Budget Management Tool
With Foley’s Budget Management Tool, you can easily track actual fees and expenses at any stage in a billing period against budget estimates and access graphical budget reports comparing actual performance to budgets.
The Budget Management Tool:
- Eliminates budget “surprises” by providing transparency regarding fees as they are incurred
- Provides predictability about total matter costs for the life of the matter and current activity period
- Provides matter progress status
- Enables real-time collaboration between you and Foley
- Provides high-level budget review screen showing summary of all matters with established budgets for a client
- End of matter projected budget based upon charges to date
- Projected over/under established budget
This award-winning online tool provides:
- Budget and charges summary
- Overview and budget detail view
- Percent complete estimate for overall budget
- Budget detail by interval
- Review of current budget interval
- Navigation through budget intervals
- Comparison of projected cost against current charges
The Budget Management Tool also offers graphical presentations of budgets and schedules, allowing you to:
- Visually compare budget spent to time elapsed
- View spending analysis by budget interval
- Track monthly spend over life of budget
- Provide additional data detail
You also can drill down to phase and task-level budget detail to view task detail with begin and end dates as well as percent complete estimates for individual tasks.