Financial

Budgeting

Combine the benefits of estimating spend at both macro and micro levels with enforcement tools that monitor adherence in the budgeting process.

Budget Routing

Save time creating budgets for matters, law firms, and other vendors with an easily customizable budget approval workflow to help internal and external teams align cost expectations, and incorporate law firm guidance into the budgeting process.

Accrual Management

Accurate forecasting and budgeting for legal expenses depends on an efficient process for handling accruals. TyMetrix 360° allows you to strike the perfect balance between efficiently processing standard accrual transactions within your pre-set parameters, and keeping you notified when human intervention is needed.

• Basic Accruals - Track unbilled or predicted time and expenses on matters.
• Accrual Routing - Accrual routing integrates seamlessly with your invoicing workflow to extend spend management capabilities beyond the basic invoice level, allowing for deeper, more up-to-date tracking of expenditures.
• Accrual Review - TyMetrix 360° automatically evaluates incoming invoices against the initial accrual amount, comparing the accrual amount to each incurred amount in order to resolve any conflicts. Automation of this process increases the efficiency and accuracy in the data collection and reporting of accruals.

Forecasting

The Forecasting application extends control over your legal spend. Forecasts sit at the top of the legal spend management hierarchy, above budgets, allowing you to estimate at a more global level than that of the budget: by law firm, line of business, and even by department. When forecasting is combined with budgeting, you can easily monitor spend to ensure that top-line estimates are not exceeded.