Full Sail Partners Blog | Deltek Vantagepoint (9)

With each new version of Deltek Vantagepoint, professional services firms are given more tools and features to deliver profitable projects. While version 4.0 mainly focused on supporting accounting functions, 4.5 addressed all the roles that support the success of project-based firms. Here are some of the top new enhancements and features Vantagepoint users can now begin to use.

Edit and Save with Ease in Deltek Vantagepoint

Editing and saving updates have been simplified. In Deltek Vantagepoint 4.5, the two saving modes, implicit saving (autosave) and explicit saving, have been combined. With this update, a “Save” and “Cancel” button will appear whenever a change or edit has been made to a field

Speaking of edits, Vantagepoint users will no longer need to click on a pencil icon in a field to make a change. Simply click anywhere in a field that needs to be updated to make the required changes.

Create Winning Proposals and Better Track Clients

In Deltek Vantagepoint 4.5, enhancements to proposal automation will help marketing professionals create formatted documents more easily. First, Deltek has added the ability to link text elements, so text continues to flow from one page to the next similar to the functionality Adobe InDesign users are accustomed to. Additionally, Vantagepoint can now export proposals to PDFs and Word, and the proposal will retain the formatting established in Vantagepoint while creating the document.

Vantagepoint 4.5 now allows a contact to be associated with a project with a different firm that is linked to a contact in the Contacts hub. This is helpful when a contact is a consultant for more than one firm or needs to be associated with a joint venture for a project.

A small but very helpful change also got added to the Mobile CRM. Before 4.5, when a user wanted to edit and open a text field in the Mobile CRM app, it would take them to another screen that enlarged the text and the field. Now users can stay on the original screen to make changes without having to go to a new screen to make the changes, and then select Done to return the entire record. This is helpful for saving time.

Plan and Track Profitable Projects with Deltek Vantagepoint

Projects don’t always go to plan and Deltek realizes this issue. With the release of Deltek Vantagepoint 4.5, project managers can now go back and replace planned time with actual time, spread the difference if needed, or change planned hours altogether. While some firms may not want employees to be able to do this, it is an option available in the security settings and can be turned on at the discretion of firm leadership.

Estimate at completion (EAC) values are critical in planning because they help predict what a firm is going to spend at the end of a project. The problem today is that planning is the job to date (JTD) as of today and the estimate to completion (ETC) starts tomorrow. If one or more people have not updated their timesheet for any days before today, those hours are missing from the EAC. In Vantagepoint 4.5, JTD can be changed to pull from a specific day. For instance, the standard setting in Vantagepoint is to pull JTD from today, but now firms have the option to choose from yesterday or even the end of the week from the previous week.

Two small but convenient features have also been added for project managers. The first is the sharable search feature. Previously, users could create and save searches for themselves only. Now, saved and custom searches can now be shared with coworkers. Secondly, purchase orders with approvals have been added to the browser version of Vantagepoint. This allows the majority of project managers to work exclusively in the browser version.

Improved Invoice Approvals to Increase Draft Turn Around and New AR Reporting Enhancements

Deltek Vantagepoint 4.5 now allows for tracking invoices by billing client when the billing client changes during the life of the project. In Vantagepoint versions 4.0 or earlier, when the billing client changed for a project on the Accounting tab in the Projects hub, the change was applied to all existing invoices, cash receipts, voided invoices, and credit memos. This can create some confusion. Now, the change only applies to new invoices, voids, and credit memos after the change takes place. Essentially allowing account receivables to track information separately for each billing client.

Draft invoice approvals also gained improved visibility into annotation and comment history when saved draft invoices were resubmitted. The process in 4.5 allows an approver to review a draft invoice, make changes, and add comments as necessary. Now the change will apply to invoices, voids, and credit memos when a new billing client has been assigned. Essentially allowing you to track accounts receivable information separately for each billing client on a given project.

Start Using More Features in Deltek Vantagepoint 4.5

Deltek Vantagepoint 4.5 is one of the biggest releases ever to roll out since its inception. With that said, there are more improvements and enhancements that weren’t discussed in this article. For more information, check out the Deltek Learning Zone and click the button link below to learn more about Vantagepoint.

Finding helpful and insightful information just got easier for Deltek Vantagepoint clients. The Powering Project Success with Deltek Vantagepoint mini demonstration series is a growing library of video content for Vantagepoint users of all roles and skill levels. Each video is five to twenty minutes long and about a specific feature and function available in Vantagepoint that many are unaware exist or are unsure how to use.

Projects Start with Business Development

Winning work is the first step to initiating a project and Deltek Vantagepoint helps business development (BD) professionals generate and close opportunities. Even on the go! With the mobile CRM functionality, BD team members can easily access and update client information from anywhere using a mobile device. Check out this demo to see how simple it is to review and update client information right on your mobile smart device.

