Case Study: Parker Poe achieves faster budgeting and significant cost savings with Thomson Reuters Elite's xcelerate Budgeting & Forecasting

Cutting Time and Saving Costs with xcelerate Budgeting and Forecasting

Parker Poe Adams & Bernstein LLP, a nearly 200‑lawyer regional law firm, was managing its budget from a single, static Excel spreadsheet that required line‑by‑line revisions, consumed dozens of hours each month, and left leaders working from outdated information—creating a risk of overspending. The firm needed an automated, integrated, and user‑friendly budgeting solution to replace this labor‑intensive process.

The firm implemented xcelerate Budgeting and Forecasting (an Excel- and web‑based tool that integrates with Enterprise/3E), giving real‑time, firm‑wide visibility, automated updates, dashboards and drill‑downs, and configurable global calculations. The change eliminated manual reporting, cut reporting time dramatically (saving the controller roughly 20 hours/month plus weekly ad‑hoc hours and reducing some tasks by about 25%), improved forecasting accuracy, and prevented overspend—saving the firm tens of thousands of dollars annually.

Parker Poe

James Roden

Director of Compensation and Benefit