Deltek has revealed the latest update to its Government Contractor ERP solution Costpoint. They also shared how Costpoint has contributed to record growth at the company in 2021. Deltek has increased revenue in the SMB sector by 20%, a third of which is due to Costpoint. The Deltek Costpoint solution is a complete project-based ERP solution for government contractors. It is a leader in the most recent G2 Grid for Project-Based ERP Software.
What is in Costpoint 8.1
The release builds on the functionality within Costpoint 8.0, and further improves the user experiences, adds integrations and features for project-based and manufacturing firms. Below are some of the key features. Customers can access the full release notes here. At 222 pages long, they are not a light read.
User experience
Deltek continues to enhance the user experience. The release has added new navigation banners that enable users to switch between features within the solution quickly. It has also introduced new features powered by AI including new reports, executive dashboards and others.
Time entry automatically calculates the amount of overtime completed by a contractor. Using the mobile app, contractors can now enter the time offline, and they can even add time hands-free using an interactive voice feature on both the mobile app and desktop version. This enables them to add hours, save, sign, and close timesheets.
The automated receipt capture now uses ICR (intelligent character recognition) to capture credit card transactions onto an expense claim.
Voice commands are also available in other areas of the solution. CRM users can add and update leads and contacts, for example.
Integrations leverage the Deltek platform
There are enhancements to the integrations with two other Deltek solutions. CRM users can take advantage of enhanced integration with GovWin IQ. CRM users can now add the Cybersecurity Maturity Model Certification (CMMC) level to opportunities. If GovWinIQ is available, the CMMC level is imported along with the opportunity detail into Costpoint. GovWinIQ can also provide opportunity assessments. Costpoint users can import these from GovWinIQ or manually enter them.
The Outlook integration now allows users to add meetings or tasks to their calendars. ICS tasks can be downloaded by Costpoint and added to the user’s calendar.
There is also a new integration with Deltek Talent Management. Resource managers can create an employee requisition direct from Costpoint. This is useful when they perceive a potential shortage of a specific resource. It can also accelerate the hiring process. It means they can get internal employees quicker and reduce the need for more expensive external contractors. Additionally, Deltek has added the Deltek Talent Management Integration Console, which offers further control over the integration between the two applications
Supplier portal enhancements
Users can now submit RFQs to vendors using the supplier portal. Suppliers can also respond to RFQs. The portal ensures information relating to the RFQ and the subsequent quote is always visible.
The feature supports the lifecycle of the RFQ and includes email notifications of changes and the ability to track progress. Where purchase orders are subsequently issued to suppliers for those quotes, the DPAS (Defense Priorities & Allocations System) ratings are now visible on the PO.
There are many other features, including new reports, updated administration features, etc. Warren Linscott, Chief Product Officer at Deltek, commented: “For nearly forty years, Deltek has been rooted in government contracting – and no one knows the industry better than our deep bench of experts. Our customers have trusted our solutions as the gold standard that helps them power their project success.
As part of our commitment to Deltek Project Nation, we continue to focus on making project-based businesses even more successful and never stop improving upon our solutions. As we grow and evolve our business, we are continuing to invest in purposeful innovation to support government contractor’s need for speed, agility and competitive differentiation initiatives.”
Enterprise Times: What does this mean
For a point release, this update has many enhancements that will please users. The added integrations to other Deltek products make sense. They also enhance the benefits that those solutions will add to Costpoint users. The tighter integration with GovWinIQ will improve efficiency, and the integration of Talent Management demonstrates how Deltek is aligning its solutions together.
Deltek will hope to expand its footprint within the Government Contractor marketplace with these updates. Many of the new features either improve efficiency or remove manual processes and help organisations transform digitally. Breaking down the manual barriers between different applications is key to this. The integrations with GovWinIQ and Deltek Talent Management for those customers that use them are noteworthy. What is next? Will Deltek further enhance the integration with Talent Management? It will be interesting to see.
