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Streamline Employee Data Management with the Blackbox Connector for Deltek Vantagepoint and ADP Workforce Now

Posted by Joel Slater on February 06, 2025

 

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Managing employee data across multiple systems can be a time-consuming and error-prone process for firms using Deltek Vantagepoint and ADP Workforce Now. The Blackbox Connector for ADP Workforce Now simplifies this challenge by seamlessly syncing employee data between the two systems. Designed with efficiency and accuracy in mind, this connector ensures your firm maintains a single source of truth while reducing the manual effort required to manage employee records.

What Is the Blackbox Connector for ADP Workforce Now?

The Blackbox Connector is an API-based integration that connects Deltek Vantagepoint with ADP Workforce Now. This pre-built connector automates the flow of employee data between the two systems, eliminating the need for manual data entry and reducing the likelihood of errors.

As best practice, ADP serves as the system of initial input for employee data. When a new employee is onboarded in ADP, the connector triggers the creation of their employee record in Deltek Vantagepoint. All mapped fields—such as demographic details, orgs/departments, hire dates, pay rates, PTO, education, skills, and even custom fields—are automatically synced to the Deltek Vantagepoint Employees hub. This creates a streamlined process where the relevant data captured during onboarding in ADP flows seamlessly into Vantagepoint without duplication of effort.

Key Features of the ADP Vantagepoint Connector

  1. Automated New Hire Sync:
    • Automatically provisions new employee records in Deltek Vantagepoint when new staff are added to ADP Workforce Now.
    • Transfers all mapped fields without requiring manual data entry.
  2. Ongoing Data Synchronization:
    • In addition to new hires, updates mapped fields for active/existing employees, ensuring any changes made in ADP (e.g., pay rate adjustments or organizational changes, PTO data, etc.) are reflected in Deltek.
    • Enables a daily synchronization schedule, with an on-demand button available in Vantagepoint for immediate updates.
  3. Seamless Termination Updates:
    • Syncs termination details from ADP to Vantagepoint, with timing logic and effective date configurations to manage the deactivation of employee records.
  4. Customizable Field Mapping:
    • During setup, clients work with our team to map fields from ADP to Vantagepoint based on their specific needs.
    • Supports a range of standard and custom fields for tailored integration.
  5. Operational Visibility:
    • The Blackbox Connector platform provides real-time visibility into the connector’s operations, including successful API calls and workflows.
    • Error logs allow clients to identify and address issues quickly, ensuring minimal disruption to operations.

Benefits of a Seamless Integration

  1. Eliminate Manual Data Entry: By automating data synchronization, firms reduce the time and effort required to manage employee records. This efficiency not only saves administrative hours but also allows HR and finance teams to focus on higher-value tasks.
  2. Ensure Data Accuracy: Manual data entry often introduces errors that can cause downstream issues in payroll, project assignments, and compliance reporting. The connector’s automated workflows minimize these risks, ensuring consistent and reliable data across both systems.
  3. Maintain a Single Source of Truth: With ADP Workforce Now as the primary input system of employee data, firms can rely on accurate, up-to-date information being reflected in Deltek Vantagepoint. This consistency enhances reporting, decision-making, and overall operational integrity.
  4. Support Scalability: Whether your firm is growing or adjusting to organizational changes, the connector’s customizable mappings and robust infrastructure ensure it scales with your needs.

See the ADP Vantagepoint Connector in Action

Curious to see how the Blackbox Connector for ADP Workforce Now can transform your employee data management? Click below for an overview of the solution. You’ll get a firsthand look at how this connector streamlines data synchronization, reduces manual effort, and enhances accuracy.

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The Ultimate Checklist for a Smooth Vision to Vantagepoint Upgrade

Posted by Cate Phillips on January 30, 2025

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Upgrading from Deltek Vision to Vantagepoint is a big step, and it can feel overwhelming. But fear not! With the right preparation, guidance, and tools, the transition can be smooth and set your firm up for long-term success. At Full Sail Partners, we’ve assisted numerous firms in navigating this process, and we’re here to share our expertise.

This checklist will help your firm prepare for the upgrade, ensuring a seamless transition. Let’s dive into the steps you need to take:

1. Explore Upgrade Resources on Full Sail Partners’ Website

Your first stop should be the Vantagepoint Upgrade Assistance Page on the Full Sail Partners’ website. This page consolidates everything needed, including links to resources from both Deltek and Full Sail Partners. It provides:

  • Guides and best practices for upgrading
  • Links to Deltek resources
  • Exclusive tools and services from Full Sail Partners

In addition to Full Sail Partners' resources, Deltek offers several tools to assist with your upgrade, including the Customer Assistance Program (CAP) and the Vantagepoint Readiness Portal. The CAP provides access to personalized consulting and technical support, while the Readiness Portal contains videos, training modules, and checklists to help firms navigate the upgrade process. Together, these resources ensure you have comprehensive support at every stage.

Navigating these tools will give you a clear understanding of what to expect and where to start.

2. Schedule a Vantagepoint Upgrade Consultation

Requesting a consultation with the Full Sail Partners’ team is an essential step. Consultants can:

  • Assess your firm’s current setup
  • Identify potential challenges or customizations
  • Provide tailored advice and a clear roadmap for the upgrade process

Ready for a consult today? Request a Vantagepoint Consult by clicking here.

