Customer Success Story
Planning Systems
Deltek GCS Premier® Manages Accounting, Auditing Needs of Military Technology Contractor
The Challenge
Reston, Virginia-based Planning Systems Inc. (PSI) develops innovative technologies for clients such as the Department of Defense, FAA, NASA, Air Force, Department of Justice and the Department of Agriculture. With so many high-profile contracts to manage, PSI needed an ERP system that would keep them upto- date with Federal Acquisition Regulations (FAR) and Cost Accounting Standards (CAS) as well as effectively track and analyze budget, project cost and other financial information.
Previously, PSI had been using Deltek's DOS-based System1 accounting solution and was satisfied with the system since implementing it back in 1993. However, as PSI's controller Rick Jackson explained, like other accountants and controllers at the time, he was seeking a Windows-based solution that would offer strong financial and project accounting with solid reporting tools.
The Solution
Jackson, who has known of Deltek and CEO Ken deLaski for more than 20 years, felt that adopting GCS Premier would be a logical and proven choice for PSI. “We had tremendous success with our original Deltek program, and we knew that GCS Premier was built specifically for those in the government contracting business, so it was a no-brainer for us to stay with Deltek,” he said.
The Benefits
PSI implemented GCS Premier back in 2000 and experienced tangible benefits almost immediately. According to Jackson, the first of these were more accurate and timely financial reports. With the fully integrated solution, PSI is now able to produce and disseminate monthly reports for managers just three to five days after the month's close. These reports detail key data such as income statements, project status, balance sheets, revenue, and actual cost versus budget for each contract.
“These reports are a snapshot for each of our programs,” Jackson said. “As a result, if a project is going off course or above budget, our managers can take corrective action immediately rather than waiting for weeks to determine if the project is moving in the wrong direction. As a result, we don't pay for that lost time in our bottom line.”
Another improved efficiency includes PSI's accounting operations. With GCS Premier, PSI is able to process all accounts payable on a weekly basis. The system enables PSI to write and process over 500 checks a month, or 125 checks per week. As a result, PSI is consistently in good standing with business partners and vendors. In addition, with the ability to print invoices in standard government-specified formats, processing is automated — resulting in lower aged receivables.
“When our accounts receivable bills go out faster, the faster we get paid by our customers,” Jackson said. “Cash is king in business, and this definitely increases our cash flow.”
Along with GCS Premier, PSI also recently purchased the optional add-on application, DataPort, which permits real-time access directly into the data tables of GCS Premier. Project analysts can then push this information into everyday computer applications, such as Microsoft® Excel, Access or PowerPoint. Fiscal and contract information can then be displayed in easy-to-understand visual formats, such as graphs or pie charts, expanding analytical capabilities.
The payroll application within GCS Premier enables PSI to further improve their bottom line by eliminating the need to outsource human resource functions and reporting. Twice per year, GCS Premier payroll application is updated in compliance with federal, state and local tax tables. Other federal and state payroll updates include calendar year end requirements, such as W2s, which are updated yearly.
“GCS Premier has made it easier to transition many of our processes and procedures to a purely electronic format,” he said. “Multiple reporting options enable project managers and other key personnel to view important financial data in an easy to understand way. On the same token, we're producing reports through GCS Premier that are completely paperless, stored as PDFs and housed on CDs, which can easily be transmitted to our various field offices electronically.”