In addition to the great benefits of mobile CRM, tracking Outlook emails and calendar appointments in Vantagepoint CRM is seamless with Deltek Vantagepoint Connect for Outlook. With a few simple clicks, BD team members can conduct typical CRM tasks directly in Outlook. Watch this demo to see how easy it is to create contacts, manage appointments and schedule meetings directly in Outlook.

Simplify Project Startup and Creation

Before work can begin, a client must pay a retainer fee. As simple as this sounds, there can be many parties involved throughout the process. During this mini demo, Vantagepoint accounting professionals can learn how to easily process retainers using cash receipts all while automatically keeping the project manager in the loop through the entire process. As simple as this sounds, it’s a favorite obscure feature for many accounting professionals.

Setting up new project and plan can be a time-consuming process that can be avoided using Vantagepoint Project Templates and Plan Settings. Instead of starting each project from scratch, Project Templates and Plan Settings allow firms to use pre-defined work breakdown structures to quickly set up complex projects. Essentially, simplifying the project creation process and ensuring consistency of project records. Watch this demo to see a project set up in less than 10 minutes.

Track Time for Timesheets Easier

Managing projects and clients is already a lot of work for billable employees. On top of that, they are required to track and update their timesheets on a regular basis. Deltek can’t create more time in a day, but Vantagepoint can make updating timesheets easier. Using the Calendar feature, users can track their billable time and add it to their timesheet with a few clicks. Check out this mini demo to see how.

Manage Talent Acquisition and Learning

Growing firms need to hire quickly and onboard new talent fast. Attracting and recruiting new talent requires getting the message out about new open employment opportunities. During this demo, human resources (HR) professionals will see how to post open positions across multiple job listing platforms with a simple click.

Once a new employee is hired, getting them started and setting up their training needs to be as simple as advertising for the position. In this demo, HR staff will learn how to set up the new hire onboarding process in an online environment. Additionally, the demo covers how employees can submit required paperwork and info as well as complete self-guided online training.

Get Paid Easier

Before billing a client, it’s important to make sure the invoice is correct. This internal back and forth process between project managers and accounting can become time and paper consuming. After watching this demo, accounting professionals and project managers will both be relieved once they see how easy it is to digitally markup invoices and resubmit them to accounting.

The ugly side of accounting is having to bill and collect interest from clients. Well, Deltek Vantagepoint can’t talk with clients about late payments, but it can make charging interest easier. Learn how to set up billing terms in Vantagepoint to make collecting and tracking past due balances easier in this demo.

Deltek Vantagepoint Provides Answers

Reports after report, Deltek Vantagepoint as them which is great. However, picking the right report can be confusing which is not Deltek’s intentions. In this demo, picking the right project planning related report is thoroughly explained along with the context about how each report is created. This demo is great for those tasked with forecasting project performance.

What seemed like a dream for project managers is a reality in Vantagepoint. With the combination of project planning and budgeting in one hub, project managers can quickly review project success based on both of these data inputs. The Project Review demo shows how Vantagepoints pulls from both these data sources to help ensure projects are profitable.  

Maximize the Benefits of Deltek Vantagepoint

Getting work done just got easier for Deltek Vantagepoint users! While these are just a few of the mini demos available in the Powering Project Success with Deltek Vantagepoint series, more are available using the link button below. Make sure to regularly check out the growing demo library for updates and share these with coworkers.

Why do project-based firms struggle with billing, time, expense, and transaction entries? Simply stated, firms lack the systems to support the unique challenges of professional services firms. Accounting professionals at project-based firms depend on the timely billing of their projects for the success of their firms’ bottom line. By streamlining accounting processes with Deltek Vantagepoint, project-based firms can increase cash flow and profitability.

1. Efficient Entering of Timesheets and Expense Reports

Using Deltek Vantagepoint, project-based firms can reduce the time it takes for employees to enter timesheets and expense reports using the Time & Expense Mobile App. Using the Vantagepoint Time & Expense App, employees can submit timesheets and expense reports while travelling. As a result, there is no more waiting until employees are back in the office to scan receipts; just snap a picture on a mobile device and the app will use intelligent character recognition (ICR) to start the expense line. Now, submitting and approving time and expenses on the go is simple which reduces the burden for employees as they enter time and expenses. Ultimately, this improves the process of client invoicing.

2. Improved Firm Cash Flow with Document Management

Project-based firms can improve their cash flow with Deltek Vantagepoint by speeding up the invoice process with document management. Within Vantagepoint, users can utilize the database to store receipts and AP Invoices by attaching them to each transaction. Additionally, they can utilize billing terms to include back-up documentation with the client invoice which greatly reduces the time it takes for billers to search and copy all supporting documentation that needs to be sent to the client.

