What Is a Legal Dashboard?
Legal dashboards are simply a means of organizing and displaying information. While dashboards have been used for years in other industries, the addition of dashboards as a legal management tool is relatively new.
Many law firms and other law related organizations have chosen a simple spreadsheet to show important information about cases. Spreadsheets can perform many calculations, and sort and filter data quite quickly.
However, spreadsheets do not work or look like traditional dashboards where information is displayed in graphical formats such as charts or gauges in a heads-up display format. Dashboards are typically made up of discrete blocks which can be text or graphics. Many dashboards are fully interactive , and when a user clicks an element of the display the application jumps straight to the relevant source material.
Dashboards can be configured with both graphical and text data easily extracted from a variety of sources, or they can be created as stand-alone applications. Dashboards can be standalone applications with no relation to any other software, or they can be part of a suite of tools. While commonly known as being used for business data, dashboards are being applied for a growing number of applications and areas of law.
Initially dashboards were used primarily by law firms to present information to lawyers, clients and other members of the bar, but increasingly dashboards are being created for the general public. For example, there are dashboards to track outcomes from individual courts over time. Dashboards are easy to use and are extremely informative to all users.
Must-Have Features of a Legal Dashboard
The landscape of legal management solutions has evolved rapidly, and at the heart of this evolution lies the concept of the legal dashboard. The integration of multiple functions into one cohesive solution is invaluable to the Executive or Manager looking to harness their data for actionable insights. A legal dashboard integrates and organizes real-time data into a single view tailored for the needs of its users. When designed and executed according to best practices, a legal dashboard has the following key features:
Data Description
The effectiveness of a legal dashboard is determined by the correct selection and implementation of the data it presents to its user. Data elements should include (but are not limited to):
Real-time Integration
We have always been strong advocates of real-time data integration. But in Building a Business Case for Legal Spend Management we discuss challenges that arise from disparate systems not providing real-time data. In a previous post we also highlighted some of these challenges, and explained how the integration of data from sources like contract management solutions, eBilling solutions, and time & billing platforms can provide a 360 degree view of the Legal Department.
Matter Management
No matter what legal project management platform you are using, your dashboard is central to managing matters. From tracking the status of work to tracking invoices, the dashboard is integral to matter management.
Document Management
Contracts, pleadings, and agreements to name a few, often become lost. Document management provides centralized access to all documents related to a case or matter. Contracts on legal spend, or correspondence with outside counsel are example of documents with which every matter needs to interact with.
Workflow Automation
As the legal world progresses into the future, we are progressively drowning in the volume of data created. Every external request, invoice, and document is normally only available through traditional means of access (through email or sometimes in print). But a well designed legal dashboard organizes and automates workflows to facilitate efficiency. Being able to identify case milestones, flag overdue invoices for action, or alert you when a contract is up for renewal is the power of workflow management.
Analytics
There is growing demand for integrating analytical capabilities into the dashboard. From matter management analytics to elevated insight into legal spend, being able to visualize this data empowers the Legal Department to make better decisions sooner.
The Key Benefits of Legal Dashboards
Dashboards provide a number of benefits that legal professionals can leverage for enhanced productivity, case management efficiency, and overall transparency in legal operations. Here are six key advantages:
1. Enhanced Resource Management
By consolidating all of your legal data in one place with a dashboard, you gain a more complete overview of the resources that are available to you and where there may be opportunities for improvement. For example, why should you have five contracts attorneys when two would do the same job? No longer will separate copies of spreadsheets and documents force you to take time to sort through files only to discover critical resources are lying around without proper attribution.
2. Improved Portfolio Management with a Flexible and Resilient Environment
There are many ways you may want to save or use the information captured in a dashboard. From reporting on performance or assessing your historical legal needs to using it for predictive analysis, these tools offer a flexible and resilient environment for adding new functionality (such as spreadsheets and graphics) to your data.
3. Better Visibility into Your Portfolio
Having all your data in one place allows you instant access to your portfolio without having to search several different programs or storage locations. This provides you better visibility with greater speed to provide information to clients, internal stakeholders, and vendors.
4. Increased Client Satisfaction
Clients appreciate getting updates on their matters in real-time. They appreciate learning about their legal position and potential opportunities. They may appreciate better forecasting for budgeting.
5. Efficient Communication
A legal dashboard offers a way to not only automate communications to clients but also provide a baseline for accurate reporting on compliance and other issues. This is helpful when feedback and insights do not have to come through several levels of management; you can simply share the dashboard data.
6. Reduction of Time Spent Searching for Data
The more client-facing work you can focus on—as opposed to looking for the statuses and other aspects of matters—you can take on more work without increasing costs.
Tips for Choosing a Legal Dashboard
When it comes to enhancing legal management, choosing the right legal dashboard involves several factors. You should assess its user-friendliness and the extent of how much customization it will allow. If you’re using the dashboard for all law firm billing or paralegal task management, you need a product that can easily accommodate various data sets and display them to suit your needs. Equally significant is evaluating how easily the dashboard integrates with your existing systems. If you’ve purchased a product that helps you identify client billing discrepancies, for example, but you can’t quickly update the system with the corresponding information, then you haven’t chosen a solution that improves your overall legal management efficiency. Factor in enterprise solutions to see if any can help you get the most out of your legal dashboard.
Vendor support is yet another element of a legal dashboard that you should examine before making a purchase. Some vendors include a dedicated technical support staff whose responsibility is to help make the program work best for you. The installation and ongoing product support are important to this end. Many vendors also have different licensing arrangements, which might include a support package in the purchase or charge for it separately. It pays to ask about customer support before buying a legal dashboard.