3. Get a Personalized Vantagepoint Readiness Report

The next step is to identify the issues before upgrading. Our Vantagepoint Readiness Report identifies things that need to be cleaned-up prior to obtaining your preview environment and upgrade. The cost includes a consultant that will meet with you to review everything and discuss areas of importance. The report gives you a snapshot of your entire database and the items your firm needs to address.

This is the most critical and helpful step. It starts you down the path of knowing what you need to know. This process includes:

  • Reviewing your current database configuration
  • Helping you prepare a preview environment for your new solution
  • Identifying key areas for clean-up and adjustment

This readiness report ensures your firm is set up for success and ready for the next stages.

4. Review System Requirements and Compatibility

Before diving into the upgrade, verify that your hardware, software, and integrations meet the Vantagepoint requirements. The assistance page includes links to Deltek’s technical specifications. Ensure the following:

  • Servers and workstations meet performance requirements
  • Third-party integrations are compatible
  • Current workflows are reviewed to identify custom configurations

5. Cleanse Your Data, Review Processes & Make Desired Changes

Upgrading is the perfect opportunity to declutter your system and review your firm’s processes. The Vantagepoint Readiness Report is the perfect checklist of where to target your efforts. Some common reviews and updates include:

  • Archive old projects
  • Update and validate contact information
  • Standardize data fields for consistency
  • User roles and security settings

Clean data and clear processes will make the transition smoother and your new system more efficient.

6. Backup Your Current Vision System

Creating a full backup of your existing system is critical. A backup ensures you can recover data if any unexpected issues arise. This backup should include:

  • Project records
  • Contact lists
  • Financial data

It’s always better to be safe than sorry!

7. Configure Your Vantagepoint Preview Environment

This step may be handled internally, but many clients may ask for our assistance. Some of those things include technical services, weekly meetings, establishing new processes, training and configuration changes, and programming to automate clean-up. Some firms want to take the lead and only need guidance, while others want a more hands-on approach.

For projects that require more coordination, our firm will assign you a consultant to oversee the project and offer additional resources depending on what is revealed from the Vantagepoint Readiness Report. Should we need any additional custom scripts, that would be handled by one of our developers. Firms might also need assistance from one of our IT consultants for any technical items. It is hard to estimate needs since the readiness report helps to outline what is necessary.

8. Test the System in a Sandbox Environment

Before going live, testing is essential. A sandbox environment allows you to:

  • Simulate daily workflows
  • Run key processes, like project setups and reporting
  • Identify and resolve issues

Involve team members from various departments to get a holistic view of the system’s performance.

9. Train Your Team and Make Adjustments

Your team’s success depends on their understanding of the new system. Full Sail Partners offers comprehensive training resources. To prepare your team:

  • Host training workshops
  • Provide access to user guides and videos
  • Encourage hands-on practice in a sandbox environment

Deltek’s Vantagepoint Readiness Portal is also an excellent resource for team training. It includes interactive modules and videos tailored to various roles, ensuring every team member has the knowledge they need.

10. Make the Shift to Full Production

This step involves moving the preview environment to production. With our Transition Copy Scripts, firms can capture many of the changes in the preview environment and move them to production which eliminates having to redo things. The scripts can be run as many times as you would like at no additional charge.

During the Deltek Vantagepoint transition, firms can save time by capturing the changes made in the test environment. During the Vision upgrade, the upgrade scripts to Deltek Vantagepoint will bring over all of your data and custom fields. However, the field order is not retained, and screen design properties, saved searches, reports, and dashboard/dashparts will reset.

Using Full Sail Partners’ Transition Copy Scripts allows firms to retain their changes and eliminates redundancy and rework between each test upgrade and your final production environment. The execution of the scripts can be customized and/or run independently of each other.

11. Execute the Upgrade with Expert Support

When it’s time to go live, rely on experienced professionals to guide you. The Full Sail Partners’ team provides support to:

  • Troubleshoot issues
  • Minimize disruption
  • Ensure a smooth transition

Key considerations include:

  • Scheduling the upgrade during off-peak times
  • Having IT and consulting support on standby
  • Communicating a clear “go-live” plan to all users
  • Using the Deltek Vantagepoint Readiness Portal to confirm upgrade dates provided by Deltek - This portal includes the specific timeline for your firm’s upgrade and ensures that everyone involved is aware of the schedule

12. Follow Post-Upgrade Best Practices

Your upgrade doesn’t end at go-live. Post-upgrade optimization ensures you’re getting the most out of Vantagepoint. Post-upgrade steps include:

  • Monitoring system usage and performance
  • Scheduling follow-up training sessions
  • Staying informed about updates and new features

Scheduling regular check-ins to review system performance and address any user feedback is essential.

See All Vantagepoint Upgrade Resources in Mini-Demo

Upgrading to Vantagepoint is an exciting opportunity to enhance your firm’s operations. To explore all the resources available, including how to access the Vantagepoint Readiness Portal, watch my mini-demo. In it, you’ll find step-by-step guidance and practical tips to ensure your upgrade process is as smooth and stress-free as possible. Click the image below to watch today!

Did You Miss These Deltek Vantagepoint Updates?

Posted by Lisa Ahearn on January 23, 2025

01-23-25 Vantagepoihnt Features -  BannerIf you’ve been using Deltek Vantagepoint but haven’t kept up with the latest versions, you might be missing out on some game-changing features. Versions 7.0, 7.1, and 7.2 are packed with updates that make navigating, managing, and automating your work easier than ever. From smarter navigation to advanced AI tools, these updates are designed to save you time and streamline your processes. Let’s dive into the highlights to see what you might have overlooked!

