Matter Financials Starter Dashboard
TeamConnect Business Intelligence provides a number of starter dashboards. These dashboards can be configured to meet your specific needs, as they may not work with your system without customization and you may need to remap certain fields depending on your data model.
The minimum version that supports this starter dashboard is TCBI 6.2.0
Introduction
The Matter Financials starter dashboard shows how a matter is performing to budget and is ideal for a tab inside the matter. It helps attorneys to make solid financial decisions with their partner outside counsel based on understanding budgets vs actual spend, pending/accrual spend, and history of adherence to budget over time.
The Matter Financials sample dashboard provides users with information on open matters based on legal spend by matter type, month, vendors, and main assignee and includes the following widgets:
Budget vs. Spend is the overall indicator that shows actual spend compared to the total budget for all vendors for this matter. The number on bottom shows the spend, and the number on the right of the indicator shows total budget. You can adjusting the fiscal year to view budget and spend for a specific time period for all reports on this screen.
Outstanding shows the budget remaining, which is total budget for this matter minus actual spend. Accruals and Pending Invoices indicates the sum of any accruals for this matter (including submitted invoices that have not yet been approved) that are not included in spend.
Budget vs. Spend by Vendor shows a breakdown of budget and spend for matter budgets that span multiple vendors. Clicking one vendor's data adjusts the other widgets to filter by that vendor.
Spend as Percent of Budget displays spend as a percentage of budget for each account period, based on the fiscal year filter selection. This widget shows spend trends over time and determines if budgets need to be adjusted.
Detailed Specification
| Widget Name | Description | Type | Parameters | Obeys dashboard filters | Design | |
|---|---|---|---|---|---|---|
| Essentials (EaB) |
Enterprise (Legal/FM) | |||||
| Spend |
The indicator shows actual spend compared to the total budget for all vendors for this matter/selected dispute. The number on bottom shows the Spend and the number on the right of the indicator shows total budget. Changing the fiscal year filter will allow you to see budget/spend for a specific time period for all reports on this screen.
|
Indicator |
Values: Account Budget and Spend.Account Total Spend (renamed to Total Spend compared to Budget); number decimal places set to zero; uncheck abbreviation for 1M in number formatting Min: 0(default) Max: account budget and spend.account total budget allocated; number decimal places set to zero; uncheck abbreviation for 1M in number formatting |
Values: Account Budget and Spend.Account Total Spend (renamed to Total Spend compared to Budget); number decimal places set to zero; uncheck abbreviation for 1M in number formatting Min: 0(default) Max: account budget and spend.account total budget allocated; number decimal places set to zero; uncheck abbreviation for 1M in number formatting |
Yes |
Indicator Type: gauge Skin: 1 Components: all |
| Outstanding | Budget Remaining is the amount when subtracting actual spend from the total budget for this matter/selected dispute. Accruals and Pending Invoices indicate the sum of any accruals (including submitted invoices that have not yet been approved) for this matter/selected dispute, and are not included in Spend. | Indicator |
Values: Account budget and spend.total budget remaining (renamed to Budget Remaining); number decimal places set to zero; uncheck abbreviation for 1M in number formatting and set decimals to zero Secondary: Account budget and spend.account total calculated accrual (renamed to accruals and pending invoices); number decimal places set to zero; uncheck abbreviation for 1M in number formatting |
Values: Account budget and spend.total budget remaining (renamed to Budget Remaining); number decimal places set to zero; uncheck abbreviation for 1M in number formatting and set decimals to zero Secondary: Account budget and spend.account total calculated accrual (renamed to accruals and pending invoices); number decimal places set to zero; uncheck abbreviation for 1M in number formatting |
Yes |
Indicator Type: numeric Indicator Subtype: simple Skin: vertical Components: Title |
| Spend by Vendor | Breakdown of budget/spend for matter budgets that span multiple vendors. Clicking on one vendor's data will also adjust the other widgets to filter by just that vendor. | Bar |
Categories: Account Budget and Spend.Account Vendor Values: Account budget and spend.account total budget allocated (renamed to Budget), sorted descending; number formatting - set decimals to zero Account Budget and Spend.Account Total Spend (renamed to Spend); number formatting - set decimals to zero |
Categories: Account Budget and Spend.Account Vendor Values: Account budget and spend.account total budget allocated (renamed to Budget), sorted descending; number formatting - set decimals to zero Account Budget and Spend.Account Total Spend (renamed to Spend); number formatting - set decimals to zero |
Yes |
bar type: classic Legend: bottom x-axis: grid lines, labels y-axis: grid lines, labels |
| Spend as Percent of Budget | Displays spend as a percentage of budget for each account period, based on the fiscal year filter selection. This gives the ability to see spend trends over time and determine if budgets need to be adjusted, for example, for the next fiscal period. | Column |
Categories: Account Budget and Spend.Account Period Start On (set to Months) Values: Account budget and spend.account total budget allocated (renamed to Budget) Account Budget and Spend.Account Total Spend (renamed to Spend) |
Categories: Account Budget and Spend.Account Period Start On (set to Months) Values: Account budget and spend.account total budget allocated (renamed to Budget) Account Budget and Spend.Account Total Spend (renamed to Spend) |
Yes |
column type: stack 100 legend: bottom x-axis: grid lines, labels y-axis: grid lines, labels |
Implementation Notes
For TeamConnect Essentials (EaB):
Budgets and Spend are all “normalized” to the system’s base currency once invoices are posted. Any custom modifications to show budgets/spend in other currencies will have to be applied to this dashboard as customization.
For TeamConnect Enterprise:
Budgets and Spend are all “normalized” to the system’s base currency once invoices are posted. Any custom modifications to show budgets/spend in other currencies will have to be applied to this dashboard as customization.
If Client TeamConnect Application does not use the Financial Management module (the older TeamConnect Legal Module is standalone), customization is necessary to use this dashboard.
Summary
As a quick summary, this dashboard addresses some of the following activities:
- What is the spend on this matter?
- How are we tracking spend vs. budget?
- What is my future spend forecast?
- What is deviating from timelines/budgets?