When we first launched the product Deltek for Professional Services (DPS) in 2017, we went to market with a solid name that reinforced the focus on professional services organizations. Deltek for Professional Services provided a clear focus on project centric service industries, and the name served us well in talking about the next generation capabilities within the product. As we advance the capabilities of this product we wanted to take the opportunity to refine that name to reflect the promise of the upcoming full solution. Our next release will be called Deltek Vantagepoint. Why? Because when released Deltek Vantagepoint will be the only end-to-end, project-centric ERP solely focused on the Management & IT Consulting and Architecture, Engineering & Construction (AEC) industries.  This new release will give our customers an even better vantage point in all phases of the project lifecycle.

Deltek Vantagepoint reflects the unparalleled visibility customers will receive when the next release is delivered to market.  It delivers on our promise of a complete end-to-end, project-centric ERP solution for Consulting and AEC firms around the globe. By updating the product name, we’re able to rally around our brand and product promise, and drive our benefits-focused message into the industries we serve.

We’re looking forward to the release of Deltek Vantagepoint as the next version of DPS with a great new name.  As William Shakespeare famously wrote, “A rose by any other name would smell as sweet.”

Read more here

 

Project Information Management. Access critical firm-wide and document information in one central location

It’s a competitive world out there and whether you’re a lawyer, architect, engineer or contractor, the need to organize your emails and documents is critical. Organized information saves you time, and saving time saves money.

 

1. Are your emails overflowing?

People spend nearly 2-3 hours a day on email-related activities, consuming 20-30% of their business day. Firms with document information management systems spend minutes, not hours, with email.

2. Can you find your firms critical documents?

6 in 10 firms rely on network folders to manage projects, but face inconsistent file structures, accidental deletion, drag-and-drop displacement hindering productivity and negatively impacting utilization. Firms can proactively manage documents through the entire legal lifecycle instead of waiting until the matter is complete to start organizing files.

 3. How quickly can you find critical documents?

Firms can spend hours, if not days, tracking down critical project information, wasting valuable resources and critical project time. With project information management, firms can find drawings or documents completed yesterday, last week or last year in a matter of minutes.

 

4. Do your teams struggle to share & manage files internally & externally?

Only 9% of firms have a single enterprise-wide collaboration system. Yet, 75% believe sharing documents is the most important way to improve collaboration. 

 

 5. Is your firm’s information a liability or an asset?

The average cost of a single misplaced file is more than R1000. Think of that times the number of files in just a single project. An effective document management strategy could reduce cost by 30% and lower risk by 23%.

 

Register below to Enquire more information

By Jerry Lee

To adapt or to customize your ERP? This decision requires prudence when implementing an ERP system.

Often, business problems are tackled with a customization rather than evaluating if the business process can be adjusted to work within the base system design of the ERP. Businesses also often start applying customizations without fully understand any implications that may have an impact in the long run. There are times where custom functionality is needed and customization is great to get “what you want”, but what’s the catch? Let’s take a look at the pros and cons:

PROs:

  • It resolves specific required functionality not native to the ERP system. Even so, there’s more than one way to skin a cat, why customization?
  • We are living in a customizable world, in the era of new technologies allowing users to customize and personalize their own applications. Been accustomed to this flexibility, it becomes difficult for people to adjust.
  • Protect competitive advantages that have made organizations successful. This is what makes the organization unique from its competitors. Because it is unique, no ERP software is able to provide as an out-of-the-box functionality.

 

CONS:

  • Upgrades becomes more complex, costly, and risky because a special upgrade path will be necessary.
  • Help desks typically does not support customizations, this is because they do not have the knowledge of the customization.
  • Potential interference or incompatibility with future implemented modules if the customization is poorly designed.
  • Outdated (or zero) documentation is very common for customizations often due to delivery pressures.
  • Having to do your own testing extensively for every affected module in the ERP system, because you are the only one with this unique requirement.
  • The risk of customizing for the wrong reason. For every customization that has been identified, we need to ask if the customization is really necessary. It can be a possibility that the customization is required because the people does not want to adopt new business processes and software functionality. This could suggest that the organization should invest in change management to help people adapt to new ways of doing things rather than investing in customizations.

 

Customizations can be inevitable in organizations, the key is to understand the implications and find the right balance. And most importantly keep it simple because “Simplicity is a competitive advantage”!

