Budget vs Spend
There is an increased demand for an appropriate budget to be in place in advance by the firm’s clients. It has become very important for firms to track the budget for each case automatically as well as update them on a timely basis. In some cases, if the firm’s spend exceeds the agreed-upon budget for a phase, they require approval to bill for more time during that phase. Thus, it is rather important that the firm is able to easily monitor their budget against the time that they have actually billed. This report presents a comprehensive outlook on all the overbudgets and/or underbudgets as well as the firm’s level of tracking the budget.