InvoiceIQ - General Counsel Dashboard

Introduction

The General Counsel InvoiceIQ starter dashboard, which is ideal for the Main home page, shows how individual matters are performing in relation to the overall budget. It supports day-to-day business decisions, risk assessments, and “course corrections” based on financial data and provides visibility to law firm violations as well as adjustments made to invoices to comply with norms that are being processed. 

It helps in making solid financial decisions and also eliminates unnecessary spending on the matter with minimal human interventions. 

It also helps to search for potential areas of savings by providing visibility on the actions performed by the firms based on the InvoiceIQ recommendations.

Invoices are submitted in the vendor’s currency.  As a result, the reporting on invoices must be normalized to the system currency in order to allow for consistent comparisons.  Therefore all of the monetary fields on the dashboards are taking the exchange rate for the invoice into account.  The exchange rate is captured on the invoice from the exchange rate table when the invoice is approved and posted. These are the widgets that normalizes to system currency:

• Total Budget vs Total Spend vs Total Adjustments
• Top 5 UTBMS Codes Being Misused
• Top 5 Practice Areas with Violations (Top 3)
• Top 5 Law Firms with Violations(Top 3)

Note: For AGC, we do have similar dashboards for each particular practice area.

The General Counsel dashboard provides general counsel users with a quick overview of metrics related to total adjustments, violations and includes the following widgets: 

Total Budget vs Total Spend vs Total Adjustments displays the following information:

• Total Budget  = Budget for all matters across all practice areas
• Total Spend = Net total value of invoices across all matters (Total Original Amount - Total Adjusted Value = Net Total)
• Total Adjustments = Total Adjusted Amount across all matters (Total Original Amount - Total Net Total = Total Adjusted Value)

The currency information in the Total Budget vs Total Spend vs Total Adjustments widget has been normalized into the system currency i.e., the values of invoices which were submitted in the currency different from system currency will be automatically converted to the system currency.

Top 5 Adjustments by Practice Area report shows the top 5 Adjustments by Practice Area which can be visualized in the following formats:

• Trend Chart: Representing the Net Total of all invoices for that practice area with most adjustments for previous four quarters.
• Horizontal Bar Graph: The total adjustment vs spend on total invoice line items after adjustments in a bar graph.
• Table: Displays top 5 adjustments by Practice Area in a detailed tabular format. The format includes details as follows:
  • Practice Area = The Matter’s Practice Area (sometimes referred to Categories in some environments)
  • Law Firm = The law firm associated with the invoice
  • Matter Name = The matter associated with the invoice
  • Matter Budget($) = The budget allocated for the matter
  • Time Period =  Corresponding Quarter of the Invoice
  • Percentage of the Overall Budget(%) = (Net Invoice Value($)/Matter Budget($))*100
  • Spend by Law Firm for the Specific Matter($) = How much spend for the specific law firm on the matter
  • Invoice Number = A unique number, that is systematically assigned to invoices sequentially 
  • Net Invoice value($) = Total invoice line item value after adjustment
  • Total Adjustments on the Invoice value($) = How much adjustments made on the invoice

Top 5 UTBMS Codes Being Misused report shows the top 5 UTBMS codes being misused which can be visualized in the following formats:

• Trend Chart: Representing the Net Total of top 5 UTBMS codes that have been misused (across all line items in invoices, across all practice areas) for previous four quarters.
• Horizontal Bar Graph: Each bar represents the “Net Total” of a specific UTBMS code that has been misused (across all line items, across all invoices in all practice areas)
• Table: Displays Top 5 UTBMS codes being misused in a detailed tabular format.The format includes details as follows:
  • Invoice Number = A unique number, that is systematically assigned to invoices sequentially 
  • Net Invoice value($) = Total invoice line item value after adjustment
  • Misused codes = This is the UTBMS code that is potentially misused in the invoice
  • Percentage of misused codes(%) =Net Total value of all the line items with misused codes in the invoice * 100 / Total invoice line item value after adjustment
  • Misused codes value($) = Net Total value of all the line items with misused codes in the invoice
  • Matter Name= The matter associated with the invoice
  • Law Firm = The law firm associated with the invoice
  • Practice Area= The Matter’s Practice Area (sometimes referred to Categories in some environments)
    
    

The currency information in the Top 5 UTBMS Codes Being Misused widget has been normalized into the system currency i.e., the values of invoices which were submitted in the currency different from system currency will be automatically converted to the system currency.

