Full Sail Partners Blog | Deltek Vantagepoint (4)

As dedicated navigators in the vast ocean of Deltek Vantagepoint, we, at Full Sail Partners, are helping our seaworthy clients say a proper goodbye to Deltek Vision 7.6 which served us well for many sun cycles. Luckily, you don’t have to go on this journey alone, nor do you have to be a stowaway on someone else’s cruise. We have many flotation devices to help you stay above water and personally assist you on this upcoming adventure as you swiftly make your way to Deltek Vantagepoint.

At the start of your maiden voyage, the critical role Full Sail Partners will play is to amplify Deltek’s open communication, ensuring that you’re well-informed and prepared for any changes so that new users won’t be left adrift at sea. Our mutual crews can work collaboratively to clean up your Vision databases, map out the current ones plus dream up the future of your firm’s Vantagepoint instance. We also ensure confidence in the new data and the way of operating to launch successfully, and you can look forward to smooth sailing.

Maneuver Easily Using Deltek’s Resources

Consider Deltek’s Customer Assistance Program (CAP)

Embarking on the journey of upgrading to Vantagepoint, consider the CAP ready to steer you through the initial tides of the process. Deltek has meticulously mapped out the voyage for the entire year of 2024 presenting a comprehensive four-week program; a program that’s both a breeze and one that is easy to embark upon.

Click here to learn more about CAP. 

Take Advantage of the Readiness Portal and DLZ

As you endeavor to set sail, the Vantagepoint Readiness Portal is available for each Deltek client. This grants you and your crew an expansive view of the forthcoming advancements with Vantagepoint. This portal is brimming with navigational aids to guide you through the upgrade odyssey, spotlighting the innovative features and enhancements that set Vantagepoint apart from Vision. Should you find yourself off-course, and in need of DLZ access to enter your Readiness Portal, fear not. Signal your trusty first mate at Full Sail Partners (your Account Manager) or drop a message in a bottle to DeltekUniversity@dlz.Deltek.com, and they’ll chart a path to clearer waters.

Take Time to View Further Functionality of Vantagepoint

Furthermore, as with viewing a magnificent rainbow over a seashore, you can align with Deltek or Full Sail Partners to witness Vantagepoint in its full splendor. The array of demos, videos, webinars, and additional resources serve as beacons along the coast, casting light on the system’s functionality and benefits. These guiding lights are designed to help you sail through the newly discovered Vantagepoint sea with poise and assurance.

Strategies for Smooth Sailing in Your Vantagepoint Upgrade

Choose Your Crew Wisely and Clearly Communicate

Assembling an appropriate crew for the upgrade voyage to Vantagepoint is akin to gathering a seasoned team of sailors, each skilled in navigating the different bodies of water of Finance, Marketing/Sales, Operations, and Project Management. Such a diverse crew is a necessity for a successful journey, ensuring a well-rounded perspective as you and your mates chart the course ahead. Furthermore, a clear communication plan like a captain’s orders is essential: articulating concerns, spotlighting benefits, and setting expectations to align every member of the crew on the nautical adventure that awaits.

Map Out Your Pre-Upgrade Operations

Before hoisting the sails and embarking on this grand expedition to a new horizon, it’s paramount to chart your current navigational routes. This cartography of your present workflow is the key to understanding the winds and currents that have brought you this far and preparing for the transition to new waters. Even if you’re enlisting the expertise of a consultant, possessing a detailed map of your current operations is like having the stars to guide you: indispensable for steering the upgrade process in the right direction.

Listen to Feedback and Seek Insight

Feedback loops are the compass for your voyage, essential for maintaining the right course by listening to the feedback from throughout your entire organization. Whether it’s through tailored learning adventures, mentorship from seasoned sailors, or gamified training regattas, engaging your crew in creative and immersive ways is crucial to success. These methods are like the constellations in the night sky, guiding you in gathering insights that are needed for a triumphant transition to Vantagepoint.

Ready for Your Journey to Deltek Vantagepoint?

With the maps, guides and compass needed on your voyage to Deltek Vantagepoint, you and your crew are ready to embark. The upgrade from Vision to Vantagepoint process is not merely a passage from one point to another; it’s an opportunity to set forth on a journey of discovery, to explore uncharted territories in the realm of powering project success. The future awaits, and with Vantagepoint, you’re well-equipped. Get started today by requesting a Vantagepoint upgrade consultation. Click the image below to embark.

When considering an ERP system, a key challenge is ensuring that the chosen product not only supports your existing business processes but also offers enough extensibility to adapt to your evolving needs. Deltek Vantagepoint's open architecture provides a solution to this challenge by allowing you to effortlessly add fields to existing information sets in the native Hubs or create unique sets of records through User Defined Hubs with just a click of a button.

Moreover, the RESTful API offers easy access points for integration with other systems, while the consistency of the database design ensures that changes are made with stability in mind. Furthermore, the ability to schedule or trigger actions as simple as a column change or email alert, or as advanced as a stored procedure to manipulate data locally or webhook to an external application's webservice enabled platform, are all available within the Deltek Workflow engine.

With all the potential that Deltek Vantagepoint unlocks, when it comes to extending functionality through customized aspects, it's essential to build your project on a solid foundation for success. There are seven critical elements for approaching software customization to maximize your Deltek Vantagepoint system. Let’s delve into them here.

#1 Determine Whether There is a Need for Customization

It's the first thing to ask - do we really need this, or even better, is there a way to accomplish what we need natively in the Deltek Vantagepoint environment? Working with your Full Sail Partners consultant will help identify all the possibilities and leverage Deltek's existing features to their fullest potential.

#2 Gather Key Stakeholders

Making a software customization change for your business needs can often feel like venturing into the unknown. Your key project stakeholders are your ultimate end users – identify, cultivate, and leverage their needs and expectations. Identifying priorities early on enables your development team to create an actionable plan that has the most impact on the organization.

#3 Assign a Project Owner

Identifying a primary project owner is crucial for guiding your project to success. Be a “Leader of Change” in your organization by appointing the right captain to steer your ship on the correct course. The project owner acts as a representative for the overall stakeholders, providing visibility into day-to-day developments. Increased visibility helps identify and solve impediments quickly and fosters understanding between developers and stakeholders.

