Brightflag’s new budgeting options allow in-house teams to better align and partner with their finance team.
NEW YORK – Brightflag, the modern e-billing and matter management platform that enables corporate legal teams to operate like a business, recently launched several new budgeting features to help corporate legal teams confidently manage their legal spend. These updates come at a time of intense scrutiny over budgets, as the challenging macroeconomic environment leads companies to value cost efficiency and predictability more highly than ever.
The new budgeting features enable legal teams to collaborate with their vendors to set, enforce, and report on matter budgets on a fiscal quarter, fiscal year, or life-of-matter basis. In addition, the new features extend Brightflag’s existing budgeting capabilities which enable in-house to track matter budgets by phase and by month, and to set top-down budgets at the overall, department, legal entity, or vendor level.
With the new capabilities, Brightflag customers can align their processes with the planning preferences of their finance team. In some companies, finance teams prefer to set budgets by fiscal year, while others require more granularity and therefore use monthly or quarterly budgets. In-house teams can use Brightflag to create budgets at the level of granularity preferred by the finance team, easing the budgeting process.
“Brightflag’s mission is to enable legal teams to create and protect business value by effectively controlling their budget,” said Ian Nolan, Brightflag CEO and co-founder. “Our new features enable legal teams to improve their budgeting and be an even more effective financial steward for their business”.
Brightflag is modern e-billing and matter management software for legal teams and their finance partners to operate like a business, backed by outstanding customer service. Clorox, Shopify, Volvo, and other leading companies use Brightflag to create and protect business value by effectively controlling their budget. It’s the only platform that has AI at its core powering e-billing, financial reconciliation, financial planning, and vendor benchmarking.