While third-party suppliers bring many positive opportunities to law firms and other professional services businesses, they also come with risks, given their potential access to firms’ and their clients’ most sensitive data.
In 2011, “cloud” was the latest buzzword in the document management space. However, misconceptions about the cloud, such as it was storage only or that it wasn’t secure, kept many organizations from considering it in their strategy.
When it comes to choosing the right search reports for a property transaction, it is important to fully assess the requirements of each case to ensure the correct levels of risk assessment are undertaken at the outset.
An increasing number of legal firms are looking to the cloud to deliver cost-efficiencies and flexibility, and many are becoming more confident with providers’ IT security and datacentre compliance capabilities.
Compliance with laws and regulations such as the GDPR, anti-money laundering laws and other regulatory requirements are all crucial, and you must be confident you and your firm are managing the responsibilities appropriately.
With many firms now adopting a ‘cloud first’ strategy, and with so many cloud options available, firms must ensure that the IT strategy fits in with the business strategy, therefore future-proofing their firm and driving real bottom-line value.
Given the highly sensitive nature of the data held on individuals and companies by legal firms, solicitors’ practices and barristers’ chambers often find themselves targeted by cybercriminals keen to access their systems, download their data, and sell it to the highest bidder.