#4 Document Requirements

For many software customization projects, subject matter experts may not fully understand how extending the functionality of your Deltek system can benefit them, while your development and technology team needs to know what to deliver. Overcoming the technology-subject matter communications gap is essential. User stories complement business analysis techniques, making it easier to identify project requirements without adding extra effort. Focus on stakeholder requirements, needs, and goals for the solution, avoiding the trap of defining technical specifications.

#5 Define a Minimally Viable Product (MVP)

Identify the features you must have to see a return on investment. List out the must-haves from your requirements gathering and user stories to establish what is necessary to get organizational buy-in to the solution. Don’t be afraid to rough things up a bit – your end users won’t hesitate to critique the new system. Think outside the box and approach your solution from every possible angle. End users do unpredictable things, so it’s essential to anticipate their needs.

#6 Get to Work Stage Testing

Before releasing development efforts, your software customization should undergo a thorough testing process to ensure it works as intended. There are four main stages of testing: unit testing, integration testing, system testing, and acceptance testing. Keeping key stakeholders active and engaged during testing is crucial for detecting and fixing bugs, resulting in higher-quality software. Allow for internal testing to identify bugs and system flaws as early as possible from real-world usage.

#7 Plan the Release and Set Testing Guidelines

A successful software customization project requires careful planning for the release. Define a clear roadmap that outlines the timeline, milestones, and dependencies for the deployment of the customized solution. Ensure that all stakeholders are informed about the release plan and understand their roles and responsibilities. Regularly communicate progress updates and address any concerns to maintain alignment and momentum toward the release date.

Squeeze More Functionality out of Your Deltek Vantagepoint System

Now that you have reviewed the seven critical elements for approaching software customization to maximize your Deltek Vantagepoint system, are you ready to proceed? Full Sail Partners’ consultants are available to evaluate and discuss your needs. We can leverage our expertise in Blackbox Connector and our pre-built custom solutions to help you achieve your goals. Let us bridge the gap between what Deltek Vantagepoint offers and what you want your system to do.

Mergers and acquisitions have become commonplace in the professional services industry.  When firms join forces, they are typically hoping that 1 + 1 = more than 2!  By leveraging the best that each firm has to offer in terms of talent, diverse market penetration, client/contact lists, and means and methods of success, goals can include forming a stronger company that continues to successfully execute projects, attracting top talent, and growing in revenue and profitability.   

During the merger/acquisition process there are of course many things to consider.  Change management around topics such as corporate cultures and people management, branding, client loyalty, processes and procedures, and systems must be included in those considerations! 

Full Sail has helped many firms going through mergers and acquisitions with the integration of their ERP systems, when at least one company is using Deltek Vision or Vantagepoint.  While an exhaustive list of lessons learned would be too long for anyone to compile or read, we’d like to share some of the top things we recommend. 

Get the Right People at the Table 

Make sure that management/decision makers, system administrators/power users, and data consumers from all firms involved are represented in the discussions around data integration.  Sometimes the best intentions of management have unintended consequences for the day-to-day users, and sometimes the day-to-day users are not yet aware of intended changes in policies and procedures.  In the cases of acquisition to a greater extent, and especially in the beginning, some of the users may feel too intimidated to speak up and indicate that the consequences of decisions would have a negative impact on their day-to-day activities or ability to report on crucial data.  Getting a thorough understanding of how each firm uses their system(s) and data to achieve its goals, and what they would like to be able to do better, are important when making decisions about how to set up the new single system.  Invite CRM, finance, project management, and HR representatives to participate.  In our project-based environments it is important that PM’s have input along with the marketing and accounting/finance teams! 

Consider involving a third party such as Full Sail Partners, to help facilitate the conversations.  There are many aspects of system setup that can easily be overlooked or may not have been used before.  A neutral third party can also contribute ideas and best practices that can help combine currently-disparate methods into workable solutions to move forward.  Additionally, having someone to help the firms involved stay on task and accountable for timelines can prove to be valuable during a time when there are many conflicting priorities.  Full Sail consultants in finance and CRM can help explain system functionality.  Full Sail’s human resources consultant can help identify the most appropriate HR policies from each firm.  And a data migration specialist can help streamline gathering data from one system (Deltek or not!) and get it set up for, and then imported into, Deltek Vision / Vantagepoint. 

Decide how the new Company will be Added 

There are several options for adding a new company to Vision / Vantagepoint.  Many firms will use the multicompany function.  Some companies will enable or expand an organization structure.  Others will incorporate the additional company’s data directly with their own.  It is critical to think through how you will need/want to report on and analyze financial aspects of the companies, and configure the system to meet those goals. 

Another aspect to consider is the currencies in which the companies operate.  Vision / Vantagepoint can be configured to handle transactions for multicurrency operations. 

Examine and Align the Data 

Data migration specialists work with firms to identify and ready the data.  In order to make sure all the necessary data is brought into the new single system, it is important to identify all the systems the merging or acquired firm uses currently to hold data.  Is there one ERP?  Is there an accounting system, a marketing system, an HRIS system, and some spreadsheets?  Deciding which data will be incorporated into the new system is an important first step and is also necessary to scope/estimate the migration effort.  This will start to lay a clear groundwork for the migration process. 
 
The firms will also need to decide how much data will be brought into the combined system.  Do you plan to bring everything from day one of business, a certain number of years, or only GL balances?  If not bringing in historical data, where will that data be kept and how will it be accessed for operational needs or potential audits?  Address how redundant data will be handled.  If both companies have some of the same clients and contacts, how will you identify what should be kept from each?   

Assigning “data owners” is recommended so the data migration specialist knows who to ask when questions arise.  These data owners would also be responsible for participating in meetings about the data, developing a comprehensive test plan for users, and then reviewing and testing the migrated data. 
 