Another added bonus of a virtual document management solution within Deltek Vantagepoint is that there are no more piles of papers needing to be recycled. If receiving AP invoices electronically or journal entry requests via email, there is no need to print; simply save and attach in Vantagepoint. Documents can be attached in AP vouchers, expense reports, units and journal entries. Vantagepoint is bringing firms a lot closer to a paperless and remote-working world!

3. Digitized Client Invoices Speed Up Billing Process

The interactive and batch billing tools in Deltek Vantagepoint digitize the client invoice process which speeds up the billing process and shortens average collection time. Vantagepoint allows billers to submit draft invoices electronically and use saved searches in batch billing to group invoice by project manager, principal, or by invoice approver. The billing tools notify invoice approvers electronically that a draft is ready for review, and approvers can use the draft invoice approval feature to mark-up and enter comments using the new PDF editor function.

Approvals also happen electronically with no more paper approval or emails to keep track of any longer. The system will keep an approval audit trail, and billers can see all comments and mark-ups made to drafts in Interactive Billing. Billers make the changes and produce the final invoice in either Batch or Interactive Billing. Ensuring all firms have a billing contact, invoices can be emailed, with back-up attached, directly to the billing contact out of the database.

4. Reduced Manual Data Entry with Workflows and Approvals

With Deltek Vantagepoint, leveraging workflows and approvals streamline transaction processing, and reduce manual data entry. Vantagepoint users can utilize electronic approvals for timesheets and expense reports. Furthermore, approval workflows are flexible and can accommodate many steps if needed, and approvers can approve timesheets and expense reports anywhere by using the mobile app. The accounts payable workflow provides an electronic approval audit trail and document management within the database leaving no stacks of papers. Even more, the absence request workflow allows managers to keep track of each employee’s schedule which helps with ensuring coverage on projects when needed.

5. Streamlined Repetitive Tasks Using Recurring Transactions

Recurring transaction entries can be done to streamline repetitive tasks for Deltek Vantagepoint users. Utilizing recurring transactions in Deltek Vantagepoint will reduce the time it takes each month to enter the same transaction. Additionally, using transactional imports for multi-line transactions will ensure accuracy and allow more time for other tasks.

Save Time, Save Paper, Save Money with Deltek Vantagepoint  

Interactive billing, automation, and leveraging workflows means less wasted time and more time to focus on the bottom line. These features are all available with Deltek Vantagepoint, and with this intuitive solution, managing billing, time, expense, and transaction entries becomes that much easier saving firms lots of money. Not to mention so many trees! Don’t forget to check out the other features offered to users by Deltek Vantagepoint.

What is better than a purpose-built modern ERP with functionality to streamline and consolidate business processes? More features! With the latest release of Vantagepoint 4.0, Deltek offers even more features to make it easier for firms to deliver better projects, analyze business performance, and create more accurate invoices. Let’s check out some of these new features and see how they will be beneficial to Vantagepoint users.

Digital Markup of Draft Invoices

Clients have been asking for the ability to markup draft invoices for some time. Now with the latest Vantagepoint release, draft invoices can be digitally marked up. This allows the biller to view and edit annotations within interactive billing and markups are saved for future reference. As a result, the digital markup feature allows for improved collaboration between project managers and accounting.

Expanded Interactive Billing Capabilities

This newest version of Vantagepoint continues enhancing the user experience and ease of use. With enhanced interactive billing, you can view marked-up drafts including comments from final invoices in prior periods. Also, when invoices are voided, Vantagepoint will keep a record of the void and the date the invoice was voided.

Store Final Invoices as PDFs in Vantagepoint

With Deltek Vantagepoint 4.0, final invoices can be stored as a PDF when they are accepted in interactive billing or final creation in batch billing. Since a PDF is created at the time of final invoice creation, you actually have a duplicate record of what you sent to the client originally. Now, with this enhancement, all invoices stored in Vantagepoint will exactly match the invoices that you sent to your client.

New Expense Report Screen Designer Capabilities

Deltek Vantagepoint 4.0 features now help with increasing expense report accuracy. Now, the Expense Report has a “lite” screen designer. This allows users to build in business rules within the expense report. Also, you can add additional columns or choose the columns you want to display on the expense report and change their descriptions. You can even make tooltips to help with accurate reporting by users. Additionally, screen designer changes apply to mobile expenses as well.

Expanded Expense Approval Features

The latest version of Vantagepoint focuses on increased usability. For expense report approvals, there is a new toggle to show all approval types or completed approvals. This gives the approver the ability to just see expense reports that need to be approved. Also, there is a new Print Lines Approval Report button for both timesheets and expense reports. This report gives the approver, at a glance, line items that still require approval.

