Home > ERP Software > Costpoint > Costpoint vs IFS Cloud

Costpoint vs IFS Cloud

Last Updated: November 18th, 2024

Our analysts compared Costpoint vs IFS Cloud based on data from our 400+ point analysis of ERP Software, user reviews and our own crowdsourced data from our free software selection platform.

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Product Basics

Deltek’s Costpoint management suite is designed to serve government contractors of all sizes. It includes support for the entire life cycle of a project and includes accounting, manufacturing, business intelligence and materials management inclusions. It maintains high levels of compliance to ensure government contractors are within successful operational parameters.

It is available with both cloud-based and on-premise deployment options and adheres to the ever-growing list of government regulations required of contractors. It helps users streamline daily tasks and complex accounting processes and provides users with valuable visibility into company metrics.

IFS Cloud is a cloud-based ERP system designed to manage all aspects of a staffing agency's operations. It offers features for CRM, financials, payroll, time & attendance, talent acquisition, and more. IFS Cloud is most suited for medium to large staffing agencies that need a comprehensive solution to automate and streamline their processes. Some of the key benefits of using IFS Cloud include improved efficiency, increased profitability, and better customer service. Additionally, it offers popular features such as mobile access, real-time reporting, and integration with other business systems. User reviews suggest that IFS Cloud is a powerful and user-friendly system, but it can be expensive and complex to implement. IFS Cloud is typically priced on a per-user, per-month basis. The cost can vary depending on the size of the agency and the number of features required.

Pros

Streamlines processes
Improves efficiency
Increases profitability
Mobile access
Real-time reporting

Cons

Expensive
Complex to implement
Limited customization
Steep learning curve
Not ideal for small businesses

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Small

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Large

Small

Medium

Large

Windows

Mac

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Android

Chromebook

Windows

Mac

Linux

Android

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Cloud

On-Premise

Mobile

Cloud

On-Premise

Mobile

Product Assistance

Documentation

In Person

Live Online

Videos

Webinars

Documentation

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Live Online

Videos

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Phone

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Knowledge Base

24/7 Live Support

Phone

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Product Insights

Reduce Compliance Costs: Costpoint knows compliance is key for anything related to government work. It can reduce costs associated with DFARS, CAS, SOX, MMAS, ASC 606 and FAR compliances. Lowering costs associated with these compliances can help with passing DCMA and DCAA audits.
Valuable Project and Portfolio Intelligence: Deltek’s Costpoint suite gives users clear visibility and helpful insights to keep projects efficient while gleaning actionable insights for future processes.
HR Process Automation: Automating tedious and time-consuming processes like open enrollment let users focus on more critical tasks. It also includes compliance reports to ensure that you and your teams are within the proper parameters to function successfully.
Audit Preparedness: Cospoint’s software suite makes compliance with DCAA regulations a top priority. It also keeps users within SOX and DFARS guidelines while being compliant with GovCon right out of the box. It also includes sample reports and support for Wide Area Workflows.
Improve Financial Management: Users can leverage Costpoint’s automation features to streamline cumbersome financial processes. It also gives users updated financial information to enhance forecasting.