After identifying the higher-level parameters, consideration must be given to the details.  Decide on code formats and systems for numbering records such as the chart of accounts, employees, firms, and projects.  Alignment is needed for the chart of accounts, so mapping the new company’s accounts to the existing “like” accounts and identifying any new accounts that are needed is often one of the first steps.  Project numbering and work breakdown structure (WBS) will need to be carefully reviewed.   Keep in mind that not all systems have the same type of WBS, and even if both companies are using Vision / Vantagepoint they may be using the WBS differently.  Labor categories, labor codes, billing terms, accounting periods, and even the overhead projects all need to be given consideration.  For example, if the new company’s existing system does not use an equivalent to labor categories, and the Vantagepoint environment requires them, how will that be handled?  Will overhead time be loaded, and do the companies have the same overhead projects, will more need to be created, or will some need to be combined?    

Staff Training and Communications 

Staff at both companies will need training and communication about the changes.  Training and communication should not be an afterthought!  Employ sound change management throughout the process.  Those on the M&A team may forget that the rest of the staff don’t know the decisions being made.  The employees at both firms may be nervous or anxious about the changes.  Giving employees the information they are allowed to know in a clear, concise, and timely manner can help. Offer the info in easy-to-consume bits, but don’t overwhelm them with too many separate communications. Even something as simple as a list of who can be contacted for questions in specific areas will be helpful!   

Training is critical, even if both firms use the same system.  There are as many ways to use Vision / Vantagepoint as there are firms that use it!  Be sure to cover new processes, nuances in the database such as user-defined items, and add-on products.  Prepare a training plan and send the training session invites well in advance.  Have a leader from each firm in the sessions (in case any employees start asking the trainer questions on decisions), in addition to your top-notch trainer(s) or Full Sail consultant and someone in an equivalent training-type role from the other firm that can help “translate” questions that may be asked in company-specific lingo.  Record the training sessions so those that cannot attend can catch up and those that would like to re-watch can do so.  Consider incorporating “cheat sheets” and infographics so people can have a handy reference the first few times they go through a new process.  Make sure back-office staff are comfortable doing their jobs in the new system.   

Company growth is both exciting and challenging.  Involve the correct people, carefully consider processes, procedures, and data, and communicate with your staff.  Reach out to the Full Sail team for guidance.  We love to see our clients succeed! 

Without efficient document management, project-based firms would fall to pieces. The advent of advanced technologies, particularly in scanning and document processing, helped firms streamline this crucial aspect of their operations. Traditional scanning methods often fall short, only capturing document images without extracting crucial metadata such as client names, dates, or invoice amounts, unless manually inputted by associates.

What is OCR?

Optical Character Recognition (OCR) technology, also referred to as optical character reader, plays a pivotal role in modern document management systems. It involves the conversion of images containing typed, handwritten, or printed text into machine-encoded text. Various sources can be converted such as scanned documents, photographs of documents, scene photos capturing text on signs or billboards, or even subtitled text overlaid on images from television broadcasts.

OCR technology was developed by Emanuel Goldberg, making its debut in 1914. Initially, it was developed to aid the visually impaired in reading characters. Over time, OCR capabilities have evolved significantly, becoming useful in various everyday applications such as airport processes, mail handling, and banking.

Early iterations of OCR systems required training with images of individual characters and were limited to working with one font at a time. However, advancements in technology, and most notably in AI, have led to the development of sophisticated systems capable of achieving high accuracy across a wide range of fonts. Modern OCR systems can support various image file formats as inputs, enhancing their versatility and applicability.

Some OCR systems can even reproduce formatted output closely resembling the original document layout, including images, columns, and other non-textual components. This capability ensures that the digitized documents retain their visual integrity and readability, further enhancing the utility of OCR in document management and data processing tasks.

OCR engines have evolved into specialized software applications tailored to specific subjects such as receipts, invoices, checks, and legal billing documents. These applications offer a multitude of functionalities, including:

• Entering data for business documents like checks, invoices, and receipts
• Extracting business card information and integrating it into contact lists
• Creating digital versions of printed documents
• Enhancing document searchability by converting scanned documents into searchable PDFs

These applications show off the versatility and significance of OCR technology in modern-day document management. The adoption of OCR solutions is poised to become increasingly integral to firms’ operational workflows, driving efficiency, accuracy, and overall productivity.

What is ICR?

Intelligent Character Recognition (ICR) software goes a step further than OCR, recognizing various fonts and handwriting styles. This distinction is crucial for grasping the nuances of modern document processing. ICR swiftly extracts information from scanned paper documents, digitally storing it for analytical reporting and seamless integration into business processes. Its self-learning systems continuously update recognition databases, achieving accuracy rates exceeding 97% for structured forms.

An important application is Automated Forms Processing, pioneered in 1993, streamlining data extraction from real-world forms. While OCR focuses on machine-printed text, ICR excels in deciphering hand-printed characters, though it faces some challenges with cursive handwriting. As businesses embrace digital transformation, ICR's adoption promises enhanced efficiency and accuracy in document management, revolutionizing data processing workflows.

Benefits of ICR

While OCR remains a cost-effective solution for basic document management needs, ICR offers advanced features tailored to the requirements of project-based firms. Not only does the ability to decipher handwritten notes and diverse fonts expand its utility beyond OCR, but the automatic retrieval of relevant data mitigates the risk of human input errors, a common challenge with manual data entry processes.

ICR in Accounting

In the realm of accounting, ICR proves particularly invaluable, streamlining the processing of various financial documents such as accounts payable, invoices, purchase orders, and payroll forms. For larger firms handling a high volume of documents monthly, ICR significantly reduces the time and effort expended on manual data entry tasks, thereby enhancing operational efficiency.

Mobile Expense Retrieval with Deltek Vantagepoint

Leading ERP systems provider Deltek has embraced ICR technology within its flagship solution, Deltek Vantagepoint. Leveraging ICR capabilities, Vantagepoint's mobile expense feature enables users to capture receipts via photographs, with the software automatically extracting relevant text and populating fields. This eliminates the need for manual data entry, empowering accounting teams to track project budgets seamlessly throughout the project lifecycle.

Looking Ahead

As technology continues to evolve, Deltek remains at the forefront of innovation, exploring additional applications of ICR to further streamline business operations. Stay updated as Deltek continues to test and integrate ICR capabilities into various facets of its ERP system, promising even greater efficiency gains for project-based firms.

