Document and Matter compliance for law firms can be a complex and challenging issue. How can law firms protect themselves from potential risks?
Data cleansing and deduplication
Establishing the shape of a firm’s data in the document management system (DMS) is one of the key challenges faced by law firms, especially those without a formal DMS archiving or retention policy in place. Additionally, without deep understanding of the organisations needs for managing electronic content, and an understanding of the structure of underlying data, it is extremely difficult to carry out archiving and deletion tasks in a targeted way, as well as retrieval of archived contents accurately and efficiently.
Compliance concerns:
Adhering to legal and industry regulations regarding data retention and disposition such as GDPR can be complex, especially with large volume of data, and diverse document and work types. Without robust data governance practices in place, and a flexible DMS archiving system to support such practices, law firms will face huge challenges to demonstrate their processes align with the legal requirements when it comes to managing client files, handling litigation documents, or communicating with regulatory bodies.
Governance and Compliance checks:
Law firms must have the ability to analyse archived documents against legal retention policies to identify potential compliance issues. Without an adequate DMS archiving system in place, Compliance Managers lack the visibility of immediate updates on when documents and matters are due to be archived. This poses a significant risk of not being able to present to auditors when required on the firm’s governance and compliances checks.
Cloud Data volume management:
Recent trends suggest that law firms are ready to embrace the capabilities of the Cloud DMS platforms. However, handling large volumes of data, especially when dealing with long-term archiving needs, can put strain on Cloud storage capacity, system performance as well as push up Cloud storage costs.
Need assistance with your document and matter compliance challenges? Contact info@bluecartechnologies.co.uk to book a consultation or DMS Archiver demo.
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