RGCI-Deltek Costpoint 8 is Coming_ 5 Things You Need to Know

5 Things You Need to Know Before Your Update

  1. For long-time users of Costpoint you may have experienced prior upgrade processes, most recently Costpoint 6 to Costpoint 7. The upgrade to Costpoint 8 will be a lot different from the last upgrade, as the upgrade will not be changing the “front-end” of the system. User interfaces will largely remain unchanged and this upgrade will look and feel the same as Costpoint 7. Most enhancements are those that the user or administrator can elect to “turn on” and begin using.  The best place to see what’s new with CP8 is the Costpoint 8 Portal.
  2. Several of the updates our team is most excited about are:
    1. New My Menu – Fly Out Banners: This new enhancement allows companies to design custom processing steps that users can follow to complete tasks. For example, each step and screen used to process accounts payable invoices can be setup in a Fly-Out Banner and users just work through the steps / screens.
    2. New Supplier Portal: This new feature allows streamlined communication between purchasing departments and suppliers, vendors, and subcontractors.
    3. New Mobile Expense: The new mobile app has receipt capturing capabilities and an intelligent character recognition processing engine that will allow for more efficient expense report entry and processing.
  1. According to Deltek, existing Costpoint Cloud customers will receive their upgrade dates approximately 2 months before they upgrade.  The date will also appear in your Cloud Portal page 1 month before the upgrade is scheduled.   The Deltek Costpoint 8 Upgrade Team is providing a Customer Assistance Program (CAP) Webinar Series that allows customers to attend a 1 hour webinar, once a week, 5 weeks before their upgrade.  During the webinar they will learn about what’s new with Costpoint 8 from a Deltek Product Manager and be able to submit questions.  Customers can contact the Upgrade Team (GovConUpgradeTeam@deltek.com) for questions about the CAP/Upgrade or reach out to their CSM. The Redstone GCI team is also happy to be available to our clients as a resource during the process and will keep you updated on any news we receive from the Deltek team.
  2. Costpoint Foundations and Essentials Clients will see an upgrade path similar to point releases, where the upgrade will be applied across the Deltek hosted enterprise. In short, all of the customer’s systems will be upgraded at the same time.
  3. Costpoint Enterprise US-Only clients will see their test environment upgraded approximately two months prior to the planned upgrade to their production system. Enterprise customers may have some flexibility in timing, so if you have concerns with the timeline it is important to get in touch with your CSM.

Learn More About Our Deltek Costpoint Consulting & Implementation Services

Written by Redstone Team

About Redstone GCI

Redstone GCI is a consulting firm focused on fulfilling the needs of government contractors in all areas of compliance. With a singular mission to help contractors through the multiple layers of “red tape,” we allow contractors to focus on what they do best – support their mission with the U.S. Government. We are home to a group of consultants made up of GovCon industry professionals, CPAs, attorneys, and retired government audit and acquisition professionals.

Our focus and knowledge of audit and compliance functions administered by DCAA and DCMA will always be at the heart of what we do. However, for the past decade, we’ve strategically grown to support other areas of the government contractor back-office with that same level of focus and expertise. We’ve added expertise in contracts management, subcontract administration, proposal pricing, various software systems, HR and employment law, property administration, manufacturing, data analytics/reporting, Grant specialists, M&A, and many other areas. When we see a trend in the needs of contractors, we act to ensure we can provide the best expertise in the market to fulfill those needs.

One thing our clients can be certain of is that with the Redstone GCI Team in your corner, there is no problem too big and no issue too technical for our team to tackle.

Topics: Compliant Accounting Infrastructure, Proposal Cost Volume Development & Pricing, DFARS Business Systems, DCAA Audit Support, Cost Accounting Standards (CAS), Federal Acquisition Regulation (FAR)