Deltek gave attendees a deep dive on its purposeful AI-fueled innovation to help power its customers' project success
HERNDON, Va., Oct. 20, 2023 /PRNewswire/ -- Deltek, the leading global provider of software and solutions for project-based businesses, unveiled its latest product innovations to a live audience at Deltek ProjectCon. Deltek wrapped up its annual customer conference with resounding success, held October 16-18 in Orlando, Florida. Deltek gathered over 3,400 customers, product experts, employees, sponsors, partners and analysts for the 3-day event.
Taking center stage, Deltek executives and product experts presented attendees with a deeper look into Deltek's capabilities and the benefit of adding elements of Generative Artificial Intelligence (GenAI) to its solutions to fuel purposeful capabilities. These advancements are part of Deltek's ongoing commitment to deliver solutions that connect and automate the project lifecycle for customers.
Warren Linscott, Deltek's Chief Product Officer, and Dinakar Hituvalli, Deltek's Chief Technology Officer, shared that over the past 18 months, as GenAI technology has evolved, Deltek has been exploring its capabilities to generate content, inform decisions, and automate action. The company's focus remains on developing smarter project lifecycle imperatives and enabling project-based businesses to be more informed, productive, and profitable.
Deltek is evolving its solutions to leverage GenAI to:
- Organize high volumes of data and distill it into concise insights in the form of executive summaries.
- Introduce predictive capabilities into everyday processes including predicting resource needs for faster project staffing and hiring.
- Leverage a Deltek Digital Assistant to help users explore information, perform tasks, and educate themselves through natural language interactions.
Announcements at Deltek ProjectCon
At the event, Deltek showcased some of the GenAI features that have been released or are coming soon to its solutions, such as:
- GovWin IQ Smart Summaries: GovWin IQ has over 1,100 Federal Agency profiles and 100,000+ SLED Government Profiles that contain a rich set of data about spending, contractors, and other characteristics. Smart Summaries leverage GenAI to create an executive summary of these profiles in real-time saving hours versus creating this information manually. This feature is currently available in GovWin IQ.
- Vantagepoint Client Summaries: Client Smart Summary leverages GenAI to provide an all-encompassing snapshot of a client's status and history right at their fingertips. It includes an executive 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 Forecasting: Many organizations have the challenge of predicting what resources they will need for which project and when based on opportunities that may close and current work. Predictive Labor Forecasting will predict the anticipated needs of the workforce and help to automate planning tasks. This feature is currently planned for release in 2024.
- PM Compass Narrative Smart Score: PPM's first GenAI powered feature, the PM Compass Narrative Smart Score, will help assess the quality and completeness of variance narratives before submission for review. Variance reporting is time consuming and challenging for contractors that must comply with EVM. The PM Compass Narrative Smart Score will dramatically improve the quality of variation narratives. This feature is currently planned for release in 2024.
- Talent Management: Talent Management's GenAI for Job Requisitions will assist in the creation of a job requisition when one does not yet exist and provide updated suggestions to existing requisitions to reflect current job market trends. This enhancement will help to streamline recruitment tasks and make recruiter actions more efficient. This feature is currently planned for release in 2024.
- Deltek Digital Assistant for Costpoint and Vantagepoint: Deltek introduced Hey Deltek several years ago using NLP (Natural Language Processing). Hey Deltek is evolving to our new GenAI Deltek Digital Assistant - a single user facing solution that will be able to answer "how to" questions about product usage and about data entities like contracts or projects and carry out simple tasks like sending an email to a project manager with overdue tasks.
"Generative AI is a powerful tool that will revolutionize how project-based businesses operate. By harnessing the capabilities of artificial intelligence, we aim to empower our customers with smarter, more data-driven insights and decision-making tools. We are committed to purposeful innovation and incorporating emerging technology for our customers and we're continuously evaluating those 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.
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 leading global provider of enterprise software and information solutions for project-based businesses. More than 30,000 organizations and millions of users in over 80 countries around the world rely on Deltek for superior levels of project intelligence, management, and collaboration. Our industry-focused expertise powers project success by helping firms achieve performance that maximizes productivity and revenue. www.deltek.com
Deltek Contact
Media Relations Team
press@deltek.com
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