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SilverEdge provides results driven business consulting services and Deltek software solutions to help professional services organizations:

Improve project quality and cash flow
Streamline operations and execution
Win more business
Improve Resource Efficiency

Give SilverEdge a call today!
(800) 438-6860
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JF New and SilverEdge present “Increasing Profitability with Deltek Vision for Project Managers/Executives”
Presented by Wendy Loehr, Vice President and CFO of JF New and Associates, Inc. and Maria Vedral, President, SilverEdge Software Systems Software, Inc. (Co-Speaker) at Deltek Insight 2009.

JF New & Associates, Inc., a 130 person award winning firm with 10 offices who migrated from Deltek FMS, experienced their most profitable year ever implementing Vision firm wide. Wendy went into detail on how JF New stakeholders now have instant access to critical data and visibility into the financial health of their projects and the organization, reducing project manager paperwork, and streamlining processes and internal communications. She also gave ideas on how JF New now manages the entire services delivery process from initial opportunity, to project planning, to completed contract using the power of workflows, dashboards, user defined tabs/fields, and alerts to drive efficiencies. Wendy was also able to share best practices and lessons learned any firm can implement to drive growth and profitability.

Illinois Technology Association Interviews SilverEdge President

The Illinois Technology Association recently interviewed SilverEdge President Maria Vedral. Maria speaks about her experience in the industry, upcoming trends, and tells the history of SilverEdge.

An Article from the November/December 2009 issue of INSIGHT Magazine Published by the Illinois CPA Society

SilverEdge Systems Software
Resource Management Solution for Project-Focused Firms

SilverEdge Systems Software Inc. is an award-winning company that provides corporate resource management software solutions to help clients better manage their projects, employees, clients and marketing functions—and enhance cash flow and profits.

Deltek Vision is SilverEdge’s leading software solution. With the goal of enabling users to gain a single overview of their project lifecycle and supporting systems, Deltek Vision consolidates employee, project, customer, marketing and financial information into an integrated, real-time tool, which then allows for greater efficiency and better, faster decision-making. The database also brings together all of an organization’s functions, including project management, IT, accounting and business development, thereby promoting collaboration and knowledge- sharing between groups.

“Deltek Vision impacts a company’s bottom line by driving business growth, optimizing project quality and cash flow, and improving resource efficiency,” explains SilverEdge Systems Software President Maria Vedral.

One way the solution increases efficiency is by automating processes. For example, the accounting and billing function, which was designed specifically for project-focused firms, eliminates work-arounds and dependence on multiple systems. “Deltek Vision automates all your accounting processes with stringent internal controls, providing a complete financial management and project accounting system, multicurrency, multi-company, intercompany billings and transfer, and other advanced accounting features, including workflows and dashboards,” Vedral explains.

What’s more, the real-time element of the solution means that users can access project, financial and business information anywhere, anytime. Specifically, the web-based architecture provides access to user-specific or rolebased dashboards, targeted and configurable reports with drilldown, and a single database for all critical business processes.

The solution also helps to eliminate leaks in billable time and expenses, and captures data to such a level of detail that it supports project and budget management, as well as contractual requirements. “Project invoices are accurate the first time, which shortens the billing cycle and time to payment,” says Vedral. “With targeted AR aging reports and alerts, the team can stay on top of the collections process.”

Like the other software scene players mentioned here, SilverEdge takes advantage of burgeoning technologies. “We utilize tools like GoToWebinar to offer free Internet training seminars to our clients. By providing online one-on-one training, we eliminate travel costs and improve the training and support experience by being able to see our clients’ screens and take control of them if it makes sense,” Vedral explains.

As Published in the Wisconsin American Council of Engineering Companies of Wisconsin October 2009 Newsletter

Let's Have a Serious Conversation
By Maria Vedral, President of SilverEdge

Metrics that Matter

How do you survive these economic times and position your firm for greater success in the eventual recovery? Do you know where your organization is strong and where it is weak so that you can focus your efforts and gain, instead of losing ground?

Let’s start that serious conversation, or Business Value Assessment, defined by the framework pillars of Driving Business Growth, Optimizing Project Quality and Cash Flow, and Improving Resource Efficiency.

Growth levers for Driving Business Growth include: Acquiring new clients, increasing existing client value and decreasing the cost of sales - business development.

Per SPI Research: “Information visibility is critical to knowing which of these “levers” to pull in order to successfully operate as conditions change”[1]

Driving Businss Growth

Acquiring new clients is key, especially with existing clients tightening budgets. Ask yourself, how many proposals are submitted for new clients each month? What is your win rate % for new client proposals? What is your average length of client relationships (months)? What is the annual value of a typical client?

For comparison, per SPI Research, the best firms have a Bid: Win ration of 7.43, where the survey average is 5.36 with a delta of 38.5%.

When we look at increasing existing client value, “Over half of Professional Services Organization surveyed by SPI Research did not have an incentive program for their most valuable clients.”[2]

SPI Research found that 57% of the top 7 Firms in their survey had Top Client Premium Program & Incentives in place. Do you have a program for increasing client value?

What is spent on business development? How many hours each month creating proposals (across the company)? What is the blended hourly rate of these resources?

Visibility in to Key Metrics

Leading firms that perform exceptionally have executive real-time visibility in to metrics that matter.

Where does your firm stand with respect to industry leaders? Where should you focus?

Take a candid view of your company in this area as well as in Optimizing Project Quality and Cash flow, and Improving Resource Efficiency.

Better yet, contact us to provide a free Business Value Assessment, and receive a written report providing valuable insight as to how your firm's metrics compare against the most profitable and successful professional service organizations for your review and action plan.

Contact us today for your serious conversation because we are truly committed to your success!

[1] Service Performance White Paper: Service Compass: Charting the Course to Professional Service Excellence by David Hofferberth and Jeanne Urich / SPI Research, Inc. (spiresearch.com). Contact SilverEdge for a copy.

[2] Same as 1.

welcome

An Article from the November/December 2009 issue of INSIGHT Magazine Published by the Illinois CPA Society

SilverEdge Systems SoftwareResource Management Solution for Project-Focused Firms

SilverEdge Systems Software
Resource Management Solution for Project-Focused Firms