The Howdy Glossary

Deltek Costpoint is an enterprise resource planning software that specializes in project accounting and management, integrating functions like financial management, compliance, time tracking, billing, budgeting, purchasing, and reporting into a centralized system. It captures detailed cost data to facilitate precise job costing and allows users to manage complex projects with multiple funding sources while maintaining audit trails to monitor changes. Developed by Deltek—a company known for its focus on project-based businesses—the software addresses the unique needs of organizations involved in government contracting and other project-centric work.

Deltek Costpoint offers several features that distinguish it as an ERP solution tailored for project accounting and management. Notable features include real-time visibility into project performance, compliance support for government contracts, detailed cost tracking for accurate job costing, integrated functions such as accounting and time tracking, robust reporting capabilities, and audit trails ensuring transparency. These elements combine to streamline processes within a single platform while facilitating effective management of complex projects with multiple funding sources. This specialization makes it particularly valuable for organizations operating in environments with stringent regulatory requirements.

Despite facing competition from other ERP providers like Oracle Primavera, SAP ERP, Microsoft Dynamics 365 Project Operations, and Epicor ERP—each offering similar functionalities—Deltek Costpoint stands out through its specialized focus on the needs of government contracting and project-based businesses. Its comprehensive feature set provides tailored solutions including detailed cost tracking for precise job costing; compliance support; integrated functions encompassing accounting, billing budgeting; purchasing; real-time performance visibility; and audit trail capabilities. This specialization ensures that Deltek Costpoint meets the complex financial and reporting requirements unique to its target market effectively catering to professionals such as project managers accountants procurement teams involved in managing intricate projects within regulated sectors