In today’s world of project management, monitoring project costs incurred & projected, as well as forecasting project profitability, are crucial for the success of any project. Deltek Vantagepoint, a leading project management software, offers a robust solution for this by integrating contract management, project budgeting, and project planning tools. This article provides a comprehensive overview to help project managers and consultants effectively leverage this robust project management tool.

Contract Management, Project Budget, and Planning Integration

Deltek Vantagepoint stands out by allowing users to view and manage contract values, budget, and planning information simultaneously. This seamless integration is visible in the Project Review form, where important data such as contractual fees, budgeted estimated costs at completion (EAC), planned costs (ETC), and projected profits are displayed comprehensively. Users can drill down to the details in the work breakdown structure (WBS), allowing budget management from a high-level overview or down to any of the specific phases or tasks.

Detailed Budgeting Process

The project budget tool in Deltek Vantagepoint enables detailed budget entries at the lowest WBS levels, facilitating accurate labor, expense, and consultant budgeting. This granularity ensures that every aspect of a project, from concept design to completion, is budgeted for. Users can switch between cost and billing views for reporting, accommodating different project management needs. Budgets are entered at the labor code level for labor hours. For expenses, budgets are entered into GL accounts for the expense and can be detailed out to the vendor, such as a subconsultant.

Planning Tool and Baseline Budgets

Vantagepoint's project planning tool allows for establishing baseline plans reflective of the original contract. Project managers can update estimates to complete (ETC) based on real-time project developments, such as changes to the schedule, staff availability, and scope changes, ensuring that the resource plan reflects current project realities. This dynamic approach to project management allows for timely adjustments and re-forecasting, essential for maintaining project profitability.

Analyzing Project Performance

The integration of budget and planning tools within the Project Review view facilitates a comprehensive analysis of project performance. At the bottom of the Project Review form, there are several key performance indicators (KPIs) such as effective multiplier, % expended, % earned, and profit margins which are automatically updated based on the latest budget and planning data. This real-time feedback enables project managers to identify deviations from the budget early and take corrective actions, such as requesting additional services or revising estimates.

Comprehensive Project Overview

By returning to the project review screen, users can evaluate the overall financial health, including profit margins, effective multipliers, % expended, % earned, and overhead. The system provides insights into how actual spending and planning adjustments impact project profitability, offering a complete picture of the project's financial status. This holistic view and real-time feedback enable project managers to identify deviations from the budget early and take corrective actions quickly to avoid major budget overruns, ensuring the project remains on track financially.

Mastering Project Finances with Deltek Vantagepoint

Vantagepoint offers a powerful suite of tools for simplifying project budgeting and planning. By integrating these processes, project managers can maintain tight control over budgets, adjust plans in real-time, assist in decision-making, and ensure project success. For project managers and consultants looking to optimize their budgeting and planning processes, Deltek Vantagepoint provides a comprehensive solution. Click the image below to see how these tools are used effectively to manage project finances efficiently in a 15-minute demo.

In today's data-driven business environment, project-based firms face unique challenges that require comprehensive and flexible analytical capabilities. While Deltek Vantagepoint provides robust dashboards and visualizations, there are instances where the depth and breadth of analysis needed by firms surpass what's available out of the box. This is where the integration of a Business Intelligence (BI) tool, such as Informer, becomes not just beneficial but necessary.

Navigating Complex Data Landscapes

Project-based firms often deal with multifaceted data that sprawls across various Vantagepoint tables or hubs. When the task at hand involves pulling, analyzing, and comparing this data to unearth actionable insights, Informer steps in with its advanced visualization capabilities.

For instance, constructing a dashboard that integrates financial performance data from one table with project timelines from another can reveal insights into project profitability that might not be apparent from isolated datasets.

When your firm requires the integration and comparison of data across various Vantagepoint tables or Hubs, a BI tool like Informer BI Solution can provide the enhanced capability needed. This ability to build detailed visualizations using diverse database tables ensures a more comprehensive understanding of your firm's operations and project landscapes.

Merging External and Internal Data Streams

In many scenarios, the data residing within Vantagepoint needs to be enriched with information from external sources to provide a complete picture. This might include integrating information from a payroll provider, client satisfaction surveys, or external financial benchmarks. Informer allows for such integration, offering a unified platform where all data - internal and external - can be visualized and analyzed together. This holistic view is crucial for strategic decision-making, enabling firms to position themselves more competitively in the market.

Tailoring Reports to Specific Needs

Custom reports stand as a cornerstone for firms seeking in-depth analysis tailored to their specific needs. Unlike standard Vantagepoint reports, custom reporting tools allow for the creation of highly specialized reports that dive into the nuances of your firm's data. This bespoke approach ensures that firms can extract precise insights relevant to their unique projects and operational questions, facilitating strategic decisions rooted in comprehensive data analysis.

Leveraging Merge Templates for Consistency and Efficiency

Firms might consider adopting a BI tool like Informer if they seek to enhance document creation processes. Informer Templates automate and simplify the generation of crucial documents, such as invoices and fee proposals, by allowing non-technical users to apply conditional logic to smart forms. This capability highlights a firm's need for a BI tool when existing systems like Deltek Vantagepoint require extended functionality for efficient, error-free document production. Integrating BI tools ensures consistency and leverages a unified data source for generating key firm documents, indicating a strategic move toward operational efficiency.

Analyzing Scenarios and Forecasting 

Project-based firms thrive on their ability to anticipate and adapt to future scenarios. Informer's BI capabilities extend to advanced scenario analysis and forecasting, allowing firms to model various future states based on current and historical data. Whether it's forecasting cash flow, assessing the impact of potential market changes on project viability, or analyzing risk, these insights are invaluable for proactive management and strategic planning.

Reviewing Data Just-In-Time for Agile Decision-Making 

In a fast-paced project environment, the ability to make quick, informed decisions is crucial. Informer offers data visualization on your schedule, enabling firms to monitor key metrics and performance indicators as they happen. This just-in-time capability ensures that decision-makers have the most current information on your schedule, whether it's tracking project budgets, assessing resource allocations, or monitoring project milestones against deadlines.

