Automatic Matter Forecasting is now available in RedView Acuity, enabling firms to generate forward-looking revenue, cash flow and workload forecasts without manual input.
This feature uses existing matter and historical performance data to automatically build forecasts for individual matters and across the firm.
Key functionality:
Automatically generate matter-level forecasts for fees billed, fees collected and hours worked
Forecasts are based on existing data including:
Average fees billed
Average matter duration
Debtor days
Blended charge-out rates
Forecast period is calculated dynamically based on matter type and expected duration
Remaining fees are automatically distributed across the forecast period
Cash collection timing is projected based on debtor days
One-click “Create Matter Forecast” available within each matter
Bulk forecast creation for multiple matters from the matter list
Enhanced visibility:
Consolidated forecast charts provide firm-wide views of:
Revenuea
Cash collections
Labour requirements
Forecasts can be analysed over multiple time horizons (monthly, 6 months, 12 months, 3 years)
This functionality removes the need for manual forecasting, making it easier to understand future financial performance and resource requirements across the firm.
The RedView Team