Timesheet Status Update with Floor Checks

Vantagepoint 4.0 also helps with managing employee timesheet completion. If you are responsible for making sure employee time entry is completed on time, you can do a “floor check” to review the status of time entry for your employees for a specific timesheet period or day. This feature allows users to quickly see which employees still have outstanding timesheets and includes the ability to create a reminder email template to send to employees.

Mobile Enhancements Including Biometrics

In previous versions of Deltek Vantagepoint, users could upload receipts from a mobile device using Intelligent Character Recognition (ICR). With 4.0, users can now automatically match a line created from a receipt with a credit card charge. Biometric authentication has also been added to Time & Expense and CRM mobile capabilities. Using this new feature, users can now utilize fingerprint ID or face recognition to make it more convenient and more secure to access their Vantagepoint system. These new enhancements simplify the process making it easier for end users to complete their expense reports. Therefore, allowing for more accurate reports benefits accounting.

Dashboard Enhancements for Clearer Insights

With Vantagepoint 4.0, Deltek continues to provide more improvements to filters, dashparts, and dashboards for ease of use for the end user. The latest release provides further visibility into project details and labor planning. One of those enhancements to dashparts is the ability to drill down to the details to see unposted labor hours at cost and/or billing rates.

Always Looking Forward with Deltek Vantagepoint 4.0 

With each release of Vantagepoint, Deltek seeks to reimagine functionality and leverage innovation to provide usable and practical value for accounting. The latest release steps up with features that work on improving user experience, ease of use, and accuracy. As always, the newest Vantagepoint 4.0 enhancements make managing and delivering projects that much better for all users and there are many more to come.

Congratulations for upgrading to Deltek Vantagepoint, the reimagined and greater version of Vision! For starters, you’ve probably already noticed that Vantagepoint is different from Vision in its appearance. This new and greatly improved user interface just scratches the surface though. Did you know that there are several process enhancements designed to streamline your firm’s day-to-day operations?

While Deltek Vision was the gold standard for project-based ERP systems, its successor, Vantagepoint, is raising the benchmark. Check out what you may not know Vantagepoint can do to improve your firm’s processes.

Did you know Deltek Vantagepoint can…?

Did you know you can customize the timesheet approval process?

Do you need one or more approval steps? No problem!  Do you need line-item approval? No problem!  

Using a Vantagepoint timesheet approval workflow is simple and flexible. Additionally, using an approval workflow tends to shorten the time it takes to get timesheets approved and posted, everything is done electronically either from a desktop or on a mobile device. Timesheet approvals have never been easier!

Did you know that Vantagepoint now allows for draft invoice markup?

Say goodbye to emailing and/or printing draft invoices for approval! With the new “Markup on Draft Invoices” feature, approvers can review, markup and approve directly in Vantagepoint. The draft invoice will show all the information needed for an approver to verify billing. The approver can also use the PDF editor that is built into Vantagepoint so they can make notes right on the draft and resubmit. Waiting days or weeks for invoice approval a thing of the past!

Did you know that you no longer need to post batch transactions?

Have you ever wanted to post one Voucher or one Cash Receipt without creating a whole batch? With Vantagepoint’s new “Single Transaction Posting” option, this is now possible. If this option is enabled, control totals will no longer be needed. As a result, there is no need to leave the transaction entry screen to post, just enter your data and click post. With Vantagepoint, entering and posting transactions has never been this quick and easy!

Did you know that you can have multiple dashboards in Vantagepoint?

Since Project Managers often wear multiple hats in a firm, they can now have different dashboards to represent those different hats. For example, there can be a dashboard for business development activities and pipeline management in addition to a separate dashboard for project financials. Thus, allowing Project Managers or other firm employees that wear multiple hats to have critical decision-making information at their fingertips.

Did you know that information from the project budget and project planning tool are in one view?

In the Project Hub in Vantagepoint, the Project Review option allows project managers to view the Contract Fee, EAC Budgeted Cost, ETC Planned Cost and the Planned Profit in one single view. Additionally, Key Performance Indicators can be tracked on the same view and are continuously tracked and updated as information is changed in the budget and project tool.

Did you know that the professional licenses that your employees hold can be tracked in Deltek Vantagepoint?

For professional services firms, there are often credentials that must be held for some types of work. Examples include professional engineer, professional land surveyor, registered architect, and more. It’s imperative that licenses such as these and other certifications are kept active. Some firms rely on the employees to maintain their licensures while other firms may ask their human resources or marketing teams to capture this information.

Deltek Vantagepoint allows users to capture and track this information in the Credentials grid in the Employee Hub. Available fields cover the credential description, type of credential, license number, state and country, date earned, expiration date, last renewed date, and a check box for proposal use. With the use of workflows, employees can be notified 60 days, 30 days, or another chosen number of days prior to an expiration date.