Improved Efficiency: Automate manual tasks, streamline workflows, and boost productivity with the help of IFS Cloud's automation capabilities. Automate tasks like generating invoices, processing payroll, and sending out reports. Streamline workflows by consolidating data and processes into a single system. Boost productivity by giving employees easy access to the information they need to do their jobs.
Increased Profitability: Reduce costs, optimize resource allocation, and make data-driven decisions with IFS Cloud's insightful analytics and reporting features. Reduce costs by eliminating redundant processes and improving efficiency. Optimize resource allocation by using real-time data to make better decisions about where to allocate your resources. Make data-driven decisions by using insights from your data to identify trends and opportunities.
Enhanced Visibility: Gain real-time insights into your business performance with IFS Cloud's comprehensive reporting and analytics dashboards. Get a clear picture of your business performance with real-time dashboards that track key metrics. Drill down into the details with interactive reports that allow you to analyze your data in any way you want. Share insights with your team with easy-to-use reporting tools.
Improved Collaboration: Facilitate communication and teamwork across departments with IFS Cloud's centralized platform. Break down silos between departments with a single platform that everyone can access. Improve communication with built-in collaboration tools that make it easy to share information and work together on projects. Enhance teamwork with features that make it easy to assign tasks, track progress, and stay organized.
Scalability: Adapt to changing business needs and grow your staffing agency with IFS Cloud's flexible solution. Easily add users and modules as your business grows. Scale your system to meet the needs of your business, regardless of its size. Easily adapt your system to changing business needs with IFS Cloud's flexible architecture.
Compliance: Ensure adherence to industry regulations and legal requirements with IFS Cloud's built-in compliance features. Stay compliant with industry regulations with built-in features that help you meet all the requirements. Reduce the risk of non-compliance with automated processes that ensure you're always up to date on the latest regulations. Get peace of mind knowing that your data is secure and compliant with IFS Cloud's robust security features.
Reduced Risk: Minimize errors and improve data accuracy with IFS Cloud's automated processes. Eliminate the risk of human error with automated processes that handle all the repetitive tasks. Improve data accuracy with features that help you ensure your data is always correct and up to date. Reduce the risk of fraud and theft with IFS Cloud's robust security features.
Enhanced Customer Service: Deliver a better experience for candidates and clients with IFS Cloud's improved responsiveness and communication. Give candidates and clients a self-service portal where they can access the information they need. Improve responsiveness with features that make it easy to track and respond to inquiries quickly. Enhance communication with features that make it easy to share information and stay connected with candidates and clients.
Competitive Advantage: Gain a strategic edge in the market with IFS Cloud's advanced technology and capabilities. Differentiate yourself from the competition with IFS Cloud's innovative features and functionality. Attract and retain top talent with a modern and user-friendly system. Stay ahead of the curve with IFS Cloud's continuous innovation and commitment to providing the latest technology.

Project Management: Provides robust resource management capabilities. Users can budget and source their resources while ensuring that they are being properly distributed and used. It also automates a number of these processes to let users focus on more important tasks.
Procurement Features: Has customizable approval workflows to get purchase requisitions pushed through quickly. Cut down on double entry by automating purchase order generation after approval. Supplier portals boost collaboration and open up communication channels for more effective partnerships.
Manufacturing Support: Supports manufacturing businesses with modules that manage quality, maintain compliance, and quickly adapt to engineering changes. It also provides inventory management features paired with barcode scanners. Contractors can also benefit from the extensive accounting solutions offered by the system.
Time and Expense Management: Gives users multiple avenues to manage employee time, including time entry, leave requests and timesheet approvals. It also provides labor cost, project timeline and expense visibility to give project managers a clear view understanding of how things are progressing.
Analytics and Intelligence: Puts vital data and reports directly into the hands of decision makers to keep the business moving forward. Built-in dashboards, embedded reports, ad-hoc reporting and robust analytics shine a light on the success or failure of daily processes.
Accounting: Ensures that all transactional data is directly tied to the project. It contains features that support labor utilization, invoices for milestones, revenue forecasts, accounts receivable aging and numerous compliance inclusions. Users can leverage project status reports to see how costs measure up to the agreed-upon budget.
Contracts: Leverages automation and a holistic approach to contract management and integrates all critical information into a single source. Users can track proposal costs and bids, rate vendor performance, manage RFPs and more. It also manages subcontracts and can automatically generate projects from opportunity records and contracts.

Enterprise Resource Planning (ERP): Manage core business operations like financials, accounting, supply chain, and human resources.
Enterprise Asset Management (EAM): Track, manage, and optimize the performance of critical assets.
Service Management (SM): Provide efficient and effective service to customers.
Project Management (PM): Plan, execute, and track projects to ensure successful delivery.
Manufacturing Execution Systems (MES): Monitor and control manufacturing processes in real-time.
Mobile Access: Access IFS Cloud applications on the go from any device.
API Integration: Integrate IFS Cloud with other business systems to streamline workflows.
Real-time Reporting and Analytics: Gain insights into your business performance with real-time dashboards and reports.
Advanced Configuration: Tailor IFS Cloud to meet your specific business needs.
Security and Compliance: Ensure data security and compliance with industry regulations.
Scalability: Easily scale IFS Cloud as your business grows.
Multilingual Support: Support for multiple languages and currencies.
Industry-Specific Solutions: Tailored solutions for specific industries, such as Aerospace & Defense, Energy & Utilities, and Construction & Engineering.
Artificial Intelligence (AI) and Machine Learning (ML): Leverage AI and ML to automate tasks, predict outcomes, and make better decisions.

