Every organization has contracts, but not every organization adequately manages its contracts. And while the nature and complexity of these agreements can vary widely, careful governance enables organizations to maximize their value and limit their exposure.
No law firm in 2019 needs to be masking text instead of properly redacting it. The days of running a black marker over a hard copy and scanning it back in to create a new soft copy should be long gone. The modern equivalent – drawing a black box over content in Microsoft Word and converting to PDF – shouldn’t be far behind it, either. Why? Because PDF redaction solutions are widely available, reliable, and efficient.
Improper redaction is a leading source of data breaches globally. In many countries, lawyers have a legal obligation to redact all kinds of confidential information prior to filing court documents – including financial account details, names of minors, home addresses, and dates of birth.
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.