Did you know that Vantagepoint has a seamless transition process from project pursuit to award?

In Vantagepoint, there are no more mapping exercises after a project is won. You can enter estimates, plans, budgets and contract amounts at any tine in the project lifecycle. As a result, project information is already captured and ready to use at the start of the project.

Get the Most out of Deltek Vantagepoint!

Simplifying and improving your firm’s operations is the intent and purpose of Deltek Vantagepoint. But with anything new, a lot of these enhancements may never be utilized if firms are unaware that they exist. If you’re interested in learning more about the features and tools that are part of Vantagepoint, check out our Vantagepoint video demonstration series. Additionally, make sure to read our monthly newsletter with a new “Did You Know” in each edition.

Is my firm ready to make the transition from Deltek Vision to Vantagepoint? The answer to this trending question remains the same – it depends on your firm’s needs since there are several factors that should be taken into consideration when determining your upgrade timeline. Deltek has recently shared that Vision will be supported beyond January 2023. This means firms can upgrade in a timeframe that aligns with their calendars and needs. Let’s take a look at some of the factors that are affecting decisions around a target upgrade date.

Team Capacity

We all have various times of the year that are busier than others. Upgrading to Deltek Vantagepoint isn’t necessarily hard. However, readying your firm for the upgrade does take time, important conversations need to take place, and impactful decisions have to be made.

The upgrade is ultimately a project that stakeholders must spend time on and converse about process improvements. Consider the timeframe of year-end processes. End-of-year processes can consume finance teams for weeks, or even months. Therefore, choosing a time when the finance team has some schedule flexibility is very important. For some firms, this may affect the timing in the first quarter as well.

Additionally, marketing and project management teams rely heavily on the system as they use CRM and Resource Planning. As processes are tweaked and reestablished, also think about end-user training. How will you train power users and end-users? Would that be in your preview environment or after going live in Vantagepoint? The answers to these questions vary from firm to firm. However, one trend noticed is that many firms are committing resources and time to education and training as they go through the upgrade process. This is all in an effort to equip their teams with the latest technology as they manage and deliver projects.

System Complexity

Deltek Vision and Vantagepoint have impactful features out of the box. There are often times when firms need to add fields, workflows, and custom hubs. Depending on the amount of customization, that can affect the length of their transition timeline. This may include workflows, custom fields, and robust processes.

In addition, some firms integrate their Deltek system with third-party systems to streamline processes and data entry. Examples include payroll services, email marketing platforms, external expense and invoicing services, firm intranets, and more. Firms should seek confirmation from their third-party solutions that they, too, are ready for the upgrade. These integrations can impact the timing of a firm’s upgrade and testing should be incorporated into the timeline.  

The complexity in which a firm uses Deltek can also affect a firm’s upgrade date. The time a team spends in the preview environment should be measured. Whether it’s in screen designer, security, rebuilding reports, or creating useful dashboards, that work won’t automatically carry forward to a data refresh or going live. Instead, those settings would rewind to the default. There is a tool called transition copy scripts that can copy and apply those configurations and settings forward.

Firm Culture

Many firms are leveraging the upgrade as a time to evaluate and modify processes. Although some view these changes as improvements, others may become intimidated. For some features, the changes can actually be incorporated into Deltek Vision and put into action now. Other improvements, including new module implementations, maybe more efficiently put into practice after going live in Vantagepoint.

Getting teams on board and all on the same page may take some conversations around change management. Furthermore, be sure to include some of the “department cheerleaders” throughout the firm as you determine who will be leading the upgrade efforts. A variety of roles and experiences is effective as it brings up new conversations, squashes “change” concerns, and breaks down silos that may exist.

Firms are also taking this opportunity to increase the potential of their Deltek solution and train their staff for more hands-on usage. In the past, Deltek may have been more heavily used for accounting functions. However, we are finding that some firms are now consolidating some outside resources and using features in Vantagepoint that have become more approachable and inviting.

Plan for Successful Vantagepoint Upgrade

Planning for the upgrade is of great importance, and it may be easier than you may think. There are many resources available to start familiarizing firms and teams with Deltek Vantagepoint. Deltek offers the Deltek Learning Zone (DLZ) and the Client Assistance Program (CAP) to help teams prepare for the upgrade.

At Full Sail Partners, we are taking a personalized approach with firms that are looking for some assistance with the upgrade. From planning efforts to training after going live in Vantagepoint (and everything in between), we are guiding firms through a successful upgrade. We also feel that education is key, so helping firms better understand and utilize Deltek Vantagepoint will stick with our clients far beyond the upgrade.

