World Wide

Bloomberg Law acquires Dashboard Legal to revolutionize legal workflows with AI integration

Bloomberg Law acquires Dashboard Legal to revolutionize legal workflows with innovative software, enhancing efficiency and collaboration.

By Mackenzie Crow

5/15, 08:38 EDT
article-main-img

Key Takeaway

  • Bloomberg Law acquires Dashboard Legal, aiming to revolutionize legal workflows with enhanced digital services and AI integration.
  • Dashboard Legal's platform, known for improving collaboration and efficiency in law firms, will expand Bloomberg Law's product offerings.
  • The acquisition marks a significant step towards modernizing legal project management, with Mathew Rotenberg joining Bloomberg Law's leadership.

Revolutionizing Legal Workflows

The legal profession, known for its heavy reliance on managing vast quantities of sensitive information, has long been challenged by the inefficiencies of traditional project management methods. Mathew Rotenberg, a former lawyer turned CEO of Dashboard Legal, alongside co-founder Fedor Garin, recognized these challenges from firsthand experience. Their solution, Dashboard Legal, aims to streamline legal workflows through innovative software, a move that has recently caught the attention of Bloomberg Law, leading to an acquisition aimed at enhancing digital services for law firms.

Rotenberg, reflecting on his time in a major New York City law firm, noted the significant portion of a lawyer's day spent on process management. He highlighted the cumbersome nature of using email as a primary tool for managing the myriad of tasks and information lawyers handle daily. Dashboard Legal was developed as a response to this inefficiency, offering a more intuitive and modern workspace for legal professionals.

Enhancing Collaboration and Efficiency

Dashboard Legal's software provides a comprehensive overview of legal projects, enabling lawyers and their teams to manage tasks with greater ease and visibility. The platform allows for real-time collaboration, task assignment, deadline tracking, and seamless integration with popular document management and email systems. This holistic approach not only simplifies project management but also facilitates better communication among team members, regardless of their location.

Law firms that have implemented Dashboard Legal, such as Gunderson Dettmer, report significant improvements in adoption and positive feedback from attorneys. The software's ability to make workloads feel lighter and more manageable empowers lawyers to focus on the substantive aspects of their profession, enhancing productivity and job satisfaction.

Bloomberg Law's Strategic Acquisition

On April 9, 2024, Bloomberg Law announced its acquisition of Dashboard Legal, marking a significant expansion of its digital offerings to the legal industry. This acquisition aligns with Bloomberg Law's strategy to provide a comprehensive suite of products that leverage advanced technologies, including generative AI, to support attorneys' daily workflows. Joe Breda, President of Bloomberg Law, emphasized the acquisition's role in broadening their product lineup, which includes Bloomberg Law Contract Solutions, an AI-based system for legal contract development.

Mathew Rotenberg is set to join the leadership team at Bloomberg Law, focusing on driving the development of next-generation legal workflow solutions. This partnership between Bloomberg Law and Dashboard Legal is poised to transform the way legal work is conducted, offering law firms of all sizes and specializations a new horizon of efficiency and collaboration.

Management Quotes

  • Mathew Rotenberg, CEO of Dashboard Legal:

    "Dashboard Legal was really born from a pain I experienced seven years practicing big law in New York City." "If you look at the time lawyers spend on the process, just getting things from A to Z without things slipping through the cracks — it's a vast majority of their time. Lawyers were talking about managing the increased complexity and volume of information that they're responsible for, and [saying] that they need help. Eighty percent of the time they're spending during their day [goes toward] just trying to manage all the moving pieces." "Lawyers are using one tool for so many different types of needs. At the end of the day, the inbox is just one electronic filing cabinet of other people's priorities, and people engage in this daily routine of dragging and dropping and endlessly searching."

  • Naveen Pai, Chief Knowledge Officer at Gunderson Dettmer:

    "We deployed Dashboard Legal firmwide and the adoption and feedback from attorneys has exceeded our expectations."

  • Joe Breda, President of Bloomberg Law:

    "The addition of Dashboard Legal's powerful project management and collaboration software to our product lineup expands the breadth of our offerings, which enable attorneys to be more productive and efficient in conducting their most time-consuming everyday tasks. This acquisition dovetails with our vision of building a suite of products that combine our subject-matter expertise with advanced technologies such as generative AI to support attorneys' day-to-day workflow."