NOTE: Not all companies were upgraded to versions 7.1 and 7.2. For those companies that did not get 7.1 and 7.2, those features and more will be in 2025. 

Jump to each section by clicking below:

Smarter Navigation to Save You Time

Enhanced Search Capabilities

Efficiency Features to Speed Up Your Workflow

Data Management and Customization

Automation That Does the Heavy Lifting

Accounting and Project Management Improvements

Visual and Dashboard Updates You’ll Love

Why Update Now?

Smarter Navigation to Save You Time

🚀 Redesigned Navigation Menu (7.0)
Tired of hunting for what you need? The redesigned menu now includes nested items and collapsible fly-outs for a more streamlined user experience.

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🔗 Open in New Tab or Window (7.1)
Right-click menu items or blue hyperlinks to open them in a new tab without losing your place. It’s a simple tweak that can make a big difference.

👤 Logged-In User Image Replaces the Gear Icon (7.1)
Your logged-in user image has replaced the gear icon in the upper right corner, giving a more personalized touch to accessing your preferences.

 

Enhanced Search Capabilities

🔍 Updates to Search (7.1)
Search now supports multiple values separated by semicolons, with operators like "equals" and "contains." Plus, you’ll find handy new filters for "this year" and "last year" to refine your results faster.

📥 Advanced Search and Download (7.2)
No more detours to print preview. You can now access advanced search and download directly via Other Actions or by clicking the three dots at the end of a row in Favorite Reports. This streamlined approach saves you time and clicks.

🔍 Advanced Work Breakdown Structure (WBS) Search (7.0)
Searching within the Project Hub is now more flexible. Toggle on Advanced Search to customize how lower WBS levels are displayed. Select your desired results and list view display type for a more tailored search experience.

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Efficiency Features to Speed Up Your Workflow

⌨️ Keyboard Shortcuts (7.0)
Speed things up with new shortcuts for navigating Vantagepoint like a pro.

📋 Jump to Row in List View (7.0)
Switch between grid and list views without losing your place. The record you’re reviewing stays in focus, so you can avoid unnecessary scrolling and stay efficient.

Row Level Validations in Transactions (7.0)
Transaction entry just got easier. You can now move to a new row without completing every field in the current one. Validation happens only when you click Save, making it simpler to copy rows and update key details like amounts or account numbers.

📋 Bulk Updates for List View (7.0)
Simplify your data updates with the new bulk update feature for list views. Make updates to multiple records at once, saving time and effort when managing large datasets.

 

Data Management and Customization

📂 Data Import (7.0)
User-Defined Hub imports are now available directly in the web browser, marking the first step toward transitioning all data imports from desktop to browser. Imports respect locked and required fields, and you can use Settings to trigger workflows or bypass Screen Designer for smoother operations.

🆕 Track New Records (7.0)
Creating multiple new hub records? While doing so, the search bar is now replaced with “New Records,” allowing you to quickly view and manage all the records you’ve just created without creating a new search.

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🛠️ Opt-In Features (7.0)
Not ready for every update? The Opt-In Features list in Settings lets you try enhancements before they become standard, making it easier to manage changes at your own pace.

 

Automation That Does the Heavy Lifting

🤖 Timesheet Assist (7.0 & Enhanced in 7.2)
This smart feature reminds users to complete their timesheets and suggests projects based on past activity. It’s now integrated into Mobile Time & Expense for even more convenience.

⚙️ Update Timesheet with Approved Absences (7.1)
Approved absences automatically populate timesheets, but you still have full control to edit as needed.

📅 Update Planned Hours from Approved Absences (7.0)
Approved absences can now flow directly into project plans with just a few simple configurations, saving you time and effort.

💾 Explicit Save in List View (7.0)
Make multiple updates to records and save them all at once. This reduces lag and makes updates a breeze.

🚀 Enhanced Navigation with Deltek Dela (7.2)
Deltek Dela takes accessibility to the next level by enabling users to quickly open applications and hub records—even when multiple records share the same name. This enhancement streamlines navigation and speeds up workflows, saving you valuable time.

🧠 AI-Powered Project Smart Summaries (7.0)
Let AI handle the busy work. Smart summaries provide insights into your projects without the need for multiple reports.

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Accounting and Project Management Improvements

📊 New Reports: Aged Unbilled Revenue and Project Forecast (7.0)
Gain better visibility into project financials and progress with these detailed new reports.

💸 Batch Billing Enhancements (7.2)
A single error in a batch no longer stops the whole process! Problematic projects are flagged and skipped, so you can resolve issues without holding up the rest.

🧾 Create Voucher from PO in Browser (7.0)
Voucher creation is now available directly in your web browser for a smoother, faster workflow.

📈 View Cost and Billing Rate Columns (7.0)
Plan more effectively with a side-by-side view of costs and billing rates in project planning. Access to cost is still restricted by security.

👀 See Employee Availability (7.1)
Need to reassign tasks? Employee availability is now visible directly from the employee card for better scheduling.

🛒 Purchasing Requisitions (7.0)
Streamline your purchasing workflows with optimized requisitions for Requests for Quotation (RFQ). This enhancement focuses your purchasing process for greater efficiency and accuracy.

📑 Create Billing Phases from WBS (7.0)
Save time on billing setup with the ability to generate billing phases directly from the Work Breakdown Structure (WBS). This feature simplifies phased fee billing and speeds up the creation of billing terms.

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💸 Update Fees Based on Compensation (7.2)
Project accountants and billers can now save time by updating fees in Billing Terms directly from Compensation. Easily identify and address variances between fee amounts in the billing terms and compensation areas for more accurate billing.