It seems like déjà vu and it should. It’s the same scenario played out over and over again for every proposal professional. Sitting in a dimly lit room with a lukewarm cup of coffee behind stacks of RFPs with pages upon pages to read. This entire process seems to be on constant repeat as you extract important details to determine which RFP is the winning one for your firm. However daunting and looming the task seems, the process is necessary.

For a proposal professional, the repetitive preparatory tasks are important since they are the gatekeeper that determine which RFPs receive a response. As a result, this responsibility requires analyzing specific metrics and information to determine which RFP your firm can win. In doing so, they utilize the infamous go/no go process to compare the details within the RFP to determine which opportunity is the best fit for their firm. But what if there was a solution that can help select the winning RFP for your firm? Well, there is since Deltek Vantagepoint CRM is more than your average CRM.

Deltek Vantagepoint is Your Source of Truth

A major benefit to starting the go/no go process with the Deltek Vantagepoint is that it already contains project pursuit and opportunity information. By using Vantagepoint early on in the process, you can:

• Identify available internal resources to assist with the RFP response
• Compare previous wins/losses and apply lessons learned for better decision making
• Quantify the go/no go process to make more objective decisions
• Avoid high risk pursuits and projects
• Improve your overall win rate
• Use automatic notifications to stakeholders to inform them of the go/no go decision and next steps

Utilize Vantagepoint User Defined Fields and Workflows

With user defined fields, a go/no go process can be created based on your firm’s needs. From simple to complex, Vantagepoint can be aligned to meet your business goals. User defined fields allow your firm to capture intel during the go/no go process and even apply a numeric score to criteria your firm uses to make a final decision. If your firm chooses to use a numeric score, a workflow in Vantagepoint can be created to determine whether or not to pursue an opportunity. A short list of some great areas to track using a numeric score that can be calculated using a workflow are:

• Experience with type of work in the RFP
• Client relationship type
• Client relationship status
• Past project performance for client
• Amount of work to be subbed
• When did you learn about the opportunity (before advertised, etc.)
• Does the project align with the firm’s strategic plan
• Can we compete with known competition
• Number of competitors
• Is there an incumbent

Implementing Deltek Vantagepoint CRM for the Go/No Go Process

When adding Vantagepoint CRM into your firm’s go/no go process, it’s important to thoroughly evaluate:

• If you’re asking the correct questions and weighting them appropriately
• Past wins and losses to identify what questions you could have asked to make a better go /no go decision
• Ways to simplify the process for others in your firm like project managers and senior management
• Collaborate with others at your firm on questions and metrics that should be included
• Test, test and test again to fine-tune the go/no go process

Start picking the winning RFP for your firm by using Vantagepoint CRM in your go/no go process.

Marketing is a necessary function in business, and AEC firms are no exception. First off, there’s general brand awareness, and then there are the marketing campaigns that firms spend resources on to drive quality leads. Marketing efforts cover a variety of outreach methods such as conferences, sponsorships, golf tournaments, and email campaigns. Can you name the projects awarded to your firm as a result of particular marketing efforts? What campaigns would you consider a success based on the efforts and dollars spent? Let’s see how Deltek Vantagepoint marketing campaigns can help you with your marketing efforts.

Organize Marketing Efforts

For each marketing effort, information can be collected and organized in one place inside a Vantagepoint marketing campaign record. The marketing campaign name, its description, associated promotional project used for budget tracking, marketing campaign manager, and marketing manager are all fields that may be useful to planning efforts.

Beyond the marketing campaign record, organizing a marketing plan in the same system as your CRM allows for efficient associations. With Deltek Vantagepoint, teams can associate resulting projects in pursuit and awarded projects to the marketing campaign that led to that effort. Therefore, you have visibility to:

Measure Costs Against Goals

A Revenue Goal can be identified as you begin the campaign. Other monetary fields are populated based on project information in your system. There are fields for Actual Revenue, which recognizes dollars from awarded projects associated back to the campaign, and Potential Revenue, which recognizes dollars from projects in pursuit. A promotional project can also be created for the marketing campaign to track time and expenses. Using the promotional project number, Actual Costs are populated on the marketing campaign. This gives a quick view of the success of the marketing campaign as it relates to resulting projects.

Build Email Lists or Tally Responses

It’s not always about the dollars. For events in which attendee information should be collected, responses can be tracked using contacts in CRM. The responses, or contact list, can be used to create mailing lists or distribute follow up information.

Stay on Target with Activities

With each marketing campaign comes tasks and to-do lists. Those activities can be managed and tracked in the marketing campaign record. This brings all activities together, whether it’s registering for an event, completing sponsorship information, creating marketing materials, or making reservations. Deltek Vantagepoint allows Activities to be assigned to other employees so the appropriate team members will see their Activities as well.