Boosting Collaboration with Secure, Accessible Data

Data is most powerful when it's shared and accessible to those who need it. Informer elevates data sharing and collaboration, offering intuitive dashboards and reports accessible anytime, anywhere, ensuring a unified data approach among all team members. This seamless integration is enhanced by the Blackbox Connector for Informer, which aligns with Deltek Vantagepoint’s security protocols. It mirrors your organization's existing hierarchy and roles, simplifying user access management directly within Vantagepoint.

Power Your Projects: Elevate Your Business with Deltek Vantagepoint and Informer

In the world of project management, where data reigns supreme, the partnership between Deltek Vantagepoint and Informer emerges as your key to success. This powerful combination not only merges internal with external data for a comprehensive view but also tailors reporting to your unique needs and delivers insights in real time.

Elevate your project intelligence, streamline operations, and gain a competitive edge. Click on the image below to discover how Deltek Vantagepoint and Informer can transform your business, taking you from mere project management to powering your projects with unparalleled intelligence.

In a perfect world, professional services firms could invoice their clients for every charge to every project, and the clients would pay every invoice. However, in reality, nearly all professional services firms have write-offs. Write-offs can occur when your firm and your client agree that they don’t have to pay an invoice, when the client is unable to or refuses to pay an invoice, or when your firm is unable to bill all project charges to the client.

While writing-off charges is necessary sometimes, the good news is that each of these types of write-offs can be easily handled in Deltek Vantagepoint. Since write-offs impact the firm’s financial statements, it is crucial to have clear guidelines as to the accounting period in which they should be created/posted. In this blog, let’s talk a little bit about how to handle write-offs the “right” way to make the process as painless as possible.

Firm and Client Agree to a Reduction in an Invoice Amount

Did you accidentally invoice the client too much?  Did you send an invoice for a change order before it was fully approved? Or did the client argue about a portion of the invoice, and you agreed to a reduction in the invoice amount? 

When the client does not require a revised invoice, you may choose to do an invoice adjustment through the transaction center. It is recommended to use the original invoice number and date, and the WBS2/3 level from the original invoice. Doing so will result in the adjustment being applied to the original invoice, making receipt more efficient. One thing to consider when using this method is that if you keep invoices on file, the PDF invoice stored on the project will not show the adjustment. If the PDF invoice was later needed, it could be confusing that the total no longer matches the invoice amount that shows in the system.

If the client requires a revised invoice, or if you prefer to make sure the invoice on file matches the amount the system shows as billed, you may instead choose to void and reissue the invoice through Interactive Billing in Deltek Vantagepoint. Voiding an invoice reinstates the charges that were included with the invoice (which allows you the option to hold or write-off charges) and you would issue an invoice for the new amount. When voiding an invoice, it is best to post the void before running the revised one.

It is important to note that voiding an invoice will affect the financial statements, so be sure to void in a current, open accounting period. Another consideration with issuing a revised invoice is what invoice date to use. If it is agreed that the payment terms can start on the date of the original invoice, you can change the invoice date in the billing session options.

A Client is Unable to or Refuses to Pay an Invoice

Did your client go out of business? Did a portion of your work fail to meet expectations? And, did it result in the client refusing to pay?

Many professional services firms track an Allowance for Bad Debts against Accounts Receivable. When a client cannot or will not pay an invoice, it is likely that you will want to put the write-off against the allowance. The most efficient way to do this is to process a zero-dollar cash receipt. Select the invoice as though you are paying it, then enter an additional line in the cash receipt and select either the bad debt contra-asset or expense account.

Many firms use an indirect account for a bad debt expense. But, if your firm prefers bad debt expense to be a direct expense, you could set up a project as a regular charge type and a direct expense account to be used exclusively for recording bad debt.

If your firm reports on a cash basis, and you do not want to show any revenue or expense, Deltek Vantagepoint can accommodate that as well. In AR Mapping accounts, set up your Allowance for Bad Debts as an invoicing account (leave all other fields blank unless you also want a separate AR column). Then when you need to write off an AR invoice, process a negative invoice transaction using the original invoice number, WBS level(s), invoice section(s), and the Allowance for Bad Debts account.

If you do not have a bad debt allowance, you can void the invoice as explained previously and write off the transactions (explained in the next section). You could also choose to do a credit memo. The credit memo function reverses the invoice but does not reinstate the charges to Interactive Billing.

The Firm is Unable to Bill All Project Charges to the Client

There are several reasons you may not be able to bill all the charges on a project to the client including inefficiencies during work performance, going over budget, training new staff, and resource turnover. GAAP guidelines indicate that potential losses are to be recognized as soon as known. When it is known that charges cannot be billed to the client, use the write-off function in Interactive Billing.

This function will cause the items to be excluded from invoicing, thereby not recording revenue. If your professional services firm uses revenue generation, then to exclude write-offs, make sure the formula is set up accordingly. Using the write-off function for charges will not remove the charges from project reporting, except in cases where you choose to exclude charges to be written off such as on the Unbilled Summary report.

On reports where you can select to show the billing status of charges, items that have been marked for write-off have a status of W, and items that have been written-off have a status of X. If tracking/reporting of write-offs is desired, you could choose to use the project detail report. Then on the options tab, only include charges with the X or W status.

Visibility Around Write-Off Amounts

Using Deltek Vantagepoint, there is visibility around write-offs. As mentioned, to see the specific items written off, you can use a report such as a project detail and include only items with the X or W status. Since typically no revenue is recognized for written-off items, there are other areas that you can see write-offs and their impact as well:

• As negative profit on the Project Earnings and Office Earnings reports when run at cost
• As a negative variance on the Project Earnings and Office Earnings reports when run at billing
• In Project Review at cost and billing in the profit/variance box

Use Deltek Vantagepoint to Manage Write-Offs

As discussed, there are several reasons that professional services firms experience write-offs. When write-offs are necessary, know that Deltek Vantagepoint can be set up and used to process them the “right” way, while also providing visibility so that your firm has a handle on its financial statements. If your professional services firm needs assistance in this area, don’t hesitate to contact us for more details.

