ILTACON 2017 was a huge success! FileTrail’s team met with clients, consultants, and law firms of all sizes throughout the conference. We were busy all day, every day, doing demos. Some people got to see FileTrail’s records management software in-action for the first time, while many dropped by to see a preview of our latest upgrades.
Firms today do not have systems that manage and process their retention policies or outside council guidelines (OCG) when it comes to disposition of old data. As a result, they continue overspending on of electronic documents and physical records past their destruction dates. Even worse, they are subject to unnecessary risk from the inconsistent application of their stated retention policies.
Law firms everywhere are now looking to replace LegalKEY because they’re paying annual support but they’re not getting any new product features or upgrades. The risk to firms in keeping older systems like LegalKEY is significant. However, some firms have been reluctant to upgrade their records management software because they don’t want to give up useful features.
Next week, May 22nd, we’ll be at the NetDocuments Elevate Summit in lovely Park City, Utah discussing important changes law firms are making to their records management technology. One of the biggest is with their NetDocuments Workspaces. Did you know it’s possible to deploy records management software that features full integration?
We’re excited about attending the upcoming Intapp Inception, San Francisco conference May 15th – 18th, 2017. The agenda promises many interesting discussions about the latest innovations in reco
According to the Bureau of Labor Statistics, ever since the economic downturn of 2008 more than 10,000 jobs have been eliminated from the top 250 U.S. law firms. Translation? To stay successful, those who are left need to work smarter. In today’s competitive environment, record managers at law firms need to find opportunities to demonstrate their value. One of best ways to shine is by finding a replacement for their firms’ information governance systems.
Outdated records management software has become a high-profile problem for law firms of all sizes. Not only are many systems being sunsetted, others simply no longer meet law firms’ extensive paper and electronic governance needs. This situation puts many CIOs in a bind. Change is tough. And finding records management software that is easy to use by both technical and non-technical folks alike can be daunting. Faced with so many options, it’s sometimes easier to ignore the problem altogether.
Business Intelligence, or BI, is a concept that usually involves the delivery and integration of business information in an organization that can be useful for making decisions. Every organization has multiple departments, and each database may only contain information that is relevant to its own department. Business Intelligence involves the use of customer information, sales data, statistics, product movement, profitability, etc. Companies use BI to detect significant events and identify and monitor business trends in order to adapt quickly to their changing environment and a scenario. If you use effective business intelligence training in your organization, you can improve the decision making processes at all levels of management and improve your tactical strategic management processes.
While involving the CFO in valuing your company’s data may not seem like a top priority, doing so will better demonstrate your organization’s overall corporate wealth to the board and investors. Even non-economic indicators of information value, quality, and performance can help IT organizations and business in managing and leveraging information. According to a presenter at the AIIM meeting, the average tangible assets of a corporation represented 83% of its actual value in 1975, however, today that number is just 20%. Organizations that are persistent on becoming information-centric, as well as those that have information-based business models, should make sure to audit the actual and potential value of their information assets.