HERNDON, Va., March 15, 2022 /PRNewswire/ -- Deltek, the leading global provider of software and solutions for project-based businesses, highlighted several key factors that contributed to its record growth in 2021, including momentum with its Deltek Costpoint solution within the government contracting industry and in particular, small businesses. In 2021, Deltek saw an influx amongst small business customers, citing a nearly 20% increase in its SMB business since 2020 – with its Costpoint solution accounting for nearly a third of all new SMB deals.
Deltek Costpoint is the industry's leading solution that delivers more innovation and greater intelligence through an all-in-one system across the project lifecycle for government contractors. It centralizes the management of projects, people and finances, and scales seamlessly as needs grow, enabling small to enterprise size businesses to win new clients, manage project profitability and improve client satisfaction at every stage. Additionally, the integrated cloud offering enables the secure storage of data and is consistently enhanced to meet the most up-to-date governmental and agency cybersecurity compliance standards.
Costpoint customers have applauded the solution on G2, a peer review platform, ranking it a High Performer for small businesses and a Leader among other ERP solutions. One SMB Costpoint user commented that Costpoint is, "the only accounting ERP that a company needs."
Deltek's latest release, Costpoint 8.1, is now available
With record growth in 2021, Deltek has been preparing to address customer needs for 2022 and beyond. Last week, Deltek's latest release of its flagship solution for government contractors was made available to all existing and new customers – Costpoint 8.1. With this release, Deltek is showcasing new capabilities in Costpoint purposefully designed to help project-based teams work better together and enabling a path to digital transformation for its customers with greater automation leveraged throughout the project delivery lifecycle.
With more small and mid-sized firms adopting Costpoint, several enhancements were purposely designed to ensure users could learn Costpoint faster than ever. Deltek worked closely with its customer community for feedback, leading to several of the key features of the Costpoint 8.1 release, including:
- Expanded capabilities with Digital Customer Relationship Management (CRM) – This expanded module gives project-based businesses a way to automate more of their pre-award activities and boost their business development team's effectiveness with time-saving capabilities. Some of those new innovations include voice commands for leads and contacts, enhanced integration with GovWin IQ, new opportunity assessments and CMMC Level tracking.
- Easier Time & Expense Tracking – Deltek has improved the mobile and desktop user experience to feature offline time entry for employees on the go, automatic overtime calculations, interactive voice time entry and enhanced receipt capture.
- Simplified Navigation of Everyday Processes – Costpoint 8.1 usability enhancements provide noticeable improvements for everyday users. Navigation Banners, for instance, will simplify daily functions for new users by guiding them through core tasks, requiring fewer clicks and reducing human error.
- Smarter Professional Services Automation (PSA) – Deltek has included a new employee requisition integration between Costpoint and Deltek Talent Management to help contractors fill resource gaps more quickly, ultimately getting people in the door, and billable faster.
- Enhanced Source to Pay & Manufacturing – New capabilities in Costpoint's Supplier Portal are designed to enhance collaboration with suppliers and help procurement and manufacturing managers proactively take action on purchase and manufacturing orders, DPAS (Defense Priorities & Allocations System) ratings, shipments and invoices – all from one centralized location.
"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," said Warren Linscott, Chief Product Officer at Deltek. "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."
For more information on Deltek or to request a Costpoint demo, visit Deltek.com.
Better software means better projects. Deltek is the leading global provider of enterprise software and information solutions for project-based businesses. More than 30,000 organizations and millions of users in over 80 countries around the world rely on Deltek for superior levels of project intelligence, management and collaboration. Our industry-focused expertise powers project success by helping firms achieve performance that maximizes productivity and revenue. Learn more at www.deltek.com.