 

Take Away: Applying Industry Best Practise

As feasibility allows, make efforts to implement the customization outside the ERP system. The customization can be either an interactive interface or a batch process as a standalone. This approach can be to your advantage over customizing your ERP in the long term. Having a standalone may mean not having a seamless interface but you need to consider the key advantages for adapting to your ERP:

 

  • Easier upgrade path allowing you to take advantage of the standard software upgrade releases with minimal upgrade effort.
  • Less time and costly to upgrade by eliminating custom functionality troubleshooting and debugging efforts.
  • Access to support documentation and knowledge-base because you are not the only one with the knowledge of the system’s functionality, information will be widely available.

Want to know more on ERP implementation? Download our ERP for dummies eBook below:

 

Discover how transparency provided by ERP software can increase resource utilisation and profitability.

 

Focusing on your project lifecycle as a whole is one of the best ways for Professional Services companies to optimise efficiency and hence profit margin. Resource utilisation, time from proposal to completion and time from completion to payment are three key aspects of a project lifecycle which can maximise profitability if carefully managed.

Our slideshow explores how, by concentrating on these three aspects of your service delivery, you can ensure that you have the right people working on the right projects and, most importantly, the cash keeps on flowing. Read on to discover how ERP software can give you the right information, in real time, to ensure better project management and margin control.

 

 

 

 

 

The Professional Services sector has seen encouraging growth over the last few years. Firms across the consulting, architecture and engineering and legal have seen their level of business and headcount increase as its fastest pace since 2007.

So how have these best in class Professional Services companies managed to grow so successfully? We look at three examples – Hill & Knowlton EMEA Agency, Elden Law Firm and RAMBØLL Consulting Engineering Firm – to see how they have leveraged project-based ERP to solve their key business challenges and increase transparency within their organisations to enable further growth.

Learn how your organisation can follow the lead of these forward-thinking companies with project-based ERP, a strategy for growth and the right behaviour for embracing change.

Find out how three Professional Services companies are using project-based ERP to solve their key business problems. Download eGuide below.

Key Performance Indicators (KPIs) will vary from business to business and industry to industry. The metrics that matter to a Manufacturing business will not necessarily matter to an Accounting practice. When determining KPIs for your business, it’s important to assess your core activity and understand what you need to measure in order to measure your business value over time.

For project-based, Professional Services firms there are certain KPI’s which are essential to measure. These KPIs will likely be the same across Architecture, Consulting, Engineering and Legal Firms.

In a study by IDC – Managing your firm for growth – Professional Services firms were asked to identify the KPIs that matter most to their business and the results clearly show the top 10 KPIs which all Professional Services firms should measure. In this blog, Deltek specifically looks at the four metrics that every CFO or Finance Director needs to know and how to measure them. Namely Revenue Growth, Days Sales Outstanding (DSO), Customer Lifetime Value and Market Share.

Read the rest of this article HERE.

If you want to find out more about KPIs for Professional Services Firms you can download our Ultimate Guide to KPIs for a Project Based Business Below.

According to a survey by CIPD, a third of businesses don’t measure their productivity. Many of those that do measure it appear in practice to be thinking about business performance more generally.

What is productivity?

Productivity is the work generated by companies and their employees with the resources they have.

It is thought that, in the UK, productivity has been at a standstill for seven years due to companies not investing in their employees and required resources.

Improve your productivity

To learn more about the 5 tips to improve your productivity and become more efficient at work, click here.

Over the coming weeks, experts from the consultancy world will be looking at how businesses can face up to the challenges of transitioning client needs in an evolving marketplace. They will be exploring the many economic challenges that companies face and sharing opinions and guides with valuable insights, designed to help companies overcome them. In this blog, Deltek looks at what the future holds for successful consultancies.

During the aftermath of the 2008 global recession, we saw many large consulting firms forced to become leaner just to survive. Consultants who suddenly found themselves out of a job, used this as an opportunity to set up their own, smaller firms, offering the same services as their former employers. How does the picture look now? The consulting services industry is thriving.

According to International Data Corporation’s (IDC) 2014 research, consultancy firm revenue is up by 41% and profit margins have grown by around a quarter between 2013-14. However, with more smaller firms in the market, competition is fierce. So how do you capitalise on this upward trend, gain the competitive advantage and grow your firm? It’s all about knowing your consultancy inside out.

Read the rest of the article HERE