evolution of records management in law firms

Evolution of Records Management in Law Firms

Thought Leadership Webinar Series

Objectives

• Understand how RM has changed

• Define IG and it’s impact on law firms

• Implement an IG Program that actually works

Why is RM Important

What Matters

• ACCESS - Lawyer and Staff productivity and Client Service

• SECURITY - Protect client and firm data

• COMPLIANCE - Adhere to Ethical & Legal Requirements

• COST - Operational cost pressures throughout the industry

The Good Old Days

What has Changed

What has Changed

• Increased Lawyer Mobility

• Records Management is Outsourced

• Volume of Data

• Dispersion of Data - offices, devices, repositories, formats

What is Information Governance?

IG is…

• An enterprise-wide approach to the management and protection of a law firm’s client and business information assets.

• An effective program enables lawyers to meet their professional responsibilities regarding client information, recognizes an expanding set of regulatory and privacy requirements that apply to firm and client information, and relies upon a culture of participation and collaboration within the entire firm.

IG is…

The specification of decision rights and an accountability framework to encourage desirable behavior in the valuation, creation, storage, use, archival and deletion of information. It includes the processes, roles, standards and metrics that ensure the effective and efficient us of information in enabling an organization to achieve its goals.

IG is…

A strategic framework composed of standards, processes, roles, and metrics that hold organizations and individuals accountable to create, organize, secure, maintain, use, and dispose of information in ways that align with and contribute to the organization’s goals.

IG is…

IG = Opportunity

Why Now?

Over 60% of respondents indicated that eligible ESI is not regularly deleted

Only 5% of respondents reported automated disposition processes for all their collaboration tools (e.g. project sites, SharePoint), while 62% had no automation or did not know

Less than 10% of respondents considered management of “new media and locations” (e.g. cloud services, mobility, social channels) at their organization mature

Only 8% of respondents report that records management metrics at their organization are mature

Only 12% indicated that records management planning is integrated with application decommissioning

Why Now?

In December, 40M Credit Cards were hacked

Invested $100M into chip-enabled card technology, implemented in 2015

Has $100M insurance coverage but potential loss may exceed $1B

Investors need to keep close eye on data breach investigation before investing

Why Now?

71% have no idea of the content in their stored data

58% are keeping information indefinitely

79% spend too much time and effort manually searching and disposing of information

58% still rely on employees to decide how to apply corporate policy

Implement an IG Program that REALLY

Works

Easy as A - B - C

A

•Assess Current State

B

•Build Your Program

C•Control Change

Assessment of Current State

Information Risk

Identify Internal IG Requirements

Highly Regulated or Not?

Knowledge Management

Corporate Culture

Other Business Factors

SWOT Analysis

Build Your Program

Identify Key Stakeholders

IT, RIM, CIO, GC, COO, Managing Partner

Obtain Executive Sponsorship

Development Roles/Responsibilities for your Key Stakeholders

Adopt a Vision

What is your goal for the next 3-5 years?

Define steps to take to meet your business goals

And Don’t Give Up!

Analyze Internal Drivers

Corporate Culture

Current Business Plans

Financial constraints

Analyze External Drivers

Technology Trends

Industry Best Practices

How you “Stack Up” with your competition

Policy & Procedure

Clearly define the scope of your policies and procedures to ensure all information is managed throughout the enterprise

Communicate Your IG Program

Consider who will be impacted by the new policies and procedures

Knowing all parties that will be affected helps determine the means by which you communicate

Customize your message for IT, Legal, Business, etc.

Outline Goals of the Program

Training

Classroom Instruction

Online Learning

Series of Training Videos

Be Consistent

Add to New Hire Program

Control Change

Mergers & Acquisitions

Technology

• Barcode & RFID Tracking

• Predictive Coding

• Big Data

• Cloud

Laws and Regulations

What Were Trying To Achieve?

Reduce Risk

Ensure Compliance

Maintain Security

Retain Properly

Dispose Consistently

Who Leads The IG Charge?

Chief Information Officer

General Counsel

Chief Operating

Officer

Managing Partner

Records Manager

IT

References

• Law Firm IG Symposium – Iron Mountain http://programs.ironmountain.com/forms/LawFirmIGSymposiumReport

• Robert Smallwood – IG Concepts, Strategies & Best Practices http://www.wiley.com/WileyCDA/WileyTitle/productCd-1118218302.html

About FileTrail

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HQ in San Jose, CAEast Coast:

Washington DC

Founded in 2000Over 20 years of URM Experience

Jim Merrifield, IGP, CIP

Phone: (646) 584-7687Email: JMerrifield@filetrail.comTwitter: @jimerrifield @FileTrailWeb: www.FileTrail.comBlog: www.infogovmode.com