CT TyMetrix, a provider of web-based management services, has updated its electronic billing program with the addition of budgeting and forecasting features. TyMetrix 360's enhancements allow companies to better estimate and track outside counsel expenses.
“Creating and managing budgets is essential for complete litigation management,” said Kurt Swanke, senior product manager at CT TyMetrix. “Many management factors are reliant upon efficient budgeting, including the selection of appropriate counsel, use of effective plans of action, and expense control disciplines.”
The program provides users with pre-configured templates, based on their departmental structures, that can be used to create budgets for individual matters and law firms. Once created, financial information can be sorted by line item, fee and expense, task code, or phase. A history of every budget is stored, allowing companies to compare previous budgets to each other or against current budgets.
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