It is fascinating to see how electronic documents are evolving smartly across the legal industry. A lawyer’s information environment is rapidly changing with disrupting technology becoming available overnight, and so too the challenge of securing precious data.
Law firms are constantly looking for more cost-effective ways to manage their compliance risks when archiving their clients’ matters. Most lawyers understand that both electronic and paper records should be retained for a minimum period (for example seven years) before it can be securely destroyed, which means a huge operational costs over a long period of time.
These archiving costs are further compounded when information is stored in digital formats, because the physical and online (cloud) storage capacity expands constantly to keep up with the growing number of documents and emails being added daily. Unfortunately, the sensitive information held by law firms is also a prime target for cyber-attacks. The rising costs of cybersecurity, electronic record management systems, eDiscovery tools and data analytics are all putting financial pressure on ever shrinking operational budgets.
Going paper-less has many advantages for law firms too. Physical files can now be electronically available at your fingertips in minutes with rapid digitisation tools. This empowers lawyers to make better use of eDiscovery tools to detect hidden information in metadata. Electronic records can also be automatically scrubbed of personal identifiable information, formatted for long-term preservation, and issued with tamper-proof certifications (blockchain).
As the saying goes better safe than sorry, we recommend the 3-2-1 data backup strategy to law firms as the best practice to keep clients’ data safe in cyberspace.
- Make at least 3 copies of your data, for example an original copy and at least two backups.
- Store the backups on 2 different storage media types, such as external hard drive, online (cloud) service, or paper.
- Keep at least 1 backup stored offsite, for example store your paper files in secure and environmentally controlled facility, because hard drive devices will fail eventually.
Fileman’s Global Sales Director, John van Rooyen says, “You cannot ransom paper – making paper archiving the best form of protection for your sensitive documents, the gold standard defence against cyber-attacks and the most reliable medium for long-term securing of information. In our digital economy, firms are finding compliant ways to archive more efficiently. That is good news for those looking for a disbursable way to reduce the cost of physical and electronic records management.”
Do you want to know how you can have all these benefits and none of the costs? Call us today for your no obligation free consultation and follow ‘Fileman Australia’ on LinkedIn to learn more about excellerating your digital transformation journey.