Product Ranking

#54

among all
ERP Software

#14

among all
ERP Software

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Analyst Rating Summary

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User Sentiment Summary

78%

of users recommend this product

Costpoint has a 'good' User Satisfaction Rating of 78% when considering 499 user reviews from 6 recognized software review sites.

86%

of users recommend this product

IFS Cloud has a 'great' User Satisfaction Rating of 86% when considering 878 user reviews from 4 recognized software review sites.

4.1 (14)

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3.5 (58)

4.0 (251)

4.0 (187)

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4.0 (201)

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3.8 (12)

4.5 (560)

3.2 (27)

3.1 (37)

Synopsis of User Ratings and Reviews

Interface: Of the reviews that discuss the interface, 56% of users say this solution has a user-friendly interface and is easy to use.

Accessories: According to 69% of users, this solution's features are enough to streamline productivity and can integrate with each other.

Scalability and Flexibility: IFS Cloud's cloud-based architecture allows for easy scaling to accommodate business growth and changing needs.

Improved Visibility and Insights: Real-time data and powerful analytics tools provide comprehensive insights into business performance.

Reduced IT Costs: Eliminates the need for on-premise hardware and software, reducing IT infrastructure costs.

Enhanced Collaboration: Cloud-based platform facilitates collaboration and communication between teams and departments.

Increased Security: IFS Cloud leverages robust security features and regular updates to ensure data protection.

Implementation: When asked about the implementation process, 43% of users stated it was complex.

Performance: Precisely 72% of users said it takes unnecessary steps to carry out a task and when error messages appear, they're unclear.

Limited Customization: IFS Cloud offers less customization compared to on-premise ERP solutions.

Integration Challenges: Integrating IFS Cloud with existing systems can be complex and require additional resources.

Vendor Lock-in: Switching to a different ERP solution from IFS Cloud can be difficult and costly.

Learning Curve: The user interface and features of IFS Cloud may require a steeper learning curve compared to other ERP solutions.

Limited Offline Functionality: Some features and functionalities may require an internet connection.

Deltek's Costpoint is a tool intended to carry out manufacturing, accounting, BI and other tasks to keep businesses afloat. Users say it's easy to use and simple to navigate features such as time tracking, MRP, reporting, change management and others to enhance operations. Other users say the setup is complicated and the performance isn't great because unclear error messages appear and it takes more steps to complete a task than necessary. Overall, Costpoint is a useful program.

User reviews paint a mixed picture of IFS Cloud. While praised for its scalability and flexibility, users often find it less customizable than competitors like SAP and Oracle. Real-time data and powerful analytics receive high marks, with one user noting, "IFS Cloud finally gave us the insights we needed to optimize our supply chain." Conversely, others report integration challenges with existing systems, highlighting the trade-off cloud-based solutions often present. Despite concerns about vendor lock-in, many users appreciate the reduced IT costs and enhanced collaboration facilitated by IFS Cloud's cloud architecture. One reviewer commented, "After switching to IFS Cloud, our team communication improved dramatically, boosting overall productivity." However, the learning curve is steeper than with some competitors, and some users find the interface less user-friendly. The limited offline functionality is another point of contention, particularly for businesses with unreliable internet access. Overall, IFS Cloud appears best suited for businesses seeking a scalable, secure ERP solution with robust analytics who are willing to invest time in user training and integration. While it may not offer the same level of customization as its on-premise counterparts, the reduced IT costs and improved collaboration can be significant advantages for many organizations.

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FAQ

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