Measure the Effectiveness

Tying actual revenue to a marketing campaign gives firms the opportunity to measure the effectiveness of various marketing efforts. By doing so, firms can determine which efforts to repeat and which ones to modify or discontinue. One example is conferences. Many dollars can be spent on industry conferences, and we simply cannot attend all. Using marketing campaigns, teams can see the return on effort. These metrics can help prioritize event involvement for future years and be an integral part of strategic marketing and business development plans.

Be Smarter with Vantagepoint

As Deltek users, marketers can take advantage of the marketing campaigns in Vantagepoint and discover which marketing efforts work the best. Based on what these marketing campaigns identify, your firm can strategically plan better. Additionally, by using marketing campaigns in Vantagepoint, the marketing department can easily translate their outreach efforts to a monetary value.

Full Sail Partners works very hard to provide our clients with the most up to date, valuable and interesting content relevant to the professional services industry. One convenient avenue for disseminating information is through our weekly blogs. We know that with everyone’s busy schedule, not everything in the inbox can be read upon receipt. With that in mind, we make our content accessible online so it can be reviewed and digested on the client’s timeline. So, in case you missed them and to pique interest for further discovery, here is a quick summary of the top 10 blogs of 2020.

2020 Trends in the Professional Services Industry

Firms in the professional services industry must adapt to compete in today’s world. Through acquisitions and other partnerships, many professional services firms have been entering into new markets and now have the need to offer a wider range of services to a larger client base. What are the top trends as they deal with evolving client expectations and staying competitive?

• On Demand Workforce
• More Flexible Service Rendering
• Perception as Advisors
• Leveraging Automation

>>>Click here to learn more!

Deltek Vantagepoint – A New Era for Project-based Professional Services Firms

A two-decade era of Deltek Vision is winding down, but it will continue to be supported through at least January 2023. Its legacy continues under a new name - Deltek Vantagepoint. Just like Vision, Vantagepoint will continue to help your people manage your projects from start to finish, but with a reimagined, intuitive interface focused on efficiency.

• Available Resources at Your Fingertips
• Preparing for Success
• Bring Everything and Everyone Together

>>>Find out what you need to know abut Vantagepoint! 

The Value of the Deltek Vantagepoint Readiness Report

As the launchpad to Deltek Vantagepoint, the Full Sail Partners’ Vantagepoint Readiness Report can be used as a guide for your firm’s cleanup efforts and next steps. This valuable resource is such a strong starting point for firms as they consider when and how to upgrade from Deltek Vision to Vantagepoint.

• How to Get There
• Start with a High Impact Tool
• Benefit from the Results

>>>Be more prepared to may the upgrade to Vantagepoint!

The Value of the Deltek Vantagepoint Transition Copy Scripts

During the Vantagepoint testing process, firms will need to address some key areas including workflows, saved searches, reports and configuration settings before moving forward with a production environment. Our Vantagepoint Transition Copy Scripts are a valuable resource to ensure the work you put into addressing issues does not require rework when you move from test-to-test environment or to your final production environment.

• Vantagepoint Preview Environment
• Vantagepoint Preview Becomes Testing Environment
• Benefits of Using Transition Copy Scripts

>>>Learn how copy scripts help ensure a seamless upgrade!

Improve Project Planning with Deltek Vantagepoint

With Deltek Vantagepoint, project planning has been taken to the next level with a focus on the features and functionality that project managers need. Here are some key features of Vantagepoint that will assist project managers with delivering successful and profitable projects.

• Use Project Templates
• Take Advantage of Labor Codes
• Adjust Project Timelines with the Interactive Gannt Chart

>>>Learn about the features in Vantagepoint that improve project delivery!

Easily Capture Project Information Using Deltek Vantagepoint

Gathering accurate project details in a timely manner is a nearly everyday challenge of marketing and proposal managers at project-based firms. Fortunately, with Deltek Vantagepoint, teams can easily capture project information and reference it quickly when it matters most– during proposal crunch time. 

• Identify Key Project Information
• Capture Information While Pursuing the Project
• Move from Pursuit to Billable Project without Losing Key Information
• Access Data You Need When You Need it

>>>Tracking critical project information has never been easier! 

The Value of Vantagepoint for Business Development

When firms can successfully manage interactions, identify projects that add to our pipeline, and collect the right information to position our firm better than our competitors, we win more projects, improve client satisfaction, and increase loyalty. The abilities of Deltek Vantagepoint CRM can provide business developers, project managers, marketing staff, and executives with real-time information on client touchpoints, project pipelines, marketing and service efforts.

• Record Interactions On-the-Fly
• Easily Uncover Client and Contact Relationships
• Support the Entire BD and Project Lifecycle

>>>When more business with Vantagepoint!