📒 General Ledger (GL) Account Review (7.0)
GL Account Review sets the stage for future enhancements, including user-defined fields in transaction entry. User-defined fields can be set up in 7.0 and the data added in GL Account Review after transactions are posted. Future updates will allow this information to be included during transaction entry.

Think of GL Account Review as a quick and easy way to view activity for one or more GL accounts or transaction types without running a full report, streamlining your financial oversight.

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Visual and Dashboard Updates You’ll Love

🎨 Customizable Dashpart Titles (7.0)
Make your dashboards your own by customizing title bars and font colors.

📊 Funnel Dashpart (7.1)
This new chart type makes it easier to track projects by stage, giving you a clear visual of progress at a glance.

📊 Org-Level Reporting in Dashboards (7.2)
Get deeper insights with the new organization-level reporting feature in dashboards. Easily view metrics like hit rate, revenue, and cost by organization to support better decision-making and performance tracking.

📅 AR Collections Forecast Dashpart (7.2)
Forecast cash flow based on average collection periods for more informed financial planning.

📊 AP Detail Dashpart Base (7.0)
Gain better visibility into financial details with the AP Detail Dashpart Base. Access Voucher Review information, including Paid-When-Paid details, across multiple companies and currencies. Need a quick snapshot of payables due in the next 30 days? Use this base to create a KPI dashpart and stay ahead of your financial planning.

 

Why Update Now?

The latest updates to Vantagepoint are packed with smarter navigation, enhanced automation, and powerful dashboard features to simplify your workflows and free up your time for strategic work.

Want to see these updates in action? Explore Powering Project Success with Deltek Vantagepoint, our mini-demo series showcasing dozens of impactful features. Click the image below to discover how these tools can help you streamline your processes and drive project success!

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Jumpstart January with Full Sail Partners’ Best of 2024

Posted by Lindsay Diven on January 09, 2025

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Happy New Year and welcome to Jumpstart January—our month-long celebration of fresh starts, big ideas, and actionable insights to kick off 2025 with a bang! As we dive into the new year, let’s take a moment to reflect on the content that inspired and empowered you in 2024.

From blogs and webinars to live events, we’ve compiled the very best of what resonated with you last year. Think of this as your highlight reel, ready to help you jumpstart your goals and make smarter, data-driven decisions in 2025. Let’s jump in!

📝 Most Popular Blog Articles: Mastering the Financial Side of Projects

When it came to blog content, 2024 was all about tightening up your project finances. From mastering write-offs to demystifying work breakdown structures, these posts helped you manage the numbers like a pro:

  1. Handling Write-Offs the Right Way
    Writing off expenses doesn't have to feel like guesswork. This article became your guide for tackling write-offs with confidence.
  2. What’s New in Vantagepoint 7.0?
    Who doesn’t love new features? This blog spilled all the details on what made Vantagepoint 7.0 the MVP of 2024.
  3. Simplifying Project Budgeting in Deltek Vantagepoint
    This fan favorite showed you how to turn project budgeting from a chore into a streamlined process.
  4. Understanding the Impact of Work Breakdown Structures
    Structure matters! You loved learning how to set up WBS and OBS to keep projects running smoothly.
  5. The Unknown Features of Timesheets in Deltek Vantagepoint
    Timesheets aren’t just for tracking hours. This post revealed hidden features that make them a powerful tool for project success.

🎥 Most Popular Mini-Demos & Webinars: Turning Data into Decisions

Last year, you showed us you’re all about working smarter, not harder. Our mini-demos and webinars brought dashboards, KPIs, and data-driven insights straight to your screen, helping you make informed decisions faster:

  1. Webinar: What’s New in Deltek Vantagepoint 7.0
    If you missed this one, it’s worth a watch! Discover the features that made Vantagepoint 7.0 a game-changer.
  2. Mini-Demo: Fun with Dashboards
    Dashboards aren’t just functional—they’re fun! This demo helped you visualize your data with style.
  3. Mini-Demo: Exploring KPI Dashparts
    Make KPIs your secret weapon. This mini-demo showed you how to track what matters most.
  4. Mini-Demo: Deltek Vantagepoint’s New Timesheet Assist
    Timesheet Assist became your new best friend in 2024. Learn how to streamline time tracking and approvals. 
  5. Mini-Demo: Ready-to-Use Informer Dashboards
    You asked for ready-made solutions, and we delivered! This demo explored dashboards tailored for project and financial management.

📣 Most Popular Live Events: Learning from Industry Experts

Our live events in 2024 gave you a front-row seat to hear from your peers and industry experts. From marketing tips to project health insights, these events helped you embrace best practices and fresh ideas:

  1. Charting a Course for Impactful AEC Marketing Meetings
    Let’s be honest, marketing meetings can feel like a slog. This event gave you strategies to make them effective and engaging.
  2. Hear from Your Peers: Monitoring Projects’ Financial Health
    Real-world advice from real-world pros. This event shared practical tips for keeping projects financially healthy.
  3. Hear from Your Peers: Embracing Change for Success
    Change is inevitable, but thriving through it is a skill. This session inspired you to adapt and succeed.

Jumpstart Your 2025 with Full Sail Partners

If 2024 was any indication, you’re ready to hit the ground running this year. Use these highlights as your launchpad for tackling challenges, improving processes, and achieving your goals in 2025.