For professional services firms, having a reliable project planning tool is critical to ensuring projects are profitable. In a competitive landscape, successful project execution hinges on the effectiveness of project planning, driving the need for firms to invest in tools that not only meet but exceed expectations. Therefore, a project planning tool needs to be intuitive for users and must improve project scheduling and resource planning.

With Deltek Vantagepoint, project planning has been taken to the next level with a focus on the features and functionality that project managers need. This advanced tool is carefully crafted to specifically cater to the distinct needs of project managers, making sure it not only meets, but also anticipates their requirements. Here are some key features of Vantagepoint that will assist project managers with delivering successful and profitable projects.

Start Early with Templates

Getting a project off to a good start needs a bit of an early boost. Luckily, Deltek Vantagepoint helps out by offering practical ways to help plan things out early. Here’s what you need to know to get a head start.

• Successful Delivery: This starts long before contracts are signed so consider creating the plan when the project is first entered in a Pursuit Stage. Vantagepoint offers a variety of methods that can be used to efficiently create a preliminary plan.
• Project Templates: Firms can create multiple templates for use in creating new project records or when adding structure to a project. Using Project Templates allows users to quickly add the phases of work that are typical for the projects.
• Projects Used as Templates: Firms can create Project records that can serve as templates for creating new records. These records can hold typical Work Breakdown Structure (WBS) elements like Project Templates but can do much more. The records can serve as a plan template that will allow the user to instantly create a plan with Schedule Durations, Generic Resources, and Planned Hours.

Aside from the ease of creating a project plan, planning the project in advance allows professional services firms to proactively manage pricing and resourcing.

Keep the Schedule Updated

Keeping the project schedule updated is a pivotal aspect of effective project management, and Deltek Vantagepoint equips users with powerful tools for this purpose. The plan Gantt charts are a great tool for managing the dates in a plan. The Schedule Tab allows planners to visually manage dates, durations, and dependencies for project delivery phases. Users can also adjust the project schedule from any level of the project by simply dragging and dropping the timeline bars and reviewing the Critical Path on demand, ensuring a clear understanding of key project dependencies.

Beyond the convenience of schedule management, the real-world impact of keeping the schedule updated becomes evident in staffing discussions. Maintaining an accurate and current schedule is a crucial reference point for conversations surrounding short- and long-term staffing availability. By staying on top of the schedule, project managers can better address staffing needs, optimize resource allocation, and enhance overall project efficiency.

Anticipate Resource Usage Curve

The keystone of true resource planning is predicting resource demands as they will likely occur. All project delivery phases have a ‘curve’ that should be reflected in the resource plan. Deltek Vantagepoint’s Project Planning allows users to plan the hours differently in specific time frames. With the Distribute Hours feature, users can take a more precise approach to planning resource hours over specific date ranges by using hours or percentages per day.

This level of granularity in resource planning is not just about meeting requirements; it's a strategic move to decrease the chance of resource clashes. Understanding the intensity of resource usage during different phases of a project becomes a proactive measure to minimize conflicts and optimize resource allocation. By anticipating resource usage, project managers can navigate the intricacies of resource planning with precision, ensuring easy and efficient workflows that align with project objectives.

Review Performance Against the Baseline

The Baseline serves as the bedrock, outlining the assumptions upon which the scope, schedule, and budget of the entire plan are built. Saving the Baseline at the right time allows users to review the deviations and project the final outcomes.

Deltek Vantagepoint not only facilitates this review but also enhances it by allowing users to compare Baseline values with Estimate at Completion (EAC) values. This comparative analysis can be conducted seamlessly across various platforms, including the Plan, Dashboards, and the Project Review feature. This multi-faceted approach to reviewing performance against the Baseline ensures a complete understanding of how the project is progressing in relation to its initial assumptions.

Take Control of Your Project with Deltek Vantagepoint 

Deltek Vantagepoint Planning and Resource Management allows professional services firms to collaborate and analyze project performance from the pursuit through closeout. Maintaining the plan throughout the life of the project improves financial performance and enhances communication around schedules and resource needs. Furthermore, by using this advanced tool, project managers can proactively minimize resource clashes by anticipating resource usage and ensuring project objectives are met. Take control of your projects today!

In the competitive landscape of architecture/engineering (A/E) consulting, two critical assets set firms apart: their people and their projects. As a former marketing director for a large A/E firm, I fully understand the challenges involved in managing these assets effectively. Utilizing Deltek Vantagepoint, we offer streamlined solutions for managing both resumes and project information, ensuring your firm's unique strengths are showcased in every proposal, presentation, and marketing effort.

Strategic Resume Management: Capturing and Updating Professional Profiles

We perceive professional resumes not just as documents, but as dynamic profiles that showcase the strengths of your firm's most valuable assets: its people.

Starting Strong: Capturing New Hire Information

The journey of efficient resume management begins when a new employee joins your firm. This is a golden opportunity to capture their excitement and fresh perspective. Here’s how we recommend utilizing Deltek Vantagepoint and your HR processes to streamline this step:

1. Coordinate with HR: At the point of hiring, collaborate with HR to integrate marketing and resume information collection into the onboarding process. Utilize HR’s existing data collection methods, adding specific forms or questions relevant to marketing needs.
2. Gather Comprehensive Information: Collect essential data such as bios, previous projects, licenses, awards, special skills, software proficiency, languages, and contacts. For strategic hires, consider a dedicated marketing onboarding session to align their expertise with your firm’s marketing strategies.
3. Automate with Deltek Vantagepoint: Leverage Deltek Vantagepoint to automate the information capturing process. This system can be set up to alert the marketing team of new hires, enabling the collection and updating of resume details seamlessly into your database.

Ongoing Updates: Keeping Resumes Fresh and Relevant

Regular updates are crucial to maintain the accuracy and relevance of resumes. Here's a streamlined approach:

1. Determine Update Frequency: Decide how often resumes need refreshing. This can be annually, bi-annually, or aligned with each person’s work anniversary.
2. Strategic Distribution: Utilize Deltek Vantagepoint to manage and schedule resume updates using email alert workflows. Provide current resumes to employees, along with clear instructions and deadlines for updates.
3. Engage Personally: Consider conducting brief interviews or meetings, especially with key personnel, to ensure comprehensive and up-to-date information.
4. Update the Employee Record: Once the updated information is gathered, use Deltek Vantagepoint to keep your database current. This ensures that any proposal or marketing material has the latest information at hand.

