Deltek gave attendees an in-depth look at its targeted AI-powered innovation to help drive customer project success.
HERNDON, Virginia., October 21, 2023 /PRNewswire/ — Participatethe leading global provider of software and solutions for project-based businesses, has unveiled its latest product innovations to a live audience at Attend ProjectCon. Deltek concluded its annual customer conference with resounding success, held October 16-18 In Orlando Florida. Deltek brought together more than 3,400 customers, product experts, employees, sponsors, partners and analysts for this 3-day event.
Taking center stage, Deltek executives and product experts gave attendees a deeper look at Deltek’s capabilities and the benefits of adding Generative artificial intelligence (GenAI) to its solutions to power useful capabilities. These advancements are part of Deltek’s continued commitment to providing solutions that connect and automate the project lifecycle for customers.
Warren LincottDeltek Product DirectorAnd Dinakar HituvalliCTO of Deltek, said that over the past 18 months, as GenAI technology has evolved, Deltek has explored its capabilities to generate content, inform decisions and automate actions. The company’s goal remains to develop smarter project lifecycle imperatives and enable project-based businesses to be more informed, productive and profitable.
Deltek is evolving its solutions to leverage GenAI to:
- Organize large volumes of data and distill it into concise information in the form of summaries.
- Introduce predictive capabilities into daily processes, including forecasting resource requirements to accelerate project staffing and recruitment.
- Leverage a Deltek digital assistant to help users explore information, complete tasks, and educate themselves through natural language interactions.
Announcements at Deltek ProjectCon
At the event, Deltek demonstrated some of the GenAI features that have been released or will soon be integrated into its solutions, such as:
- GovWin IQ Smart Summaries: GovWin IQ has more than 1,100 federal agency profiles and more than 100,000 government SLED profiles that contain a rich data set on spending, contractors, and other characteristics. Smart Summaries leverage GenAI to create a summary of these profiles in real-time, saving hours rather than creating this information manually. This feature is currently available in GovWin IQ.
- Vantagepoint Customer Summaries: Client Smart Summary leverages GenAI to provide a complete snapshot of a client’s status and history, right at your fingertips. It includes a summary with general information about a client. This feature has been released in the latest version of Vantagepoint for licensed Vantagepoint CRM customers.
- Costpoint Predictive Labor Forecast: Many organizations have the challenge of predicting what resources they will need for which project and when, based on opportunities that may close and work in progress. Predictive workforce forecasting will predict anticipated workforce needs and help automate scheduling tasks. This feature is currently planned for 2024.
- PM Compass Narrative Smart Score: PPM’s first GenAI-based feature, the PM Compass Narrative Smart Score, will help assess the quality and completeness of variance narratives before submitting them for review. Discrepancy reporting is time-consuming and a challenge for contractors who need to comply with the EVM. The PM Compass Narrative Smart Score will significantly improve the quality of variation narratives. This feature is currently planned for 2024.
- Talent management: Talent Management’s GenAI for Job Requisitions will assist in the creation of a job requisition where one does not yet exist and provide updated suggestions to existing requisitions to reflect current job market trends. This improvement will help streamline recruiting tasks and make recruiters’ actions more efficient. This feature is currently planned for 2024.
- Deltek Digital Assistant for Costpoint and Vantagepoint: Deltek presented Hi Deltek several years ago using NLP (Natural Language Processing). Hi Deltek evolves into our new GenAI Deltek digital assistant – a single-user solution that will be able to answer “how to” questions about product usage and data entities such as contracts or projects and perform simple tasks like sending an email to a project manager with overdue tasks.
“Generative AI is a powerful tool that will revolutionize the way project-based businesses operate. By leveraging the capabilities of artificial intelligence, we aim to empower our customers with smarter, more data-driven insights and decision-making tools. innovation and integration of emerging technologies for our customers and we continually evaluate these trends to make our products easier to use and add features and functionality that help our customers achieve greater business efficiency and productivity,” said Linscott said.
To learn more about Deltek’s GenAI capabilities and other product information, visit Deltek.com.
About Deltek
Better software means better projects. Deltek is the world’s leading provider of enterprise software and information solutions for project-based businesses. More than 30,000 organizations and millions of users in more than 80 countries around the world trust Deltek for superior levels of project intelligence, management and collaboration. Our industry-focused expertise drives project success by helping businesses achieve performance that maximizes productivity and revenue. www.deltek.com
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