If you work at a project-based company, chances are you’ve heard of Deltek Vantagepoint. It’s a popular software solution designed specifically for project-based businesses, helping them manage their projects, resources, financials, and more.

But what exactly is Deltek Vantagepoint and why is it so widely used?

In this blog, we’ll talk about its key features, which industries it is tailored to, its advantages, and why it might be the right choice for your business. So let’s get into it and learn more about Deltek Vantagepoint

What is Deltek Vantagepoint?

Deltek Vantagepoint is a project management and financial management software solution designed specifically for project-based firms. It has a set of features to help businesses manage their projects, clients, and finances. It was specifically designed to help organizations manage their projects more effectively, from initial stages to final delivery, helping execute successful projects every time.

History of Deltek Vantagepoint

Deltek, Inc., founded in 1983, has been a significant player in the enterprise software market, providing tools for project and financial management. Their flagship product, Deltek Vision, was widely adopted by professional services firms for its robust capabilities.

As technology advanced and business needs evolved, Deltek recognized the need to innovate further. This led to the development of Deltek Vantagepoint, a next-generation solution designed to address modern challenges faced by project-based businesses.

The development of Vantagepoint was driven by extensive user feedback and market research. Deltek aimed to create a tool that not only met the current needs of its users but also anticipated future trends in project management and financial oversight. The result was a platform that integrates various aspects of project-based operations, providing users with a holistic view of their business performance.

Who is Deltek Vantagepoint for?

Deltek Vantagepoint was made specifically for project-based businesses. Within these organizations, it is used by project managers, finance teams, executives, and other key stakeholders. It caters to specific industries, including architecture, consulting, and construction firms. Let’s take a moment to look into why Deltek Vantagepoint fits these industries specifically:

Architectural and Engineering Firms

Architectural and engineering firms often juggle multiple projects with intricate timelines, budgets, and requirements. Deltek Vantagepoint helps these firms manage project costs with precision, making sure that every expense is tracked and allocated correctly.

With features like detailed project financials and advanced billing capabilities, firms can generate accurate invoices, which is important for maintaining profitability and client trust. The ability to forecast project costs and manage resources better helps these firms stay on schedule and deliver successful projects consistently.

Consulting Firms

For consulting firms, managing project financials and boosting productivity are of the utmost importance. Deltek Vantagepoint provides tools to handle project budgets, track time and expenses, and make sure that every project is profitable.

The business development features help consultants focus on the right projects, improving their pursuit strategies and ensuring a steady flow of work. Additionally, the software’s pipeline management capabilities allow consulting firms to keep an eye on potential projects and make informed decisions about resource allocation. This makes it so that consultants can maximize their billable hours and deliver high-quality services to their clients.

Construction Firms

Construction firms face unique challenges, including managing large teams, coordinating with multiple stakeholders, and adhering to strict deadlines and budgets. Vantagepoint’s project management features are designed to handle these complexities, with tools for scheduling, overhead allocation, and cost tracking.

The financial management capabilities of this software make it so that construction projects remain profitable and within budget, while the business development features help firms secure new contracts and grow their pipeline.

As you can see, Deltek Vantagepoint is ideal for project-based businesses, as well as large enterprises with multiple projects and teams. Now we’ll talk about some of the features that make this software stand out.

What are Some Features of Deltek Vantagepoint?

Deltek Vantagepoint offers a wide range of features designed to make project management and financial management more efficient. Here are 12 of the standout features that set this software apart:

1. Track KPIs: Deltek Vantagepoint allows you to track key performance indicators (KPIs) to see where adjustments are needed to improve efficiency and increase profitability. This feature provides a clear view of your project’s health and helps you make informed decisions to enhance performance.
2. Interactive Dashboards: Create meaningful, interactive dashboards for each user to track progress toward operational and growth goals. These dashboards are customizable, providing each team member with the information they need at a glance, which boosts productivity and makes sure everyone is aligned with the business objectives.
3. Advanced Reporting: Use the reporting feature to take a deeper dive into potential challenges before it’s too late. The reporting tools in Vantagepoint are robust, allowing you to analyze data from various angles and identify issues early, ensuring you can address them proactively.
4. Simplified Time and Expense Entry: Tired of spending hours tracking your time and expenses? Vantagepoint simplifies this process with an easy-to-use interface, minimizing manual data entry and reducing the chances of human error. This saves you valuable time and resources that can be better spent on other critical tasks.
5. Automated Financial Processes: Automation is a major trend in the business world, and Vantagepoint is no exception. With its automated financial processes, you can eliminate manual tasks such as invoice creation and payment processing. This not only speeds up the process but also reduces the risk of errors, ensuring accurate and timely financial reporting.
6. Accelerated Month-End Close: Vantagepoint helps you close your books faster and with greater accuracy, improving your financial oversight and performance. With its integrated financial management system, you can easily access real-time data and generate accurate reports for a more efficient month-end close.
7. Comprehensive Project Management: Manage the entire project lifecycle in one place, from inception to completion. Any project manager knows the challenges of keeping track of multiple tasks, deadlines, and stakeholders. Vantagepoint streamlines this process by providing project management tools that allow you to easily assign tasks, set deadlines, and track progress in real time.
8. Proactive Schedule Management: Create and proactively manage schedules, costs, and resources to keep projects on track. With Vantagepoint, you can easily create project schedules and make adjustments in real-time as needed. This allows for better resource management and helps prevent costly delays.
9. Real-Time Metrics: View project-specific metrics and KPIs at any time, while predicting future project success. Real-time data provides insights into your projects’ current status and future outlook, helping you stay ahead of potential issues.
10. Effective Resource Planning: With Vantagepoint, you can easily assign tasks to team members and track their progress in real-time. This makes it so that resources are allocated effectively and helps teams stay on top of their workload.
11. Accurate Resource Forecasting: Create accurate resource forecasts and reports to stay ahead of potential issues. By forecasting resource needs accurately, you can avoid bottlenecks and ensure that you have the right resources available when needed.
12. Pipeline Management: Vantagepoint allows you to easily manage your project pipeline, from initial planning to final delivery. This helps you stay organized and on top of all your projects, ensuring that nothing falls through the cracks.

