Why “Good Enough” isn’t Good Enough for Modern Information Governance Management

Sticking with outdated, “good enough” software technology for records management not only increases your firm’s risk but increases costs exponentially.

Without a comprehensive view of all of your information assets, information governance is approximate at best. As the saying goes, “You can’t govern what you can’t see.”

Modern Information Governance includes a “full suite” approach to provide a central, transparent view of your data across physical and electronic repositories — so that you may manage and automate the full information governance lifecycle of the record which significantly reduces risk and contains costs.

For years, law firms have been aware of the need to mitigate risk against physical and electronic records. What data exists, where it lives, and how it’s managed against internal policies, outside counsel guidelines, and governmental regulations increases risk for every firm. It demands a solution that is purpose-built with features and workflows to meet these needs. This is what FileTrail does, and what our focus is.

For over 20 years, FileTrail has proven we can automate these processes and deliver a return on investment on IG. As a complete information governance solution, FileTrail enables organizations to meet urgent client demands, pass audits, conduct a client audit response across multiple repositories, address outside council guidelines, and address new compliance rules with a modern approach.

With the recent Teravine IG software acquisition, we are able to provide our clients throughout North America, the UK, and Europe with the very best IG solution available on the market today. This includes an intuitive dashboard environment, sophisticated, clean and simple automated workflows, and connectors to other records management solutions such as OmniRIM (sunsetting Sept. 2022), LegalKEY, iManage, and Thompson Reuters Elite solutions. This flexibility is a game-changer for the market and the company.

Use Case Example

One Am Law 25 firm with over 2,000 fee earners managed over 300 lateral moves and destroyed over 3 million documents globally from their data management solutions and file shares in one year.

This activity was completed in parallel with a very large destruction of their physical records. Automating these features in a single solution delivers high value, significant productivity benefits, and savings for the firm.

Physical records management and IG remains a challenge for law firms and large enterprises, particularly those in highly regulated industries. The concerns expressed by their CIOs and other firm leaders are driving many law firms to adopt a more holistic approach to Information Governance and records management. This means selecting the right tools and processes for full life cycle management of both traditional and emerging data forms.

There’s a reason FileTrail has been leading the way for 20+ years, and it all comes down to experience, customer service, and excellence. Stay on track with FileTrail — we’ll help you get there.

* This article was first published in the Briefing Frontiers Report 2022.
Written by Mary McKeown-Christie and Jon Roscow, FileTrail.