Brightflag brings together rigorous budgeting capabilities and AI-powered legal spend forecasting software in a single, easy-to-use interface, enabling in-house teams to take control of their legal spend.
Spend planning that works the way you do.
Brightflag supports both top-down (e.g., by department, country, or practice group) and bottom-up (by matter or phase) budgeting. Whatever your approach to financial planning, Brightflag helps you tie everything together and convert it to your preferred currency.
Obtain approvals and track changes centrally.
The first step in taking control of legal spend is to set budgets consistently. Brightflag centralizes this effort, providing a single interface for requesting, approving, and tracking changes to budgets. That means no more complicated spreadsheets and endless email approval threads.
Enforce budget adherence during invoice review.
Brightflag notifies invoice reviewers when spend exceeds a percentage of budget, for example 85%, so that action can be taken with the vendor to minimize the risk of overspend. Invoices that would cause a budget overrun can be automatically adjusted down or rejected for correction.
Achieve predictability with AI-powered forecasting.
Brightflag leverages big data and machine learning to predict how much spend is likely to be incurred under each budget. This sophisticated technology delivers the legal spend predictability that has eluded in-house teams for decades, creating confidence in cost control initiatives.
Use historical data to increase budget accuracy.
Compare similar historic matters to set appropriate budgets. Delve into the data to understand the hours worked, the resourcing profile, and the costs for individual tasks and activities. Historical data can also be used to separate large and non-recurring matters from ongoing work and inform annual budgets.
As well as enabling the legal team to work more efficiently, we are now much more aware across our spend and budget.