Want to make sure you don’t miss a single update, tip, or event this year? Subscribe to our newsletter today! It’s the easiest way to stay in the loop on all the new content, webinars, and expert insights we’ll be sharing in 2025. Let us help you jumpstart your success and keep the momentum going all year long!

[Subscribe Now] and let’s make 2025 your best year yet! 🚀

Simplifying Personalized Holiday Messages with Deltek Dela™ AI-Powered Companion

Posted by Wesley Witsken on December 12, 2024

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In today’s fast-paced business world, efficiency is key. As organizations continue to embrace digital tools to streamline workflows, Deltek has introduced a powerful new assistant: Deltek Dela™. This AI-powered digital assistant, integrated directly into Vantagepoint, allows users to interact with their data using natural language queries. It’s designed to simplify your work by helping you find critical project details, team member information, and even draft written content with ease. One of the most compelling features of Dela is its ability to assist with content creation, and in this blog post, we’ll explore how it can be used to create personalized holiday mailing cards.

What is Deltek Dela™?

Dela, an AI-powered assistant, is designed to make Vantagepoint more intuitive and efficient. By using natural language, users can easily query data from various hubs within Vantagepoint, such as Projects, Employees, Firms, and Contacts. This allows for seamless data analysis and content creation, all in real-time, without the need for complex navigation.

Dela is especially useful for ad-hoc analysis, drafting written content, and summarizing data, making it a versatile tool for both everyday tasks and larger projects. However, while it’s powerful, Dela does have some limitations, including access to only certain types of data and hubs (without user-defined fields and grids). Despite these restrictions, the tool proves to be incredibly effective when paired with free-form text entries, such as those found in the Activities grids.

The Holiday Mailing Card Use Case

One example of how Dela can simplify your workflow is in the creation of personalized holiday cards. Consider a firm that regularly sends out holiday greetings to its clients. While this is a thoughtful gesture, the time it takes to craft individualized messages can be overwhelming—especially when trying to incorporate personal details like special milestones or activities associated with a client.

This is where Dela shines. By querying activity data related to a specific contact, users can easily draft personalized messages in just a few steps. Let's walk through how this process works using Dela’s functionality.

Step 1: Querying Activities

First, users can query Dela for specific activity information tied to a contact. Activities are a crucial part of the Vantagepoint system, allowing users to record detailed notes and interactions with clients. These free-form text entries often include valuable insights like the client's personal interests, upcoming or past milestones, and important life events—perfect for creating personalized content.

Because the Notes section of Activities is free form, it is extremely easy for normal system users to add information. There is no need for them to find a correct dropdown, grid entry, or checkbox in the record. As long as users are trained to use Activities, they can simply add whatever information they deem interesting about the contact.

For instance, let’s say one of the firm’s contacts, Allen, had a meeting with a Project Manager concerning a current project. During that meeting, he mentions that his wife is pregnant. Afterward, the Project Manager adds a note to the Vantagepoint Activity for this meeting:

“Allen mentioned his wife is having a baby in 5 months.”

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This Activity is stored in Allen’s profile but locating that detail manually would be time-consuming. Instead, Dela can quickly summarize this information and help users generate a meaningful message.

A simple prompt to Dela could be: “Based on the activities for this contact, create a personalized holiday email for him.”

Step 2: Dela Responds

Once the prompt is entered, Dela quickly processes the data and generates a draft email. Here’s an example of what Dela might provide:

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In just a few seconds, Dela has generated a thoughtful, personalized message that acknowledges Allen’s life event—without the user needing to sift through Activity entries and notes or manually write the email.

Step 3: Editing and Sending

Once the message is generated, the user can easily review and edit the content before sending it. With Dela’s integration into Vantagepoint, there’s no need to switch between different platforms or tools. The user can either click a button to send the email directly or copy the content to paste it elsewhere.

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Dela offers additional customization options, such as the ability to adjust the tone of the email. For example, users could choose a more formal or informal style depending on the nature of the client relationship. The integration with Vantagepoint also ensures that all the relevant details, such as the firm’s branding and contact information, are included in the email template.

Why Dela’s Capabilities Shine with Activities Data

This holiday email example highlights one of Dela’s most impressive features: its ability to interpret and summarize free-form text entries in the Activities grid. These notes can range from personal milestones (like Allen’s baby news) to project-specific insights. While these activities can be time-consuming to sift through manually, Dela effortlessly distills them into concise summaries.

Furthermore, since Dela retains the context of the conversation, users can easily follow up on previous queries. For example, if the user asked for the activity summary and then wanted to see additional details about Allen’s current project, they could follow up with another simple prompt like, “What is the latest activity recorded for this contact?” This fluid, conversational interaction makes Dela a natural tool for generating content and obtaining real-time data insights.

By leveraging Dela’s capabilities alongside the free-form text in Activities, users can quickly generate meaningful, personalized content for clients, improving both the quality of interactions and overall productivity.

Enhance Workflow and Productivity with Deltek Dela™

Dela exemplifies how AI-driven tools can enhance workflow and productivity, especially when paired with rich, unstructured data-like Activities. The ability to turn detailed, free-form notes into cohesive and personalized messages in mere seconds can save professionals time and effort, while also fostering stronger client relationships. Whether you’re sending out holiday greetings, drafting follow-up emails, or simply summarizing project activity, Dela is a powerful tool for getting the job done quickly and efficiently.

This example of using Dela for personalized holiday messages is just one of many ways this tool can streamline your workflow. By understanding how Dela interacts with the data and hubs within Vantagepoint, users can harness its full potential to make their tasks easier and more effective.