Case Study: Streamlining Annual Resume Updates at a Growing A/E Firm

A prime example of effective resume management was at my previous firm, a growing A/E firm. As the firm expanded to around 300 employees, we recognized the need for a structured yet flexible system for annual resume updates. Our strategy involved breaking down the updates into manageable monthly tasks, leveraging both Deltek and a work anniversary-based schedule. Here's an overview of our process:

Planning Phase: Leveraging Deltek Vantagepoint for Organization

1. Monthly Employee Selection: Utilizing Deltek, we extracted a monthly list of employees based on their work anniversaries. This systematic approach ensured that every employee's resume was updated annually, without overwhelming our resources.
2. Preparation of Update Materials: We compiled the existing master resumes from our database, along with a custom-designed resume update memo and instructions.

Gathering Phase: Personalized and Coordinated Efforts

1. Distributing Update Materials: The update materials were personally delivered to employees in our main office. For our six satellite offices, we collaborated with marketing coordinators or office managers to ensure distribution. In cases where direct handover was not feasible, we used email as an effective alternative.
2. Setting Deadlines and Reminders: A two-week timeframe was typically given for updates, with reminders set up in Deltek to keep track of deadlines.
3. Scheduling Interviews When Necessary: For certain key roles or when detailed updates were required, we scheduled one-on-one interviews, adding a personalized touch to the process and ensuring comprehensive updates.

Updating Phase: Keeping Our Database Current

1. Collection and Review of Updates: We gathered the revised resumes and additional information provided by employees, reviewing them for completeness and accuracy.
2. Editing and Finalizing Resumes: Necessary edits and rewrites were undertaken to ensure that the resumes accurately reflected each employee's latest achievements and experience.
3. Database Updating: Using Deltek, we updated our central database with the new information. This not only refreshed individual resumes but also ensured that our entire resume pool was current and ready for use in proposals and marketing efforts.

This case study highlights the efficacy of using a structured, technology-driven approach to manage resume updates in a large firm. By leveraging our Deltek database, we were able to streamline the process, maintain high-quality resumes, and ensure that our marketing and proposal materials always featured the most up-to-date and relevant information about our team members.

Project Information Management: Keeping Project Portfolios Up-to-Date

Just as vital as managing resumes is maintaining up-to-date project information. This includes project descriptions, milestones, and outcomes – all crucial for marketing and business development efforts. Here’s how to effectively manage this process:

1. Diverse Update Methods: Consider annual updates, project milestones, pursuit-driven updates, award submittals, and initiative-driven updates. Choose the method that best aligns with your firm's needs and project types.
2. Project Update Process: Establish a routine for gathering project information, such as sending out Project Information Profiles (PIPs) alerts to project teams and scheduling site visits for in-depth understanding.
3. Automated Reminders and Checkpoints: Use Deltek Vantagepoint to set up workflow alerts for project updates at various milestones, ensuring no project goes unaccounted for.

Forward-Thinking Project Management: Begin with Your Goals in View

An essential aspect of managing project information effectively is to start with a clear understanding of how this information will be utilized. For instance, if a project is a potential candidate for a Design-Build Institute of America (DBIA) award, it's crucial to collect comprehensive design and construction details right from the start. Anticipating the requirements of award submissions or other future uses can guide what data to gather throughout the project's lifecycle. Utilizing past award criteria as a template for data collection ensures you capture all necessary details for future submissions.

Case Study: Site Visit Program

A practical application of this forward-thinking approach can be seen in a construction firm in Florida, which has established an effective site visit program to collect robust project information. Their marketing manager shared insights into their process, which I’ve adapted to optimize using Deltek Vantagepoint.

1. Pre-Visit Preparation: Prior to site visits, a Project Information Profile (PIP) is sent to the project team via an email alert workflow. The project engineer fills in key details like project costs, square footage, and client information into the project record linked in the email.
2. Collaborative Meetings: The project's key personnel, including the project manager, safety manager, and quality control manager, convene to discuss the project with the marketing representative. These meetings, often accompanied by informal gatherings over meals, foster open communication and information sharing.
3. On-Site Insights: The marketing representative tours the site, gaining a visual understanding of the project. This first-hand experience is invaluable when drafting project descriptions and stories later.
4. Drafting the Project Story: Back in the office, the marketing representative uses the insights gathered to draft a compelling narrative of the project, which is then refined and stored in Deltek Vantagepoint.
5. Final Review and Approval: The draft is sent back to the project team for final review and approval, ensuring accuracy and completeness.

Additional highlights of their site visit program include:

• Continuous Engagement: A marketing representative is assigned to each project from start to finish, responsible for collecting initial information, attending key meetings, and ensuring all relevant documents are stored in Deltek Vantagepoint. Because Vantagepoint project records often get created in the pursuit stage, the marketing coordinator field is often populated in the project record.
• Strategic Site Visits: Site visits are conducted at critical project milestones, such as kickoff, mid-point, and completion, to gather dynamic information, including lessons learned and design insights. Workflow alerts and reminders can be sent to applicable project leads when such milestones are met.
• Leveraging Award Criteria: Award submission questionnaires are used to guide the questions asked during site visits, ensuring comprehensive data collection aligned with potential award submissions.
• Integrated Photography Sessions: Marketing representatives coordinate with photographers during project photoshoots, ensuring visual documentation aligns with the project's narrative.

This case study exemplifies the benefits of a strategic, goal-oriented approach to project information management. By integrating these practices with Deltek Vantagepoint, marketing professionals can ensure their project portfolios are detailed, up-to-date, and ready to meet any marketing or proposal need.

Integrating Resume and Project Information Management

Combining the management of resumes and project information provides a holistic approach to showcasing your firm's capabilities. Both elements are integral to crafting compelling proposals and presentations, and their management should be interlinked for maximum efficiency and impact.

