Transform Client Information into Client Intelligence for BD Leaders and Executives

Deltek has a long-standing legacy of helping project-based businesses manage client relationships, deliver projects and manage overall company financials. Recently, Deltek has been looking for ways to make the project lifecycle smarter, including winning work. We are looking at purposeful innovation with technology like generative and traditional AI to automate simple tasks, summarize data and analyze content to save time, improve data accuracy and add value to your business.

Originally posted on Deltek.com. Link here: Transform Client Information into Client Intelligence for BD Leaders and Executives

By Deltek

Deltek has a long-standing legacy of helping project-based businesses manage client relationships, deliver projects and manage overall company financials. Recently, Deltek has been looking for ways to make the project lifecycle smarter, including winning work. We are looking at purposeful innovation with technology like generative and traditional AI to automate simple tasks, summarize data and analyze content to save time, improve data accuracy and add value to your business.

The Deltek team shared highlights of recent innovations with Deltek Vantagepoint to make the project lifecycle smarter, but I want to dig into the innovations that support business development leaders, executives and project managers as they pursue projects and manage client relationships.

Delivering Client Intelligence through Client Smart Summaries™

We all understand the importance of being well-prepared before client meetings. Having a thorough understanding of a client’s history, ongoing projects, and potential opportunities is crucial to fostering meaningful conversations. However, sifting through volumes of data to extract pertinent information can be time-consuming and overwhelming.

Deltek Vantagepoint now offers Client Smart Summaries™ that leverage the power of generative AI to automatically summarize client information, which helps executives, business development managers, and project managers stay well-informed about what has happened and what needs to happen to nurture client relationships and win more projects.

More details around the Client Smart Summary can be found below.

Empower teams with better client intelligence using generative AI

Continuing to Innovate Around the Client Relationship

While Client Smart Summary is a recent example of how Vantagepoint is leveraging technology to better support business development, there are several other examples of leveraging emerging technology to improve business development processes in Vantagepoint.

Oftentimes times your BD leaders and executives are not your power users. Take advantage of Deltek’s digital assistant “Hey Deltek” to help with simple tasks like creating activity reminders, adding new contacts or finding client records. The digital assistant is powered by natural language, so your teams can simply say what they need to find and the Deltek digital assistant can help.

Hey Deltek
Save time with simple tasks using Vantagepoint’s “Hey Deltek” digital assistant

Business developers live on the road and come back with stacks of business cards and notes from their countless hours meeting and networking. If your BD leaders have the Vantagepoint CRM mobile app, they can simply take a picture of a business card and add a contact directly into Vantagepoint leveraging Intelligent Character Recognition technology, saving countless hours and frustration.

Capture Business Card
Create new contacts easily by taking a picture of business cards

When it comes to managing the pipeline, BD leaders are constantly balancing the probability of winning new work. With Vantagepoint, you have greater visibility into your past project successes and your current pipeline so you can make better, more informed decisions. The visual pipeline empowers your teams to interrogate the pipeline from different views to find opportunities or threats that can impact your business in a single location, eliminating the need to aggregate multiple reports.

Pipeline
Make better, more informed decisions with visual pipelines

What You Need to Know About the Client Smart Summary

The Client Smart Summary provides an all-encompassing snapshot of a client’s status and history right at your fingertips. It includes the following sections:

  • Executive Summary: Summarizes general information about your client from the Overview tab of Firms, such as the client description, market, website, and aliases.
  • Recent Activities: Details for the last five activities for this client, including the date, attendees, subject, a summary of the notes, and associated project.
  • Current Pursuits: A review of key performance indicators (KPIs) and top five active pursuit projects by estimated fee for this client. The KPIs included are win rate (percentage of projects won by count), capture rate (percentage of projects won by estimated fee), average estimated fee, and number of active pursuit projects.
  • Active Projects: A review of KPIs and the top five active awarded projects by compensation. The KPIs in this section are current total backlog, current AR, profitability, average contract value, and number of active awarded projects.
  • Completed Projects: A review of KPIs and the top five inactive or dormant awarded projects by compensation. The KPIs include profitability, total contract value, average contract value, and number of completed projects.

To get the most out of the Client Smart Summary feature, it’s important that your team keeps Vantagepoint up to date with comprehensive client information. The more detailed data that exists in the system, the better the AI will be able to summarize and extract key details. Make sure everyone logs client interactions as activities, takes notes from meetings and calls, and enters information on potential and active projects. The Client Smart Summary works best when Vantagepoint contains rich data on the client’s history, relationship, and opportunities. Be diligent about entering what you know so the AI can prepare an accurate client briefing before your client meetings.

Deltek engineered the Client Smart Summary feature with privacy and security as top priorities. The Client Smart Summary is generated using only the information you and your team have entered into Vantagepoint. No external data sources are used whatsoever. Furthermore, your data is not included in any machine learning processes – it stays within your Vantagepoint database. This means third parties have no way to access the data used to create your Client Smart Summaries. You can trust that your proprietary information remains protected and that your data remains completely secure when using the Client Smart Summary feature.

Conclusion

The Client Smart Summary builds on the power of Vantagepoint by using generative AI to quickly provide a client briefing. With AI doing the heavy lifting, you can focus on strategizing and building relationships rather than spending precious time gathering and consuming information. Armed with a comprehensive understanding of the client’s situation, you can ask more informed questions and offer relevant insights. The Client Smart Summary transforms your client information into client intelligence, which enables you to work with your clients smarter.

Coupled with the existing innovations for business developers and project managers, your teams can focus more on building relationships and positioning your firm to win more projects.

Interested in learning more about Vantagepoint CRM?

If you aren’t currently using Vantagepoint CRM and want to see more, we invite you to join us for a Vantagepoint CRM demo.

Disclaimer: This Smart Summary is generated by an artificial intelligence tool using your Vantagepoint data exclusively. It is provided subject to the Vantagepoint Smart Summary Terms. Deltek does not independently verify the accuracy of each Smart Summary. Users are encouraged to independently review and verify the accuracy of the Smart Summary. Copyright 2023 Deltek, Inc.

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