These are just some of the features that make Vantagepoint a popular choice for project management. However, Deltek Vantagepoint offers so much more than just these features. If you are interested in learning more about how Vantagepoint can help your project management process, consider signing up for a free demo today.

What are Deltek Vantagepoint Modules?

One of the great things that Deltek Vantagepoint offers is a range of modules designed to meet the diverse needs of project-based businesses. Here’s a brief overview of the key modules included in the software:

Accounting & Financial Management: This module helps businesses manage their financial operations with ease, offering tools for tracking project costs, managing budgets, and handling billing and invoicing. It ensures accurate financial reporting and streamlines processes like month-end close, making it easier to keep a close eye on company financials.

CRM & Pipeline Management: The Vantagepoint CRM module is designed to help businesses manage client relationships and develop better pursuit strategies. It includes tools for tracking client interactions, managing the sales pipeline, and forecasting future projects, ensuring a steady flow of work and stronger client connections.

Project Management: This module covers the entire project lifecycle, from planning and execution to completion. It allows project managers to create schedules, assign tasks, monitor progress, and keep projects on track, ensuring that all deliverables are met on time and within budget.

Resource Management: Resource management tools in Vantagepoint help businesses allocate resources effectively, balance workloads, and adjust to changing project demands. This module is essential for optimizing team productivity and ensuring that the right resources are available when needed.

Reporting & Business Intelligence: The reporting and business intelligence module provides advanced analytics and customizable reports, allowing businesses to gain deeper insights into their operations. It enables users to track key performance indicators (KPIs), identify potential challenges early, and make data-driven decisions to enhance overall business performance.

As you can see, whether you’re focusing on financials, client relationships, or resource allocation, Vantagepoint offers the tools needed to succeed.

What are People Saying about Deltek Vantagepoint?

One of the best ways to learn about a specific software is to hear from real users. Here are some reviews from current Vantagepoint users:

“Vantagepoint is a powerful tool that allows us to present information in real time to all the company stakeholders using dashboards and reports. We are able to ask for enhancements and a status is given quickly on requested enhancements. I would recommend to others.” Annette M., Chief Financial Officer

“After over 15 years on Ajera, we made the decision to move to Vantagepoint. We had the Vantagepoint CRM product and Talent Manager. We are about to bring over our first batch of test data and even now (before we have this) we can already tell that Vantagepoint is going to greatly improve our project management and accounting.” – Lisa F., Director of Finance

“I find that Deltek product managers have a very keen sense of product user challenges and industry standards. The way new features are presented are evidence of how much value they place on user feedback and what care is taken in providing the most user-friendly experience.”- Niki G., Associate, Project Finance Manager

As you can see, people appreciate the comprehensive nature of Vantagepoint. The integration of various tools into a single platform makes it so that nothing slips through the cracks. For a more detailed comparison between Deltek Vision and Vantagepoint, you can check out our blog on Deltek Vision vs Vantagepoint.

Final Takeaway on Deltek Vantagepoint

With its intuitive interface, features, and focus on user feedback, it’s no wonder that Deltek Vantagepoint is becoming the go-to project management tool for many finance directors. By making processes easier and providing real-time insights, Vantagepoint allows businesses to make informed decisions and stay ahead of the competition.

So why wait? Sign up for a demo today and experience the power of Deltek Vantagepoint for yourself! Contact BCS ProSoft, your trusted Deltek partner, for any questions or assistance in implementing Vantagepoint into your business processes. Together, we can help you achieve success with the best project management solution on the market.

Key Points

• Overview: Deltek Vantagepoint is a comprehensive project management and financial management software designed for project-based firms, evolved from Deltek Vision to address modern business challenges.
• Target Industries: It is ideal for architectural and engineering firms, consulting firms, and construction firms, helping them manage project costs, financials, and resources effectively.
• Key Features: Includes tracking KPIs, interactive dashboards, advanced reporting, simplified time and expense entry, automated financial processes, and comprehensive project lifecycle management.
• Benefits: Enhances business development and project intelligence, improves resource planning and allocation, accelerates month-end close, and provides real-time metrics for better decision-making.
• User Feedback: Users appreciate its intuitive interface, real-time data access, and the ability to integrate various tools, making it a preferred choice for efficient project management.

Frequently Asked Question