Top 5 Practice Areas with Violations (Top 3) report shows the Top 5 Practice Areas with Violations which can be visualized in the following formats:

• Trend Chart: Each trend line represents the “Net Total” of invoice line items that had been adjusted for this specific violation across all invoices for previous four quarters.
• Horizontal Bar Graph: The ‘Net Total’ of top 3 violations within the practice area in a bar graph
• Table: Displays top 5 Practice Areas with Violations in a detailed tabular format. The format includes details as follows:
  • Practice area= The Matter’s Practice Area (sometimes referred to Categories in some environments)
  • Law firm = The law firm associated with the invoice
  • Matter Name= The matter associated with the invoice
  • Invoice number = A unique number, that is systematically assigned to invoices sequentially 
  • Net Invoice Value($)= Total invoice line item value after adjustment
  • Time Period =  Corresponding Quarter of the Invoice
  • Total value of violations on invoice(%) = Total Value of the Line items with violations * 100 / Total Value of all the line items
  • Total value of violations on invoice($) = Total sum of line items on the invoice that have violations
  • Invoice primary key = The Primary Key of the Invoice in the system
  • Top 1 Violation(%) =Total Value of Line Items with ‘Top 1 Violation’ violations * 100/ Total Value of the Line items with violations 
  • Top 1 Violation($) = Percentage Value of ‘Top 1 Violation’ (%)/100) * Total Value of Violations on Invoice
  • Top 2 Violation(%) =Total Value of Line Items with Top 2 Violation * 100/ Total Value of the Line items with violations
  • Top 2 Violation($) = Percentage Value of Top 2 Violation(%)/100) * Total Value of Violations on Invoice
  • Top 3 Violation (%)=Total Value of Line Items withTop 3 Violation * 100/ Total Value of the Line items with violations
  • Top 3 Violation ($)= Percentage Value of Top 3 Violation (%)/100) * Total Value of Violations on Invoice

 

The currency information in the Top 5 Practice Areas with Violations (Top 3) widget has been normalized into the system currency i.e., the values of invoices which were submitted in the currency different from system currency will be automatically converted to the system currency.

Top 5 Law Firms with Violations(Top 3) report shows the Top 5 Practice Areas with Violations which can be visualized in the following formats:

• Trend Chart: Each trend line represents the ‘Net Total’ value of all the invoices from the Law Firm for the previous 4 quarters.
• Horizontal Bar Graph: The ‘Net Total’ value of top 5 law firms with violations and top 3 violations associated with each law firm.
• Table: Displays top 5 Law Firms with Violations in a detailed tabular format. The format includes details as follows:
  • Law Firm = The law firm associated with the invoice
  • Matter Name = the matter associated with the invoice
  • Practice Area = The Matter’s Practice Area (sometimes referred to Categories in some environments)
  • Spend by Law Firm for the Specific Matter($) = How much spend for the specific law firm on the matter
  • Time Period =  Corresponding Quarter of the Invoice
  • Invoice Number = A unique number, that is systematically assigned to invoices sequentially .
  • Net invoice value($)=  Total invoice line item value after adjustment
  • Total value of violations on invoice (%)= (Total Value of Violations on Invoice ($)/Net Invoice Value ($)) *100
  • Total value of violations on invoice ($)= Net Total value of the line items with Violations on the invoice
  • Invoice Primary Key= The Primary Key of the Invoice in the system
  • Top 1 Violation(%) =Total Value of Line Items with ‘Top 1 Violation’ violations * 100/ Total Value of the Line items with violations 
  • Top 1 Violation($) = Percentage Value of ‘Top 1 Violation’ (%)/100) * Total Value of Violations on Invoice in USD
  • Top 2 Violation(%) =Total Value of Line Items with Top 2 Violation * 100/ Total Value of the Line items with violations
  • Top 2 Violation($) = Percentage Value of Top 2 Violation(%)/100) * Total Value of Violations on Invoice in USD
  • Top 3 Violation (%)=Total Value of Line Items with Top 3 Violation * 100/ Total Value of the Line items with violations
  • Top 3 Violation ($)= Percentage Value of Top 3 Violation (%)/100) * Total Value of Violations on Invoice in USD
    

The currency information in the Top 5 Law Firms with Violations(Top 3) widget has been normalized into the system currency i.e., the values of invoices which were submitted in the currency different from system currency will be automatically converted to the system currency.

Insights vs Warnings vs Adjustments can be visualized in the following formats:

Trend Chart

• Warnings  = Total invoice line item value + Warnings = Original Amount
• Adjustments to Warnings = Total invoice line items with warnings after adjustments = Adjusted value (Original Amount - Net Total)
• No Insights or Warnings = Total invoice line items with no insights or warnings = Original Amount
• Adjustments when no insights or warnings = Total Invoice line items with no insights or warnings after adjustments Adjusted value (Original Amount - Net Total)
• Insights and Warnings with no Adjustments = Total invoice line items with insights or warnings - (adjusted value of insights + warnings) 

Bar Graph

• Insights = Total gross value of line item with insights on the invoice(Original Amount)
• Adjustments to Insights = Total Adjustment to line items with Insights on the invoice(Original Amount - Net Total)
• Warnings = Total gross value of line item with warnings on the invoice(Original Amount)
• Adjustments to Warnings = Total Adjustment to line items with Warnings on the invoice(Original Amount - Net Total)
• No Insights or Warnings = Total gross value of line item with no insights or warnings on the invoice(Original Amount)
• Adjustments when no insights or warnings = Total Adjustment to line items with no Insights or no Warnings(Original Amount - Net Total)
• Insights and Warnings with no Adjustments = Total invoice line items with insights or warnings but with no adjustments

