My continuous involvement in the digital transformation and digitization of law firms (small and medium-sized) in Spain, allows me to confirm to you the permanent eagerness to become more productive from the IT point of view. The increase in the volume of data handled and the (ever-increasing) digital education of young lawyers and clients, hasten the need to implement applications and secure the technological environment. The goal is to spend less time on low value-added or non-billable tasks.
A ransomware attack (encryption of content in exchange for a reward) paralyzes an office until the backup is lifted to see if it is sufficient. An application allows to classify, sort and index all the documentation of a 350 GB Due Diligence. These are clear examples of LegalTech helping to increase billable hours.
Cybersecurity boosts productivity in law firms
Today I will talk about how good cybersecurity makes an office more productive.
An attack on a law firm’s IT security can represent between 5,000 and 10,000 €/hour due to the loss of goodwill, trust, business, time spent resolving the incident, hiring of experts and even fines (e.g. RGPD).
These can be intentional attacks carried out by humans or, more often, by machines working for people looking for vulnerabilities on a large scale. Let’s get away from the typical “Why would they attack my office if it’s small?”. The answer is clear: because a machine can locate it and exploit the sensitive data of your customers and employees, and this should not be disclosed under any circumstances. Any improvement in the security of a law firm is important.
But how much time and effort do we spend on lost or stolen equipment? How long does it take us to determine what information a professional who decides to go to a competitor has taken with him or her? What about negotiating with another party to gain access to data about a file or profile hosted in a public domain, low security environment (e.g. Dropbox Public)?
Digital tools that help lawyers
With good tools and measurements, you can spend more time on your customers’ problems. To this end:
- Invest some time in writing protocols and procedures.
- Subsequently, it identifies and purchases the suitable applications .
- Finally, focus on defending your client and increase the budget for it.
You will transmit innovation; if you have attacks or incidents you will be able to prevent them and be operational in less time. Avoid fines, hassles and time spent on tedious or non-competent topics.
Álvaro Fernández de Araoz – CEO of Correcta