Learn how Deltek is powering the future for project-based companies with a recap from their most recent user-conference, Deltek ProjectCon. Click the image below to learn more.

Revitalizing Marketing Strategies for Services and Project-Based Firms

Posted by Lindsay Diven on July 18, 2024

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Consumers. Buyers. Clients. Users. Customers. You want them, you need them, regardless of the business you own. But does the type of business you own affect how you market to them? Absolutely! Marketing for service and project-based firms can be a tricky task, requiring a blend of formulaic approaches and individual creativity. What you’re marketing makes all the difference.

Defining Your Business Type

Understanding the nature of your business is crucial to crafting an effective marketing strategy. Different types of businesses—whether they offer tangible products, intangible services, complex projects, or a mix of both—require tailored marketing approaches to reach and engage their target audiences effectively.

  • Product-Based Firms: These organizations offer tangible products to their customers—items that can be packaged and placed on a shelf. Marketing for these firms is often straightforward and follows textbook examples taught in marketing classes nationwide.
  • Service-Based Firms: These organizations primarily offer people, processes, or expertise. Since you can't package people or put a process on a shelf, marketing must be approached differently.
  • Project-Based Firms: Similar to service-based firms, these organizations manage and deliver projects, often involving complex coordination of resources and expertise. Marketing for project-based firms needs to highlight the firm's ability to deliver successful projects, meet client needs, and provide specialized expertise.
  • Hybrid Firms: These businesses offer a mix of products and services. Marketing efforts must be tailored to each target market segment, emphasizing both tangible and intangible offerings.

Tailoring Your Marketing Strategy

When marketing a product, you let the product speak for itself, showcasing how it solves customer problems. This can be done through demonstrations, videos, or testimonials showing the product in action. Marketing for service and project-based firms is a bit different, yet fundamentally similar. Services and projects solve problems too, but you need to highlight client stories and testimonials. Here’s how:

  • Client Testimonials: Just as with products, services, and projects solve problems. Share success stories from your clients, showcasing how your services or projects have positively impacted their businesses. For example, platforms like Google and Trustpilot use client reviews to market professional services.
  • Client Feedback Tools: Gathering feedback from your clients is essential. Tools like the Client Feedback Tool from Client Savvy allow you to collect regular and periodic feedback from clients about their engagements. This feedback can provide constructive criticism and highlight your strengths, both of which are invaluable for refining your services and enhancing your marketing efforts.

The Power of Client Retention

One significant advantage of service and project-based firms is the potential for high client retention. Happy clients not only contribute to your marketing efforts through word-of-mouth but also ensure a steady revenue stream. Here are some compelling statistics:

  • A 5% increase in customer retention can increase a company's profitability by 75% (Bain & Co.).
  • 80% of your company's future revenue will come from 20% of your existing customers (Gartner Group).
  • Attracting new customers costs five times more than retaining existing ones (Lee Resource Inc.).

Leveraging Client Relationships in Marketing

Happy clients are your secret weapon in marketing your services or projects. Their satisfaction can lead to long-term relationships and a healthier bottom line. Here are some strategies to leverage these relationships:

  • Case Studies: Develop detailed case studies that highlight how your services or projects have met client needs and solved their problems. These case studies can be powerful tools for showcasing your expertise and success.
  • Client Engagement: Regularly engage with your clients through newsletters, updates, and personal check-ins. Keeping the lines of communication open helps maintain strong relationships and encourages repeat business.
  • Client Testimonials and Reviews: Actively seek and share positive testimonials and reviews from your clients. Highlighting client satisfaction through various platforms can build trust and attract new customers.
  • Client Appreciation Events: Host events to show appreciation for your clients. These can be virtual webinars, in-person workshops, or networking events. Such initiatives can strengthen your relationship with clients and provide additional value.
  • Social Media Engagement: Feature your clients on your social media channels. Share their success stories, tag them in posts, and engage with their content. This not only highlights your collaboration but also broadens your reach through their network.
  • Educational Content: Provide clients with valuable content that addresses their pain points and interests. This could be in the form of blogs, whitepapers, webinars, or how-to guides. Educating your clients not only helps them but also positions your firm as an industry leader.
  • Surveys and Feedback: Regularly ask for feedback through surveys to understand client needs and areas for improvement. This proactive approach shows clients that you value their opinions and are committed to enhancing their experience.
  • Partnership Programs: Develop partnership programs with your clients, where you can collaborate on joint marketing initiatives or co-host events. This creates a win-win situation and strengthens the professional bond.

By implementing these strategies, service and project-based businesses can effectively leverage client relationships to enhance their marketing efforts and drive long-term success.

Harnessing Client Feedback for Strategic Insights

Marketing for service and project-based firms requires a nuanced approach that leverages client feedback, highlights successful engagements, and emphasizes the value of long-term relationships. Tools like the Client Feedback Tool can help you gather valuable insights, tailor your marketing efforts, and ultimately boost client retention and satisfaction. By focusing on your clients' stories and continually improving your services based on their feedback, you can create a powerful marketing strategy that drives growth and success.

Navigating the Upgrade to Deltek Vantagepoint

Posted by Cate Phillips on May 30, 2024

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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.

 

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Mergers and Acquisitions: Harness the (Data Integration) Beast

Posted by Lisa Ahearn on May 16, 2024

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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! 