The Value of Deltek Talent for Human Resources Professionals

More and more professional services firms are finding value in having a methodical human capital management (HCM) practice in place. Deltek, the leading software solution provider for professional services firms, noticed that this specific market vertical has unique needs and released Deltek Talent, an HCM designed for professional services.

• Recruit and Hire Top Industry Talent
• Provide Development and Advancement Opportunities
• Performance Management
• Seamless Integration with Deltek Vantagepoint

>>>Improve the employee experience with Deltek Talent! 

Creating the Intentional Client Experience

When it comes to your clients, building strong long-term relationships is priority, and the quality of these relationships can make or break your business. Most importantly, clients desire an overall exceptional experience, and the intentional client experience benefits your company.

• Begins with a Plan
• Takes Being Client Centric
• Leads to Efficiency
• Ensures Positive Client Feedback

>>>Learn to create an experience that will delight your clients!

Key Findings from the Annual Deltek AE Clarity Report

The 41^st Deltek AE Clarity Report provided a comprehensive assessment of the 2019 performance of AE firms. This year’s study collected responses from more than 415 firms of all sizes within the AE industry and provided a summary of trends in:

• Technology
• Financial statements
• Business Development
• Project Management
• Human Capital Management

>>>See how your firm measures up against your peers! 

We’ve Got You Covered

Into 2021, we have all sorts of interesting ideas for relevant industry content just bubbling out of our experts’ heads. So, while you’re trying to stay afloat with your responsibilities at your firm, please know that Full Sail Partners is working to make your job easier. In the months to come, keep an eye out for future blogs on what is new and exciting for professional services firms. And, as always, feel free to check out our content online.

Delivering successful projects requires having the best project management tools available. Luckily for Deltek Vantagepoint users, more features and improved functionality continue to be added in each new version release. And recently, Vantagepoint version 3.5 just rolled out and it includes some incredible enhancements. Here’s a look at what’s new in Vantagepoint.

Dashboard Enhancements

A key feature required to effectively manage projects is having project performance information right at your fingertips. With the Deltek Vantagepoint dashboard enhancements, users can create informative charts, graphs, and lists to easily display your business data. This allows firm staff to quickly make critical business decisions that can positively impact project delivery performance.

In version 3.5, Deltek has taken the dashboards to a new level by allowing users to drill down to detail for hours, labor cost and labor billing on the project dashparts. Additionally, new options for planning data have been added, and the pipeline dashpart now includes the option to show total compensation. If you’re already using Vantagepoint 3.5, make sure to check out these improvements and start visualizing your data in ways you never imagined.

Improved Revenue Forecasting

Revenue forecasting accuracy is essential to delivering a profitable project and Vantagepoint users now have improved insights to ensure a successful project. Firstly, Deltek has now added more accurate and granular views of potential revenue from a project. Additionally, users can create revenue forecasts for individual projects. Deltek also is taking revenue forecasting to the next level by adding a feature that allows users to enter estimated to completion planned revenue at any level and easily update forecasts. With all this new functionality, users can now run reports to show pipeline and forecasted revenue periods.

Project Review Drill-Down Capabilities

Project managers need to be empowered to better monitor project details. Now in Vantagepoint 3.5, project managers can easily review direct, indirect, and reimbursable expenses as well as direct and reimbursable consultant fees. Additionally, all this information is available in a single location making it easier and faster to access.

Accounting and Billing Improvements

Cash flow is essential for any business to be successful and Deltek knows that their project-based clients rely on having easy and accurate billing to ensure they get paid by clients. For this reason, they have streamlined the billing and invoicing process in Vantagepoint 3.5. Now, the accounting department has better visibility of bill-through dates in interactive billing. Also, accounting and project managers have the option to resubmit draft invoices with new dates. Fast and accurate billing is important to any business and Vantagepoint is helping project-based firms streamline this process.

Expenses Simplified

Employee expenses are a cost of doing business, but these shouldn’t be surprises. Deltek recognized that making expense submission easier can speed up the process. Now in Vantagepoint 3.5, the mobile expense feature has been greatly enhanced with the addition of intelligent character recognition (ICR) technology. What this does is allow users to take a picture of a receipt which Vantagepoint can read. The printed and handwritten text information from the receipt auto-populates into the fields in Vantagepoint. The typical information collected is where the expense occurred, the date, and the total amount of the purchase. Therefore, eliminating the manual entry of this information.

Do More with Deltek Vantagepoint 3.5

Each version of Deltek Vantagepoint will continue to grow upon the previous iterations. While we are only at 3.5, be on the lookout for more enhancements as more versions come out. It is truly exciting to learn and see where Deltek is taking Vantagepoint in the future and how it will make successful project management more intuitive and intelligent.