3E Financial Reporting and xcelerate Budgeting and Forecasting Secure Significant Market Adoption in First Year of General Availability

Sep. 25, 2015

Thomson Reuters Elite, part of Thomson Reuters Legal, today announced the success of the 3E® Financial Reporting and xcelerate Budgeting and Forecasting Microsoft® Excel®--based solutions since they were launched at the VANTAGE 2014 London User Conference. A total of 45 3E clients have selected the Financial Reporting multi-dimensional database technology to gain advanced analytical features and highly formatted financial statement. In the first half of 2015 alone, 14 clients integrated xcelerate Budgeting and Forecasting with their 3E and Enterprise™ solutions in order to protect profits with real-time insights.

“xcelerate’s dashboard functionality enables our team to quickly turn around critical processes by generating reports, automating manual processes, and drilling down to additional details,” said Greg Molchan, financial systems and reporting manager at Parker Poe. “Our implementation team has been blown away by the product and how quickly it has benefitted our firm.”

Charles Furness-Smith, finance director at Nabarro LLP commented, "Our approach to adopting new systems is motivated by our need to improve the service we offer clients. xcelerate will help make our budgeting processes more efficient, which in turn, will give our clients greater certainty when it comes to their legal costs."

“3E and Enterprise clients have been very receptive to the latest financial business intelligence developments at Elite, and we are thrilled that so many have already seized the opportunity to leverage 3E Financial Reporting and xcelerate in order to make better informed business decisions and amp up profits,” said Elisabet Hardy, vice president of Product Management at Elite. “Because both of the solutions are easy to navigate through their Web- and Excel-based environments, include rapid implementation processes that reduce setup time by up to 50 percent, and put near-real-time data at users’ fingertips, we anticipate many more clients making the decision to move ahead to a more profitable future in coming months.”

As a module that can be quickly added to the 3E platform, 3E Financial Reporting provides a system that is truly tailored for accounting professionals. 3E Financial Reporting enables staff to easily create, integrate, and maintain the reports they need without the help of IT. In addition, they can access up-to-the-minute insights on firm performance and trends without waiting for the nightly or month-end refresh. Visit 3E Financial Reporting for more information.

xcelerate Budgeting and Forecasting is a Web- and Microsoft Excel-based solution for the budgeting and forecasting of operating expenses, timekeeper revenue, employee compensation, and capital expenditures. xcelerate integrates with 3E and Enterprise and quickly plugs into human resources and payroll systems to push global assumptions from a firm-wide level down to the individual timekeepers and employees. Dashboards provide a single view into firm performance with drill-down capabilities and real time alerts to help protect profits and plan with greater confidence. Visit xcelerate for more information.

Elite is the leading global provider of an end-to-end enterprise business management solution, which allows law firms and professional services organizations to run all operational aspects of their firms, including business development, risk management, client and matter management, and financial management. For more information, visit Elite.