Overview

BigHand Budgeting and Forecasting automates and streamlines the annual budgeting process for law firms, replacing manual, time-consuming tasks with efficient workflows. It enables accurate forecasting of cash and accrual-based revenue while simplifying variance tracking. The software integrates seamlessly with practice management systems to keep budget-to-actual data current, supporting timely financial decisions. With decentralized budgeting and customizable models, it enhances collaboration, accountability, and accuracy in legal financial planning.

Features and Capabilities

• Employee Expense & Revenue Modeling: Secure access to employee profiles allows for quick and accurate calculation of expenses and revenue. Users can update formulas for both cash and accrual accounting methods, enabling immediate calculation for all employees.
• Integrations: Seamless integration with practice management systems like Elite (Enterprise and 3E) and Aderant Expert ensures timely management of budget-to-actual results.
• Decentralized Budgeting: The software supports decentralized budgeting processes, allowing staff to securely enter budgets for their areas of responsibility, freeing up management and improving accountability.
• Customizable Budget Models: Easily recycle budget models with real-world metrics year after year, reducing the time taken to create initial budgets.
• Centralized Database: Maintain data integrity with a centralized database, ensuring consistency and accuracy across all budget entries.
• Detailed Budget Entry: The unique design allows for detailed entry of budget information while affording the ability to aggregate and report on each budget at any dimension.
• Variance Analysis: Analyze budget variances and collect explanations, providing insights into financial performance and areas for improvement.
• Browser-Based Worksheets: Distribute browser-based worksheets, facilitating collaboration and ease of access for all stakeholders.