Deltek, the Herndon, Virginia-based software company, has released a new version of its popular government contract lifecycle program Costpoint in response to customer feedback.
On Tuesday, the company outlined the contributing factors to its growth in 2021, including a surge in sales among small business clients and a widespread embrace of the aforementioned program.
“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, Deltek chief product officer.
The software producer said 2021 brought an almost 20 percent increase in transactions from small and medium businesses, among which Costpoint deals alone made up almost a third.
The program is an enterprise resource planning program that helps users execute government contract projects of any size from inception to completion. Costpoint attempts to maximize profitability as well as ensures security and privacy for sensitive materials in adherence to regulations and compliance requirements.
Deltek received positive feedback from Costpoint users on peer review platforms. The latest 8.1 version of the platform has been crafted with customers’ needs in mind. It includes pre-contract award automation of certain services, a more time-sensitive interface for various functions and a simplified layout.
The new edition also features a linkage to another program, Deltek Talent Management and an ability to enable those responsible for procurement and manufacturing to complete their tasks from a single output.
“As we grow and evolve our business, we are continuing to invest in purposeful innovation to support government contractors’ need for speed, agility and competitive differentiation initiatives,” Linscott added.
Based on collected surveys of 60,000 employees from a range of companies, Deltek was recently named one of Forbes’ America’s Best Employers in 2022.