October 2, 2023 0 Comments Business

Deltek: Fast-Tracking Project Management and Helping You Get More Government Tenders

Deltek is a software and solutions company founded in 1983 and headquartered in Herndon, Virginia. The company’s key offerings include products for project management, accounting, resource planning, time tracking, project collaboration, and other functions. Some of Deltek’s major products are Deltek Costpoint, Deltek Vantagepoint, Deltek Time & Expense, and Deltek Vision.

Deltek went public in 2005 when it was acquired by private equity firms New Mountain Capital and Warburg Pincus. It was later taken private again in 2012 when acquired by Thoma Bravo. Roper Technologies acquired the company in 2016. In recent years, Deltek has expanded its offerings through acquisitions, such as its 2020 acquisition of HR software provider iConcept. The company’s major competitors include Oracle, SAP, Microsoft, and Planview. However, Deltek is known for specializing more narrowly in project-oriented businesses compared to these large enterprise software companies. Overall, Deltek has established itself as a leading provider of software and solutions tailored for project-based firms.

Why Do Government Contractors Need an ERP?

Government contractors face unique challenges that make an enterprise resource planning (ERP) system essential. Contracting with the government requires navigating complex compliance requirements and regulations. An ERP provides the framework to manage these regulatory demands efficiently.

For example, an ERP can automate processes for meeting cybersecurity protocols, handling unclassified information, and maintaining rigorous documentation standards. The right ERP also brings financial oversight with robust accounting tools to track costs and provide auditability across programs. This supports the accountability and transparency required when using taxpayer dollars.

Additionally, the systems integration capabilities of an ERP are critical for contractors working across multiple projects with intricate reporting needs. By consolidating information flows across departments, an ERP enhances visibility into operations. With the scale and intricacies of government contracting, ERPs give contractors the agility, compliance, and insights needed to fulfill their vital responsibilities.

Deltek Costpoint

Deltek Costpoint is another critical application tailored specifically for the complex needs of project-oriented businesses, especially government contractors. This robust accounting and ERP software unifies project accounting, financials, supply chain management, human resources, payroll, compliance, and business intelligence in a single cloud-based platform. The deep project accounting capabilities and specialized functionality make Costpoint a must-have solution. Click here to learn more about Deltek Costpoint ERP solution

Deltek PM Compass

Deltek PM Compass is a project management software designed for professional services firms and government contractors. It provides tools to help manage the full project lifecycle from pursuit through delivery and invoicing. Key features include project planning and scheduling, resource management, time and expense tracking, project costing and budgeting, and project financials.

Deltek’s GovWin IQ

Deltek’s GovWin IQ is a software platform designed to help companies identify, track, and win government contracts. It provides a comprehensive database of federal, state, and local government contracting opportunities in the United States. GovWin IQ allows users to search for active solicitations by agency, location, NAICS code, and other criteria. It also includes proprietary data on historical contract awards and incumbents.

GovWin IQ offers tools to analyze competition, create accurate win themes, and build pipelines focused on relevant opportunities. It can track bidding history and contract details like ceilings, obligations, expirations, and more. The platform aims to save time researching opportunities and enhancing capture management. With its data-driven insights, GovWin IQ strives to improve customers’ win rates on government contracts.

Deltek also understands the value of business intelligence in accelerating organizational success. Decision-makers gain access to real-time performance dashboards that consolidate data from across Deltek solutions. Self-service reporting allows users to create and customize reports to meet their specific needs without IT help. Robust analytics capabilities enable project portfolio analysis, study past performance, identify trends and opportunities, model scenarios, and predict future outcomes. By monitoring the right KPIs, executives can measure strategic goal progress and adjust course as required.