Information governance and compliance risks
In recent years, law firms have faced major challenges and risks in managing physical and electronic records:
- Clients specifying strict retention policies in outside counsel guidelines
- A growing volume of electronic records across multiple repositories — from document management systems and file shares to email and other business applications
- Aging physical records in offsite storage — costly to store and difficult to track
- Managing confidentiality and access to sensitive client matter information
- Lack of support for legacy records tools such as LegalKEY
- Failure to implement effective information governance exposes firms to security, litigation and compliance risks, not to mention the reputational risks associated with data breaches or other violations of regulatory rules.
Now, with more employees than ever working remotely, firms are also contending with new questions: Is it OK for employees to print client matter documents at home? And perhaps more urgently, are employees and clients using Microsoft Teams to collaborate in compliance with firm and client policies?
FileTrail can help. We regularly work with leading law firms to streamline and modernise how they manage their physical and electronic records for significant cost savings. For your electronic information, we offer integration with document management systems such as NetDocuments, with file shares, and now with Microsoft Teams, so you have visibility into all information repositories across your organisation. Tracking and applying retention policies — and approving records for disposition when the time comes — is easier than ever with FileTrail’s automated workflows.