We are at high risk of being immune to security breaches. With new security infringements grabbing the headlines on almost a daily basis, time and again one hears IT Directors and departments resignedly admit that a security breach is a matter of when, not if. At the same time, regulation is increasing with the risk of financial penalties due to non-compliance – the GDPR is an example.
Check out the latest trends and innovations in the legal technology world
When your technology supplier provides you with a cost quote for a piece of work, which includes a line-item for project management, do you immediately think, “I can save X% of the budget by declining this service?” You are not alone.
Perhaps unsurprisingly, given the increasingly ‘deadline’ driven business environment that we operate in, recently we are receiving a fair number of queries from customers and prospects enquiring about solutions that can help them with a best practice approach to task management. At the recent iManage ConnectLive 2018 event in London too, the majority of our conversations centered around this issue.
Automation is a hot topic in the legal industry and 2018 really seems to be the year that firms are investing significantly in automation technology. Even though the benefits of automation are numerous, Briefing’s Legal IT Landscapes 2018 report found that there is a lot of ground to be made up when it comes to making it a reality for staff.
Human resource (HR) departments typically generate and handle copious volumes of paperwork – employment contracts, appraisals, policies, employee handbooks, forms, templates and the list goes on. These documents contain some of the most sensitive and confidential personal data that an organisation might hold. Of course, many departments in large organisations deploy HR software such as PeopleSoft, but these systems are designed to manage data, not documents or emails.
A recent piece of research shows that 42% of IT security incidents are caused by employee actions and 74% originate from the extended enterprise – i.e. customers, suppliers, etc. Furthermore, it is noteworthy that 40% of businesses are seeing security incidents rising since 2015, with hacker threat down to 26% in 2017 – from 33% in 2015.
Should good quality service come at a premium? And does a premium price guarantee a top-notch service from the technology provider? To provide some context to these ruminations, with a move towards value-based pricing, law firms today are having to justify their fee rates, especially if they are charging more than their competition. Most commonly, they validate fee rates based on their depth of experience and skills on the subject matter areas and the quality of service. This instils confidence in customers that they will be well represented and served by the law firm in question vis-à-vis any other legal services provider. So, shouldn’t the same criteria be applied to the pricing and quality of service provided by technology providers offering Support services?
Recently, we have witnessed a renewed interest for contract management in corporate legal departments. The benefits of this function to legal departments are inarguable – it delivers time savings and tangible operational efficiency. Given the variety of contracts that businesses enter into with internal and external stakeholders, suppliers, partners, outsourcers and so on; an automated approach helps manage these documents across their lifecycle – from contract assembly through to termination.
Digital transformation has become a fashionable buzzword in recent months, but to my mind it is about targeting specific areas of the organisation to ensure that business processes and standard procedures are adhered to as a matter of routine, which in turn contribute to efficiencies.
The frustration of legal departments when trying to secure budget from the business for legal-specific solutions is an open secret. Typically, in corporate organisations, the IT department holds the overall budget for technology and so has the final say in what tools the legal department can deploy. Invariably, due to a lack of understanding of the requirements of the lawyers, IT departments prefer to deploy solutions that they believe will be beneficial to the whole organisation – from an adoption, cost, implementation, maintenance and user benefit perspectives.