1. Unified Database Management: Use Deltek Vantagepoint as a central repository for both employee and project information, ensuring consistency and ease of access.
2. Streamlined Processes: Establish integrated workflows in Deltek Vantagepoint for updating both resumes and project information, reducing duplication of efforts and enhancing collaboration between departments.
3. Regular Reviews and Updates: Schedule periodic reviews of both resumes and project portfolios to ensure they reflect the most current and relevant information, leveraging automated reminders and scheduling tools within Deltek Vantagepoint.

Transform Your CRM Practices with Deltek Vantagepoint Workflows

Mastering the art of resume and project information management is crucial for A/E/C firms striving for excellence. Full Sail Partners' expertise, coupled with the power of Deltek Vantagepoint, provides a robust solution to streamline these processes, ensuring your firm's assets are always up-to-date and compellingly presented. Embrace these strategies to transform your information management into a strategic asset, enhancing both marketing and business development efforts.

As a next step in your journey to CRM excellence, we invite you to watch our webinar: "Automating CRM Success with Deltek Vantagepoint Workflows." You'll learn how to build and implement effective Vantagepoint workflows for CRM information collection and management, gaining insights into streamlining updates for projects in pursuit, enhancing project information management for proposals, and optimizing employee data processes. Just click the image below to watch today.

In today's fast-paced business environment, finding internal information quickly is crucial. Surveys reveal that professionals often spend a significant chunk of their time just searching for necessary data and files. Deltek Vantagepoint, with each update, continues to streamline this process, making it even more efficient for users to retrieve project data and contacts. The enhanced search functionality acts as a virtual "easy" button, empowering users in professional services firms to locate precise information swiftly, leading to more insightful dashboards and reports. Let's dive into how these improvements elevate the user experience in Vantagepoint. 

The Basics 

The Search field in Vantagepoint now offers an intuitive interface with an updated Saved Searches menu. This menu not only provides quick access to frequently used searches but also includes newly added filters and sorting options. 

Custom and Shared Searches: A New Dimension

In addition to the standard searches like “Active,” “All,” and “My Company,” the updated Vantagepoint introduces more nuanced custom and shared search capabilities. Users can now create highly tailored searches that align with their specific project needs. Shared searches, curated by Vantagepoint administrators or power users, are now more refined, displaying results tailored to each user’s role and permissions.

Navigating Saved Searches with Enhanced Preview Options

The process of navigating through saved searches has been simplified. Clicking on a search now brings up an enhanced preview box, showcasing a more detailed snapshot of the results. This allows for quicker scanning and locating of specific records.

Enhanced Record and List Views

Upon selecting multiple results, the updated interface presents a more organized record-by-record view. Users can toggle through records effortlessly and switch to the ‘List View’ for a comprehensive, sortable, and filterable table of records.

At the top of the screen, it shows the total number of records. Each one has its own page, and users can toggle through each record using the arrows next to the record numbers. Users can also see the records in List View by clicking the List icon.

List View shows all the selected records in a sortable, filterable format. They can also be edited or modified from the List View table.

Streamlining Searches with the "Active Only" Toggle Feature

In Vantagepoint 6.5 released in fall 2023, a new feature streamlines the search process: the "Active Only" toggle. This convenient filter is present in the "Find [record]" field, enabling users to swiftly narrow down their search to only active records with a simple flip of the switch.

The "Active Only" toggle remembers your preference even after you log out, ensuring a consistent and efficient search experience in subsequent sessions. This enhancement has been integrated into a variety of forms across the system, from Billing to Resource Management, ensuring that users can maintain productivity with ease.

Creating Custom Searches

Custom searches have become more user-friendly. The interface guides users through a straightforward process of defining search criteria with improved field lookups and operator options. This update ensures that users can pinpoint the exact data they need with minimal effort.

Basic Custom Search

In the Contacts Hub, click the New Search button, and the new search window will appear over the current screen.

By default, it is auto-populated with “Active” in the Contact Status field. Beneath Contact Status, there are three columns. These columns are used to define the criteria for the search:

• Field Lookup: Look up fields available within the Hub (in this case, Contacts).
• Operator: The operator options tell Vantagepoint how to look for information. For example, if the Field Type is “Firm Name,” the operator options include options like “Contains” or “Is Empty.” Date-based fields include terms like “Is Today.”
• Value: This is the “what” that the search engine is looking for, such as “ABC Company” or “March 1, 2021.”

Vantagepoint automatically generates results below the search bar. The ability to quickly preview search results allows users to tweak the search criteria until they find exactly what they need without having to open a new search each time.

From here, users can click “Apply All” to be taken to the record-by-record view of their search results.

Advanced Custom Searches: A Deeper Dive

The Projects Hub now offers more complex search functionalities. Users can perform layered searches, combining multiple criteria to drill down to very specific project data. The interface intuitively guides users through setting up these advanced searches, making it accessible even for complex queries.

By default, the Project Status in the top row is set to Active. To view dormant or inactive projects, users can click the “X” next to the status and make another selection.

To perform a more advanced search, such as all the projects assigned to a certain project manager within a certain industry, users can combine search criteria.

• In the second row, enter “Project Type” as the Field, “equals” as the Operator, and “Educational/Educational Facilities” as the Value.
• Add a new row. Enter “Project Manager” as the Field and “equals” as the Operator. Enter the project managers’ name(s) as the Value.

Note that, based on this field type, the available options for Value will appear in the dropdown box. Results that don’t match the query will appear as well but are shown as grayed out.

Advanced Search Settings: Tailored to Your Needs

The Advanced Settings in the search box have been enhanced to provide even greater flexibility. Users can now specify their search criteria at various levels – from the overall project to phase or task level, accommodating a broader range of search needs for different users.

In this case, if the project managers had been assigned to specific tasks or phases of projects, that would show up here, in addition to project-level assignments.

Leveraging Power Search for Optimal Results

These enhanced search capabilities are just the tip of the iceberg. Deltek Vantagepoint's latest version offers a wealth of features designed to optimize data retrieval for project-based and professional services firms. To fully grasp these advancements, we encourage you to explore our mini demo, which covers both the basics of searching and some more advanced searching features.