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Top Ten Reasons to Upgrade to Costpoint 7 – Part 1

June 12, 2012 | BY: NeoSystems
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So you’ve heard all about the release of Costpoint 7, but what’s in it for you? Does it make sense to upgrade now? This year? Next year? Or even at all? In the first part of a two part series on upgrading to Costpoint 7, we’ll cover the compelling reasons to make the transition and what timeline makes sense for companies.

1) Stay current on maintenance – With every new software version release comes the retirement of support for its predecessor. Per the “Customer Care Lifecycle:  Deltek Costpoint Product Family” published by Deltek on 4/30/12, Deltek will retire Maintenance Support for Costpoint 6.1 SP2 12-18 months after the April 2012 release of Costpoint 7.

Currently, Deltek is estimating that Costpoint v6.1 will be retired from “Maintenance Support” and entering “Sustaining Support” in October 2013. Costpoint users should begin planning now and prepare to have their upgrades completed well prior to the October 2013 deadline. Costpoint administrators should review their individual support agreements with Deltek to fully understand the impact of Costoint 7 on support and maintenance statuses.

2) Get current with the latest database, server, and workstation software – Rob already covered many of the reasons why your IT department will love Costpoint 7. But it’s worth noting again. If it’s been a few years since you last upgraded your technical infrastructure, Costpoint 7 will bring you up to speed with the latest technologies.

Costpoint 7 uses:

  • Oracle RDBMS 11g Release 2 (11.2.0.1 or higher) OR Microsoft SQL Server 2008 R2
  • Oracle RAC (using distributed connection pools provided by WebLogic Server)
  • Internet Explorer 9.x

While your organization is certain to benefit from the upgraded technology, taking on these capital expenditures could be a little daunting. It may make sense to outsource your Costpoint hosting to a third party provider like NeoSystems.

3) Take advantage of the new functionality, including:

  • Enterprise Content Management Integration – Link documents stored within Costpoint to a CMS and retain the link as the doc processes within Costpoint.
  • New Preprocessors such as Fixed Assets, Cash Receipts, and Vendor Master Preprocessors added
  • ACRN/WAWF Improvements – Now you can submit standard ACRN bills through WAWF
  • Segregation of duties – Previously available in CP6.1 web module and now standard in CP7 – through selective displays based on duty configuration, your Costpoint users will see a much cleaner screen.
  • Positive Pay Functionality – Modification of check printing to accommodate positive pay requirements from major banks

4) Process more efficiently with Job Server Enhancements – Job Server no longer runs on a dedicated workstation but instead utilizes the power of the application server, improving the processing speed. Other upgrades include the ability to retry locked jobs during processing, job prioritization management within the queue, and enhanced process server monitoring capabilities.

5) Improved Reporting Capabilities – The enhanced reporting experience within Costpoint allows you to directly email reports to your key personnel or convert reports into pdf, excel, html, and rtf directly from the system.  Additional improvements include an upgraded reporting format and a linked table of contents, to name a few.

Stay tuned for Part 2 of the Top 10 reasons to Upgrade to Costpoint 7 coming later this week.

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