Accounting teams are typically some of the most engaged users of Deltek software having extensively worked with Vision and now Vantagepoint. With its cohesive environment, accounting teams can benefit so much from Deltek Vantagepoint, and if utilized properly, it can streamline accounting processes and promote transparency throughout the system. Let’s take a look at the value of Vantagepoint for accounting.
Deltek Vantagepoint offers meaningful dashboards that give independence to executives and project managers alike. In doing so, this allows for accounting data to be viewed in real time, without the need to process reports and send to project staff. Some of the benefits that result from streamlined processes include:
Tracking down employees to submit timesheets is typically an endless story that firms experience. With mobile time and expense, teams can get excited about more timely submissions because employees can use this to enter and submit timesheets and expense reports from anywhere. Receipts can even be uploaded from a mobile device, and an expense line can be created using Intelligent Character Recognition (ICR). With Vantagepoint, submitting timesheets and expense reports is not such a daunting task after all.
Another way that Vantagepoint brings teams together is streamlining and expediting the invoice review process. Accounting can quickly and easily issue draft invoices, and project managers can mark them up promptly. This clean process keeps the invoice cycle moving along. Other benefits include:
Automate bank reconciliation
Downloading transactions from the bank and importing into the Bank Reconciliation in Vantagepoint greatly reduces the time it takes to reconcile the bank. Setting up the import is quick and only needs to be done once.
Deltek Vantagepoint offers the tools and functionality to streamline processes between groups in an organization. The improved accessibility and collaborative features break down process silos and allow for a continual flow of information. Since invoices must be sent to receive payment, the streamlined process can shorten the billing cycle and keep cash flow in check.