Tabular Format

• Invoice Number = A unique number, that is systematically assigned to invoices sequentially .
• Net Invoice Value($) =  Total invoice line item value after adjustment
• Insights(%) = Net total value of all line items with Insights within that invoice * 100 / Total invoice line item value after adjustment
• Insight ($) = Net total value of all line items with Insights within that invoice
• Adjustments on Insights (%) = Net total value of the line items with insights on which the Adjustments have been made  * 100 / Net total value of all line items with Insights within that invoice
• Adjustments on Insights ($) = Net total value of the line items with insights on which the Adjustments have been made 
• Warnings (%) =  Net total value of all line items with Warnings within that invoice * 100 / Total invoice line item value after adjustment
• Warnings ($) = Net total value of all line items with Warnings within that invoice
• Adjustments on Warnings (%) = Net total value of the Adjustments made on the Line Items with Warnings * 100 / Net total value of all line items with Warnings within that invoice
• Adjustments on Warnings ($) = Net total value of the Adjustments made on the Line Items with Warnings
• No Insights or Warnings (%) = Net total value of all line items with no Insights or Warnings within that invoice * 100 /  Total invoice line item value after adjustment
• No Insights or Warnings ($) = Net total value of all line items with no Insights or Warnings within that invoice
• Adjustments when no Insights or Warnings (%) = Net Total value of all the Line Items with no Insights or Warnings on which the adjustments have been made * 100 / Net Total value of Line Items with no Insights or Warnings
• Adjustments when no Insights or Warnings ($) = Net Total value of all the Line Items with no Insights or Warnings on which the adjustments have been made
• Insights + Warnings and No Adjustments($) = Net total value of all line items with Insights and, Warnings or both Insight and Warning but but no adjustments in that invoice
   
• 

Detailed specifications

Widget Name	Parameters	Obeys dashboard filters	Design
Total Budget vs Total Spend vs Total Adjustments	Total Budget: Total budgeted amount for all matters Total Spend: Total Invoices paid Total Adjustments: Total adjustments made on all invoices	No	Bar type: classic X-axis & Y-axis: labels
Top 5 Adjustments by Practice Area:	Trend of Adjustments by practice area with respect to aggregate line item amount Rows: Practice Area, Law Firm, Matter Name, Matter Budget($), Time Period, Percentage of Overall Budget(%), Spend by Law Firm for the Specific Matter($), Invoice Number, Net Invoice Value, Total Adjustments on the Invoice($)	Yes	Bar type: classic Legend: Top X-axis & Y-axis: labels
Top 5 Practice Areas with Violations	Trend of top 3 violations across top 5 practice area with respect to the line item amount   Rows: Practice Area, Law Firm, Matter Name, Invoice Number, Net Invoice Value, Time Period, Total Value of Violations on Invoice(%), Total Value of Violations on Invoice($), Invoice Primary key, Top 1 Violation(%), Top 1 Violation($) Top 2 Violation(%), Top 2 Violation($) Top 3 Violation(%), Top 3 Violation($)	Yes	Bar type: classic Legend: Top X-axis & Y-axis: labels
Top 5 UTBMS Codes Being Misused	Trend of top 5 UTBMS codes that has violation on line items with respect to line item amount Rows: Invoice Number, Net Invoice Value, Misused Codes, Percentage of Misused Codes(%), Misused Codes Value($), Time Period, Matter Name, Law Firm, Practice Area	Yes	Bar type: classic X-axis & Y-axis: labels
Top 5 Law Firms with Violations	Trend of top 3 violations across top 5 law firms with respect to the line item amount Rows: Law Firm, Matter Name, Practice Area, Spend by Law firm for the specific Matter($), Time Period, Invoice Number, Net Invoice Value, Total Value of Violations on Invoice(%) Total Value of Violations on Invoice($), Invoice Primary Key, Top 1 Violation(%), Top 1 Violation($) Top 2 Violation(%), Top 2 Violation($) Top 3 Violation(%), Top 3 Violation($)	Yes	Bar type: classic Legend: Top X-axis & Y-axis: labels
Insights vs  Warnings vs Adjustments	Insight: Amount on line items which has InvoiceIQ insights and recommendation Warning: Amount on line items which has CSM warning Adjustments: Total amount of adjustments on line items Rows: Invoice Number, Net Invoice value, Insights(%), Insights($), Adj on Insights(%), Adj on Insights($), Warnings(%), Warnings($), Adj on Warnings(%), Adj on Warnings($), No Insights or Warnings(%), No Insights or Warnings($), Adj when no Insights or Warnings(%), Adj when no Insights or Warnings($), Insights+Warnings No Adj($)	Yes	Bar type: classic X-axis & Y-axis: labels

Summary 

As a quick summary, this dashboard addresses the following activities:

• How effectively are we doing the legal spend?
• How much are we saving by doing the adjustments on line items based on the InvoiceIQ recommendations?
• Better visibility into the spend of the legal department across various categories?