Transforming Financial Management for Project-Based Businesses

By: Alex Volpi

At Wiss, we understand the unique challenges faced by project-based businesses such as architecture, engineering and professional services organizations. To address these challenges, we identified Deltek as a leading software and solutions provider with a powerful, integrated end-to-end platform. By implementing Deltek, we have significantly enhanced our comprehensive financial management for project-based businesses capabilities, which in turn has benefitted a significant number of our clients.

Enhanced Financial Reporting

Through our expertise, Deltek’s financial management for project-based businesses capabilities allow us to facilitate enhanced financial reporting for our clients. With real-time data and customizable dashboards, we help businesses generate accurate and timely financial reports that provide deep insights into their operations. This crucial ability to make informed decisions quickly based on the most current data available is vital in today’s fast-paced business environment. Utilizing Deltek’s flexibility, our approach ensures reporting meets specific clients’ needs, serves stakeholders with relevant and actionable information, effectively tracks performance, manages budgets, and forecasts financial outcomes confidently.

Improved Cost Management

In deploying Deltek, we offer robust tools that help our clients control and optimize expenditures, thus excelling in cost management. We provide greater cost efficiency through detailed tracking and analysis of project expenses, labor, and overheads. With Deltek applications, we align resources precisely with project needs, reduce waste, and enhance project profitability. We also offer proactive alerts on budget overruns and potential cost savings, ensuring financial resources are used optimally. Under our guidance, clients have significantly reduced unnecessary expenditures while reallocating resources to high-impact areas, boosting their bottom line and creating a more seamless user experience for their employees.

Optimized Decision-Making

Implementing Deltek products has empowered clients with optimized decision-making capabilities. We provide a comprehensive, integrated view of their organization’s financial health, enabling executives and management teams to make strategic decisions based on reliable data. The system’s real-time analytics and scenario planning capabilities, which we maximize, allow evaluation of various business strategies and their financial consequences. This empowers leaders to act quickly and adapt to changing market conditions, ensuring precision-driven and insightful decisions and propelling businesses toward continuous growth and innovation. This insights not only help leadership teams be productive, but allow project teams to be proactive in project delivery so they can stay on budget and on time with what they plan on delivering to their clients.

Real-World Example of Financial Management for Project-Based Businesses

With our expertise and Deltek’s solutions, several clients have experienced transformative results. For instance, we assisted a biopharma technology and analytics company in significantly enhancing its project profitability using Deltek’s powerful analytics and cost management tools. By gaining granular visibility into project costs, pipeline, employee utilization, and resource allocations, they identified inefficiencies and made strategic adjustments that yielded immediate financial improvements and service delivery to their clients.

Client Testimonial

“Our company was unable to effectively leverage our data with the limited reporting capabilities in Deltek Vantagepoint. With the help of the Wiss Advisory Team, we were finally able to bring the data fields we needed together into clear and concise metrics. The custom Power BI dashboards and Deltek reports they developed for us have made it so much easier to track our progress and make informed decisions.”

-Senior Vice President Operations

Wiss’s Implementation of Deltek Vantagepoint

At Wiss, our transition to Deltek Vantagepoint for financial management was a seamless and strategic move that mirrored the success we help our clients achieve. Recognizing the need for a system that could unify our complex project management and financial processes, we chose Deltek Vantagepoint due to its robust features and real-time analytical capabilities. Its intuitive interface allowed for an easy transition, minimizing disruption and maximizing efficiency. By integrating this sophisticated platform, we streamlined our internal financial operations and enhanced our project tracking capabilities. With Vantagepoint, we gained unparalleled visibility into our resource allocation, leading to improved project profitability and a stronger alignment with our strategic goals. This transformative implementation fortified our financial practices, enabling us to operate with greater agility and foresight, ultimately delivering superior value to our clients through informed and strategic advisement.

Conclusion of Financial Management for Project-Based Businesses

In our view, Deltek’s comprehensive suite of financial management for project-based businesses solutions has empowered project-based businesses to refine financial reporting, cost management, and strategic decision-making. Organizations partnered with Wiss gain significant competitive advantages with Deltek’s full potential, harnessed through expert guidance as our teams include certified product experts. As financial landscapes continue to change, those leveraging advanced technologies like Deltek, with Wiss’s strategic support, can anticipate challenges, seize opportunities, and pave the way for future growth and innovation. We remain at the forefront of industries, equipped to meet demands confidently and proficiently.

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