What is Costpoint?
Industry Specialties: Serves government contracting, non-profit and professional services industries
Benefits and Insights
Key differentiators & advantages of Costpoint
- Reduce Compliance Costs: Costpoint knows compliance is key for anything related to government work. It can reduce costs associated with DFARS, CAS, SOX, MMAS, ASC 606 and FAR compliances. Lowering costs associated with these compliances can help with passing DCMA and DCAA audits.
- Valuable Project and Portfolio Intelligence: Deltek’s Costpoint suite gives users clear visibility and helpful insights to keep projects efficient while gleaning actionable insights for future processes.
- HR Process Automation: Automating tedious and time-consuming processes like open enrollment let users focus on more critical tasks. It also includes compliance reports to ensure that you and your teams are within the proper parameters to function successfully.
- Audit Preparedness: Cospoint’s software suite makes compliance with DCAA regulations a top priority. It also keeps users within SOX and DFARS guidelines while being compliant with GovCon right out of the box. It also includes sample reports and support for Wide Area Workflows.
- Improve Financial Management: Users can leverage Costpoint’s automation features to streamline cumbersome financial processes. It also gives users updated financial information to enhance forecasting.
- Project Management: The included project management features provide robust resource management capabilities. Users can budget and source their resources while ensuring that they are being properly distributed and used. It also automates a number of these processes to let users focus on more important tasks.
- Procurement Features: Costpoint Procurement has customizable approval workflows to get purchase requisitions pushed through quickly. Cut down on double entry by automating purchase order generation after approval. Supplier portals boost collaboration and open up communication channels for more effective partnerships.
- Manufacturing Support: Costpoint supports manufacturing businesses with modules that manage quality, maintain compliance, and quickly adapt to engineering changes. It also provides inventory management features paired with barcode scanners. Contractors can also benefit from the extensive accounting solutions offered by the system.
- Time and Expense Management: This system gives users multiple avenues to manage employee time, including time entry, leave requests and timesheet approvals. It also provides labor cost, project timeline and expense visibility to give project managers a clear view understanding of how things are progressing.
- Analytics and Intelligence: Costpoint’s business intelligence features put vital data and reports directly into the hands of decision makers to keep the business moving forward. Built-in dashboards, embedded reports, ad-hoc reporting and robust analytics shine a light on the success or failure of daily processes.
- Accounting: The included accounting features ensure that all transactional data is directly tied to the project. It contains features that support labor utilization, invoices for milestones, revenue forecasts, accounts receivable aging and numerous compliance inclusions. Users can leverage project status reports to see how costs measure up to the agreed-upon budget.
- Contracts: Costpoint leverages automation and a holistic approach to contract management and integrates all critical information into a single source. Users can track proposal costs and bids, rate vendor performance, manage RFPs and more. It also manages subcontracts and can automatically generate projects from opportunity records and contracts.
Costpoint Suite Support
Average customer reviews & user sentiment summary:
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