Deltek
Encyclopedia
Deltek, Inc. is a software company that specializes in accounting and related software programs to be used by government contractors and similar businesses.
From the beginning, Deltek's niche in the software industry is its focus on developing software for use by companies that are project focused, such as government contractors (who must, under U.S. government procurement law, track costs by individual contract, and in some cases by task order or line item – the company has from inception been located in the Washington DC area, the location of many such companies). Later, Deltek expanded its marketing focus towards Architect/Engineer and consulting firms (who also must be able to account for costs by project).
In 1984, Deltek delivered its first system, originally named Deltek Government Contracting System, but later renamed Deltek System1, and now known as Deltek GCS Premier.
In 1993, Deltek began developing its next generation of project accounting solutions, which eventually led to the development of Costpoint
in 1994, which at the time was a contemporary 4GL client/server project focused ERP. Costpoint allowed Deltek to expand its vertical footprint and eventually became its flagship product.
Deltek began trading publicly in 1997, bought several other companies and products afterward, and was taken private in 2002. In 2005, the company was recapitalized by an organization called the New Mountain Capital
, based in New York, NY. It went public again in November 2007.
In 2010, Deltek acquired European competitor Maconomy and government market analysis company INPUT Inc. On April 1, 2011, Deltek acquired another government market analysis company, FedSources, Inc. In addition, Deltek acquired FedSources Consulting and parent company Washington Management Group (WMG).
In addition to the main products listed above, Deltek also offers specialized products:
Over its history, Deltek has purchased other companies and acquired software packages such as Advantage, Sema4, FMS (Financial Management Software) and Award. However, Deltek is slowly disbanding support for these legacy packages, encouraging the owners to migrate into its core products.
History
The company was founded as Deltek Systems, Inc. by Donald deLaski and his son Kenneth in 1983.From the beginning, Deltek's niche in the software industry is its focus on developing software for use by companies that are project focused, such as government contractors (who must, under U.S. government procurement law, track costs by individual contract, and in some cases by task order or line item – the company has from inception been located in the Washington DC area, the location of many such companies). Later, Deltek expanded its marketing focus towards Architect/Engineer and consulting firms (who also must be able to account for costs by project).
In 1984, Deltek delivered its first system, originally named Deltek Government Contracting System, but later renamed Deltek System1, and now known as Deltek GCS Premier.
In 1993, Deltek began developing its next generation of project accounting solutions, which eventually led to the development of Costpoint
Costpoint
Deltek Costpoint is a project accounting software package sold by Deltek. Costpoint is the "high-end" of the three main project accounting software packages sold by the company....
in 1994, which at the time was a contemporary 4GL client/server project focused ERP. Costpoint allowed Deltek to expand its vertical footprint and eventually became its flagship product.
Deltek began trading publicly in 1997, bought several other companies and products afterward, and was taken private in 2002. In 2005, the company was recapitalized by an organization called the New Mountain Capital
New Mountain Capital
New Mountain Capital is a firm dealing in private equity and growth capital investments across acyclical growth industries. The firm emphasizes growth and business building, rather than high risk or debt leverage, in its investments...
, based in New York, NY. It went public again in November 2007.
In 2010, Deltek acquired European competitor Maconomy and government market analysis company INPUT Inc. On April 1, 2011, Deltek acquired another government market analysis company, FedSources, Inc. In addition, Deltek acquired FedSources Consulting and parent company Washington Management Group (WMG).
Product Lines
Deltek offers three main accounting software products:- Deltek CostpointCostpointDeltek Costpoint is a project accounting software package sold by Deltek. Costpoint is the "high-end" of the three main project accounting software packages sold by the company....
– The company's flagship product, Costpoint is an Enterprise Resource PlanningEnterprise resource planningEnterprise resource planning systems integrate internal and external management information across an entire organization, embracing finance/accounting, manufacturing, sales and service, customer relationship management, etc. ERP systems automate this activity with an integrated software application...
software package which, like competitors SAPSAP AGSAP AG is a German software corporation that makes enterprise software to manage business operations and customer relations. Headquartered in Walldorf, Baden-Württemberg, with regional offices around the world, SAP is the market leader in enterprise application software...
and OracleOracle CorporationOracle Corporation is an American multinational computer technology corporation that specializes in developing and marketing hardware systems and enterprise software products – particularly database management systems...
, has been specifically designed for use by project-oriented businesses. These include larger government contractors who must follow the U.S. Government's cost reporting rules under the Federal Acquisition Regulation and Cost Accounting StandardsCost Accounting StandardsCost Accounting Standards are a set of 19 standards and rules promulgated by the United States Government for use in determining costs on negotiated procurements...
. - Deltek GCS Premier – GCS (Government Contractors Software) Premier is an accounting software package targeted at small to mid-size government contractors.
- Deltek Vision – Vision is designed to meet the needs of small to medium sized professional service firms (Architects, Engineers, Consultants) that require a single solution to support Customer Relationship ManagementCustomer relationship managementCustomer relationship management is a widely implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing,...
(to develop business opportunities), Payroll, Resource and Project management.
In addition to the main products listed above, Deltek also offers specialized products:
- Cobra (Cost and Earned Value Management to meet the needs of enterprise EVMS systems including ANSI 748)
- Open Plan (Schedule, Risk and Resource management)
- wInsight (Earned Value Analytics and Dashboards)
- WelcomRisk (Qualitative Risk Management)
- WelcomPortfolio (Project Selection and Metric Analysis)
- Risk+ (an add-on to MS Project for Quantative Risk Analysis)
- Deltek Time and Expense with Employee Self Service – a complete timekeeping and expense reporting system which can be used either in conjunction with Deltek's accounting software or as a stand-alone module
- Deltek Performance Management (DPM). Business Intelligence solutions.
- MPM (Cost and Earned Value Management to meet the needs of EVMS systems for single projects)
- Deltek GovWin, a leading business development solution built especially for the unique needs of business development professionals in government contracting firms.
- Deltek Sales Order Entry, designed to meet the needs of government contractors who sell on GSAGeneral Services AdministrationThe General Services Administration is an independent agency of the United States government, established in 1949 to help manage and support the basic functioning of federal agencies. The GSA supplies products and communications for U.S...
Schedules
Over its history, Deltek has purchased other companies and acquired software packages such as Advantage, Sema4, FMS (Financial Management Software) and Award. However, Deltek is slowly disbanding support for these legacy packages, encouraging the owners to migrate into its core products.