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A Professional Services Firm’s Guide to Making Conferences Meaningful

Posted by Evan Creech-Pritchett on May 09, 2024

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Conferences are more than just gatherings of like-minded professionals; they are opportunities for growth, networking, and strategic advancement. However, navigating them can be a bit daunting without a clear strategy in place. Let’s talk about some key concepts that will help your professional services firm on the way to mastering the art of impactful conference strategies.

Reframe Your Thinking About Conference Selection

Choosing the right conferences to attend is extremely important for maximizing your professional services firm’s time and resources. It is important to focus on more than just the prestige or popularity of an event; consider factors such as the relevance of topics covered, the caliber of speakers and attendees, and the potential for creating meaningful connections.

Moreover, you should consider the location and timing of the conference. Make sure that it fits well with your schedule and provides convenient access to travel arrangements. By reframing your thinking to prioritize quality over quantity, you can ensure that each conference you attend offers genuine value and opportunities for growth.

Discover How to Be Methodical and Objective in Your Approach

Approaching conference selection with a methodical and objective mindset can help streamline your professional services firm’s decision-making process. Start by clearly defining your goals and objectives for attending conferences. For example, are you expanding your professional network, gaining industry insights, or showcasing your expertise?

Next, conduct thorough research on upcoming conferences, evaluating factors such as agenda, speaker lineup, past attendee reviews, and cost-effectiveness. You should consider creating a checklist or rating system to objectively assess each conference's suitability based on your criteria. This allows for a more organized and informed selection process. By taking a systematic approach, you can identify the conferences that align best with your objectives and priorities.

Learn How to Be Mindful of Any Emotional Biases Influencing Your Decisions

It's essential to be mindful of any emotional biases that may influence your professional services firm’s conference selection process. Whether it's the fear of missing out on a popular event or because you’ve always attended, emotions can cloud judgment. Practice self-awareness and introspection to identify any biases at play like confirmation bias or sunk cost fallacy.

Furthermore, you should seek feedback from trusted colleagues or mentors. This helps to gain different perspectives and mitigate the impact of personal biases on your decision-making process. By approaching conference selection with a clear and rational mindset, you can make more informed choices that align with your firm’s professional goals.

Tips to Optimize Your Conference Strategy

Once your professional services firm has selected the conferences to attend, it's time to optimize your overall strategy to maximize your experience and outcomes. Start by creating a detailed itinerary, including sessions, networking opportunities, and any additional events or meetings. Leverage social media platforms such as LinkedIn to connect with fellow attendees and speakers before the conference. This will help facilitate meaningful interactions and collaborations.

Also, consider attending workshops or interactive sessions that offer hands-on learning experiences and opportunities to develop your skills. These activities will enhance the value you derive from the conference. During the conference, prioritize quality over quantity when networking, focusing on building genuine connections rather than collecting business cards.

Don’t Forget Your Follow Up Strategy

Finally, don't forget the importance of post-conference follow-up. One effective strategy is to have dedicated individuals responsible for follow-up tasks, so that no potential leads slip through the cracks. Whether it's sending personalized emails, brochures, or scheduling follow-up meetings, prompt and tailored communication can leave a lasting impression on your contacts.

You should also consider leveraging tools or systems to streamline the follow-up process. Scanning business cards or badges at conferences allows for the inputting of contact information directly into your database, and it is a very efficient way to track connections. By prioritizing follow-up efforts and utilizing available resources, you can maximize the return on investment from attending conferences.

Make Your Professional Services Firm’s Conferences Meaningful

Mastering impactful conference strategies requires a combination of strategic thinking, mindfulness, and proactive planning. Reframe your professional services firm’s approach to conference selection, adopt a methodical mindset, and be mindful of emotional biases; you can then optimize your overall strategy and make the most of your conference experiences.

Remember to prioritize quality over quantity and focus on building genuine connections. Furthermore, always follow up with your connections post-event. With these strategies in place, you'll be well-equipped to navigate the conference landscape with confidence and purpose.

Need a deeper dive into making your conferences count? We’ve got a LinkedIn Live with a conference guru that brings all these points and more together. Click below to watch today!

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The Importance of Benchmarking in Measuring Business Growth

Posted by Lindsay Diven on May 02, 2024

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For project-based firms like those in engineering, architecture, and consulting, failing to measure and understand business performance against industry standards can lead your business towards stagnation or decline. Benchmarking, the critical practice of comparing business processes and performance metrics to industry bests and best practices from other companies, is not just beneficial—it's essential. Without it, firms remain blind to their operational inefficiencies and market position, risking obsolescence.  

By rigorously examining internal operations against recognized standards, firms can pinpoint critical deficiencies and implement strategic changes, ensuring survival and fostering growth in an ever-evolving marketplace. This article will guide you through the importance of benchmarking, how to get started, identify key performance indicators, and effectively integrate these practices to drive business success. 

Why Benchmarking Matters for Project-Based Firms 

For project-based businesses, every project represents a complex interplay of resources, time, and client requirements. Benchmarking provides a structured approach to analyzing these elements by focusing on Key Performance Indicators (KPIs) that drive business success. It allows leaders to make informed decisions based on data-driven insights, rather than intuition alone. 

The importance of benchmarking in this sector cannot be overstated. It helps firms: 

  • Identify Efficiency Gaps: Benchmarking can highlight discrepancies between a firm’s current practices and the industry's best, allowing for targeted improvements. 
  • Enhance Competitive Advantage: Understanding where you stand in the market can help you leverage your strengths and address weaknesses, setting you apart from competitors. 
  • Drive Strategic Planning: With a clearer picture of how well you perform against benchmarks, you can prioritize initiatives that drive growth and enhance profitability. 
  • Improve Financial Performance: By aligning operations more closely with successful benchmarks, firms can improve profitability through better resource management and cost control. 