Getting Started With a Legal Dashboard in Your Firm
The implementation of a legal dashboard is not a singular event but a process that spans a lengthy period of time and one that has many subtasks. A comprehensive proposal for implementation of the legal dashboard should include:
If time and budget allow, the assessment of the information needed to address the data requirements should begin no sooner than 6 to 8 weeks prior to implementation and continue through the implementation process. It should involve active communication and interaction with the stakeholder groups. It should be thorough, but not unnecessarily long, or cumbersome .
Implementation involves not only the actual development, but also comprehensive testing of the dashboard as part of the process. (See Testing a Legal Dashboard) Like the BCG Matrix, the dashboard is a work in progress that must be tested and adjusted before it is rolled out. The dashboard must be able to meet all requirements regardless of the size of the data.
The training of the users of the process and the information induction of the dashboard constitute the final finalization of the existing dashboard. It may take several forms, from an all hands training session to department specific training.
Why Legal Dashboards are So Successful
The benefits of legal dashboards are not merely theoretical or anecdotal – there exist real-world success stories that illustrate the tangible advantages of implementing dashboards in legal practice.
Law Firm A used dashboards to reduce the lag time from request to response by 50%. An international law firm poised to take on "bet-the-company litigation" contacted a legal dashboard provider to help them find a way to transform their growing number of case management spreadsheets into something more useful to all stakeholders. They wanted a single source of data that everyone could access and that would allow their clients to have real-time access to the status of litigation, costs, and legal opinions. The hours of time spent each week in legal teams copying information from one spreadsheet to another was unacceptable to this team, and the lack of uniformity in the spreadsheets was a constant source of pain and lost confidence. The dashboards were created in fairly short order, and were made available to all stakeholders, including the Firm’s clients. A single intuitive web portal provided a universal solution for attorneys, paralegals, clients and executives. Everyone who needed this information now had it in real-time, and it served to inform decisions at every level of the process.
Law Firm B used dashboards to reduce manual reporting time by 75%, and to recover an average of $500k per month. This mid-sized regional firm handles a busy insurance defense docket, serving the needs of multiple insurance companies as referrals of cases. Managing the workflows associated with this portfolio of cases is a significant task for the Operations team. Each case needs to be tracked from request to final outcome. To provide client quality, analytics, and billing data, these attorneys must conduct manual research on each case, resulting in a work product that is hours of effort. Their request for efficiency resulted in a set of dashboards that fully transformed their ability to deliver excellent service in the context of a strictly managed workflow, without the previous investment of time and effort. The time originally devoted to preparing reports is now used to make important decisions about settlement, depositions, trial strategies, and other essential elements of the practice. The dashboard application allows for full visibility into case data and gives instant access to all parties involved, including paralegal teams and clients. They have calculated that they save an average of $500,000 of write-off every month as a result of having a clear picture of their caseloads.
Law Firm C used dashboards to increase market share by 10% in 6 months. This large, multinational firm had invested significant time and money into developing a highly sought and established IP practice, encompassing patent, trademark, and copyright issues. They began developing a loyal client base and were building momentum when their leaders discovered that another, smaller firm in a similar location was gaining traction in the marketshare for mid-range to large high-tech clients. Rather than press forward in the "done but not effective" mode that they had been using up until now, their lead attorney for this specialty decided to invest in their dashboards to see if they could gain a much clearer picture of their client-facing activities. Now they have total insight into their total pipeline, including monetary value and positioning. They found that they were losing market share in the medium size sector ($10MM – $25MM businesses). They redirected their focus and began to scoop up the medium size accounts, increasing their market share by 10% in 6 months.
Dashboards have a wide variety of applications in the legal industry. While no two law firms are alike, legal dashboards can improve virtually any practice area or specialist through the use of modern data analytics.
The Future of Legal Dashboards
The landscape of legal dashboards is poised for transformative innovation, leading the field into a new era of operational excellence. Advancements in areas such as artificial intelligence (AI), machine learning, and predictive analytics continue to drive the capabilities of legal dashboards beyond traditional metrics, unlocking a wealth of insights into strategic legal decision-making.
AI and machine learning are central to these developments, helping organizations predict legal outcomes and assess risk with greater accuracy. For instance, sophisticated algorithms can digest and analyze previous contract outcomes to determine the most favorable terms for future negotiations, or assess the success rate of litigation strategies in similar circumstances. This level of predictive capacity allows organizations to craft more effective and efficient legal strategies, potentially saving both time and money.
Predictive analytics is another growing focus in the development of legal dashboards . By harnessing massive datasets, organizations can uncover trends and patterns that help to identify areas of high risk and anticipate issues before they become critical. This allows legal departments to allocate resources more efficiently and prioritize issues that require immediate attention. Moreover, these predictive models are continually refined as new data becomes available, leading to increasingly accurate forecasts over time.
Another trend is the evolution of customizable dashboards, empowering teams to tailor their tools to specific needs and individual preferences. As dashboards become more intuitive and flexible, lawyers can more easily monitor and analyze relevant metrics, improving their ability to manage cases, assess risk, and drive strategic decisions.
As we look to the future of legal dashboards, it is evident that the integration of these technologies will continue to revolutionize the legal industry. With the ability to provide deeper insights into trends and predictions, legal dashboards are set to further enhance the management of legal operations, creating greater efficiencies and delivering smarter decision-making.