Getting Started with Benchmarking 

Implementing a successful benchmarking process involves several steps, from choosing relevant KPIs to analyzing external data. Here’s how to get started: 

Step 1: Define Relevant KPIs 

Selecting the right Key Performance Indicators (KPIs) is crucial as these metrics will guide your benchmarking efforts and influence strategic decisions. For project-based firms, understanding both financial and operational performance is essential. Consider the following essential metrics: 

  • Utilization Rate: This measures how effectively the firm uses its billable staff. A high utilization rate often correlates with higher profitability and is a clear indicator of workforce efficiency. 
  • Net Labor Multiplier: A critical profitability metric that assesses how much revenue is generated per salary dollar paid. It highlights the financial effectiveness of human resource investment. 
  • Operating Profit: Looks at the firm’s earnings before interest and taxes, providing insight into operational efficiency and overall financial health. 
  • Current Ratio: This financial ratio measures a company's ability to pay off its short-term liabilities with its short-term assets. A strong current ratio indicates good liquidity health, crucial for maintaining smooth operations and responding to unforeseen challenges. 
  • Employee Turnover: An important metric for understanding employee retention and satisfaction. High turnover can indicate underlying issues in workplace culture or compensation, affecting project continuity and increasing recruitment and training costs. 

Beyond these metrics, firms should also tailor additional KPIs based on their strategic goals and industry specifics. For instance: 

  • Client Satisfaction Scores: Measure the satisfaction levels of your clients through surveys and feedback mechanisms. High satisfaction scores are often indicative of repeat business and client referrals. 
  • Project Completion Rate: Tracks the percentage of projects completed on time and within budget, crucial for maintaining client trust and operational efficiency. 
  • Billable Efficiency: Compares billable hours to total hours worked to assess how much of the workforce’s time is generating revenue. 

By defining these KPIs, firms can not only gauge their current performance but also set benchmarks that align with both industry standards and internal aspirations. This holistic view enables leaders to make informed, strategic decisions that drive growth and improve efficiency. 

Step 2: Gather Internal Data 

Once KPIs are defined, the next step is to compile data from your operations. This involves tracking these metrics over a significant period to establish an internal baseline. Utilize your existing ERP, such as Deltek Vantagepoint, to extract historical data, ensuring it’s accurate and comprehensive. 

Step 3: Find External Data for Comparison 

Once you've gathered and analyzed your internal data across selected KPIs, the crucial next step is to seek external benchmarks for meaningful comparison. This process, while challenging, is essential for gaining real insights and is entirely achievable with some diligent effort. 

A straightforward approach might involve hiring a consultant to dive deep into the metrics and performance of your competitors. However, a more cost-effective method is to leverage existing third-party studies and industry reports available online. These resources provide a wealth of comparative data and are often underutilized. 

Take, for example, Deltek's annual performance study specifically tailored for the architecture and engineering sectors. This comprehensive analysis reviews critical KPIs and distinguishes high-performing firms from their peers. Interestingly, recent findings suggest that while overhead and utilization rates are consistent across the board, top performers often share distinctive traits. These include enhanced efficiencies throughout their project lifecycle and a robust set of standardized company practices. 

In addition to industry-specific reports like Deltek's, broader marketing and business studies can also offer valuable insights. For instance, the marketing research firm Hinge regularly publishes analyses on high-growth firms across various professional services industries. These reports not only highlight what successful firms do differently but also challenge common misconceptions, such as the idea that high growth in certain smaller firms is merely an anomaly. 

The key takeaway is that valuable data is out there; you just need to know where to look. By comparing your internal metrics against these rich data sources, you can identify where you stand relative to the industry's best and learn from the strategies that set top performers apart. This process doesn't just measure your current performance—it provides a roadmap for where you need to go to achieve similar success. 

Step 4: Analyze the Data 

With both internal and external data at hand, perform a thorough analysis to identify trends, gaps, and opportunities. Look for patterns where your firm excels or underperforms compared to industry benchmarks. This analysis should go beyond mere numbers; it should help understand the underlying causes of discrepancies and what they mean for your business operations. 

Step 5: Incorporate Benchmarking into Management Practices 

Effective benchmarking should be an ongoing process, not a one-time event. Integrate these practices into your regular management routines. Regularly update your benchmarks and internal assessments to keep them relevant. Use benchmarking insights to set realistic performance goals, inform strategic decisions, and drive continuous improvement across your organization. 

Harnessing Benchmarking for Strategic Advantage 

Benchmarking transcends being merely a tool for measuring success; it is a comprehensive strategy that cultivates a culture of continuous improvement and strategic agility. For leaders of project-based firms, embedding benchmarking into daily business operations is crucial for illuminating the pathway to enhanced performance and enduring growth. 

By adopting benchmarking, your firm not only aligns with industry standards but also positions itself to proactively respond to evolving market conditions and capitalize on emerging opportunities. In a business landscape that is constantly changing, the firms that will flourish are those committed to measuring, comparing, and adapting based on solid data. 

To further explore how benchmarking can be seamlessly integrated into your strategic planning, I invite you to learn more about our Navigational Analysis Process. This tailored approach will guide you through identifying, analyzing, and leveraging critical data to not just meet but exceed industry benchmarks, ensuring your firm's competitive edge. Let's navigate your path to success together—click the image below to begin your journey. 

 

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