Evolution of Records Management
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Records Managers within Law Firms have a tough job, providing and enforcing policies, building out defensible procedures and overseeing an information lifecycle program. Over the years process has changed, regulations have been tightened and expectations have heightened. In this presentation, understand how Information Governance (IG) is playing a major role in the evolution of Records Management within Law Firms. Information Governance is a term being thrown around and many (or at least those brave enough to admit it) are unsure of what it really means. IG relies on automation, systems, tools and compliance to succeed. With records managers focus on risk avoidance, join us to better understand the new expectations of records managers to protect your firm as well as steps to implementing an IG Program.
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Evolution of Records Management
- 1. Evolution of Records Management in Law Firms Thought Leadership Webinar Series
- 3. Objectives • Understand how RM has changed • Define IG and it’s impact on law firms • Implement an IG Program that actually works
- 4. Why is RM Important
- 5. What Matters • ACCESS - Lawyer and Staff productivity and Client Service • SECURITY - Protect client and firm data • COMPLIANCE - Adhere to Ethical & Legal Requirements • COST - Operational cost pressures throughout the industry
- 7. The Good Old Days
- 9. What has Changed • Increased Lawyer Mobility • Records Management is Outsourced • Volume of Data • Dispersion of Data - offices, devices, repositories, formats
- 11. IG is… • An enterprise-wide approach to the management and protection of a law firm’s client and business information assets. • An effective program enables lawyers to meet their professional responsibilities regarding client information, recognizes an expanding set of regulatory and privacy requirements that apply to firm and client information, and relies upon a culture of participation and collaboration within the entire firm.
- 12. IG is… The specification of decision rights and an accountability framework to encourage desirable behavior in the valuation, creation, storage, use, archival and deletion of information. It includes the processes, roles, standards and metrics that ensure the effective and efficient us of information in enabling an organization to achieve its goals.
- 13. IG is… A strategic framework composed of standards, processes, roles, and metrics that hold organizations and individuals accountable to create, organize, secure, maintain, use, and dispose of information in ways that align with and contribute to the organization’s goals.
- 14. IG is…
- 15. IG = Opportunity
- 16. Why Now? Over 60% of respondents indicated that eligible ESI is not regularly deleted Only 5% of respondents reported automated disposition processes for all their collaboration tools (e.g. project sites, SharePoint), while 62% had no automation or did not know Less than 10% of respondents considered management of “new media and locations” (e.g. cloud services, mobility, social channels) at their organization mature Only 8% of respondents report that records management metrics at their organization are mature Only 12% indicated that records management planning is integrated with application decommissioning
- 17. Why Now? In December, 40M Credit Cards were hacked Invested $100M into chip- enabled card technology, implemented in 2015 Has $100M insurance coverage but potential loss may exceed $1B Investors need to keep close eye on data breach investigation before investing
- 18. Why Now? 71% have no idea of the content in their stored data 58% are keeping information indefinitely 79% spend too much time and effort manually searching and disposing of information 58% still rely on employees to decide how to apply corporate policy
- 20. Implement an IG Program that REALLY Works
- 21. Easy as A - B - C A •Assess Current State B •Build Your Program C •Control Change
- 22. Assessment of Current State
- 23. Information Risk
- 24. Identify Internal IG Requirements Highly Regulated or Not? Knowledge Management Corporate Culture Other Business Factors
- 25. SWOT Analysis
- 28. Identify Key Stakeholders IT, RIM, CIO, GC, COO, Managing Partner Obtain Executive Sponsorship Development Roles/Responsibilities for your Key Stakeholders
- 29. Adopt a Vision What is your goal for the next 3-5 years? Define steps to take to meet your business goals And Don’t Give Up!
- 30. Analyze Internal Drivers Corporate Culture Current Business Plans Financial constraints
- 31. Analyze External Drivers Technology Trends Industry Best Practices How you “Stack Up” with your competition
- 32. Policy & Procedure Clearly define the scope of your policies and procedures to ensure all information is managed throughout the enterprise
- 33. Communicate Your IG Program Consider who will be impacted by the new policies and procedures Knowing all parties that will be affected helps determine the means by which you communicate Customize your message for IT, Legal, Business, etc. Outline Goals of the Program
- 34. Training Classroom Instruction Online Learning Series of Training Videos Be Consistent Add to New Hire Program
- 35. Control Change
- 37. Technology • Barcode & RFID Tracking • Predictive Coding • Big Data • Cloud
- 39. What Were Trying To Achieve? Reduce Risk Ensure Compliance Maintain Security Retain Properly Dispose Consistently
- 40. Who Leads The IG Charge? Chief Information Officer General Counsel Chief Operating Officer Managing Partner Records Manager IT
- 42. References • Law Firm IG Symposium – Iron Mountain http://programs.ironmountain.com/forms/LawFirmIGSymp osiumReport • Robert Smallwood – IG Concepts, Strategies & Best Practices http://www.wiley.com/WileyCDA/WileyTitle/productCd- 1118218302.html
- 43. About FileTrail 450 Clients and 20% Annual Growth North America: 80% Europe: 20% APAC & Africa Information Intelligence Leader in Management, Asset Tracking and process improvement HQ in San Jose, CA East Coast: Washington DC Founded in 2000 Over 20 years of URM Experience
- 44. Jim Merrifield, IGP, CIP Phone: (646) 584-7687 Email: JMerrifield@filetrail.com Twitter: @jimerrifield @FileTrail Web: www.FileTrail.com Blog: www.infogovmode.com
Hinweis der Redaktion
- Welcome Everyone to our Thought Leadership Webinar Series. My name is Jim Merrifield and I will be leading todays webinar focusing on “Evolution of Records Management in Law Firms”. A few housekeeping items before we begin – please submit any questions you may have through the messaging feature. I will answer them at the end of the presentation. If time expires before I get to your question. I will be sure to contact you by email. As a reminder, we will choose a winner for the iPad Mini. The winner will be contacted via email immediately following the webinar. In order to remain eligible, you must remain on the line for the entire presentation.
- A few fun facts about myself. I like using pictures for my bio slide, much less boring! I am an Information Governance Evangelist at FileTrail. Some of you may be thinking, what does that exactly mean? Well, In 2009 while working at Finn Dixon & Herling LLP (a Stamford, CT based law firm), we selected FileTrail as our Automated Records Management Solution, enabling us to locate, manage and govern all information across the enterprise. Now, five years later, I assist our global sales and marketing team by educating the world about how awesome our product is, helping other organizations accomplish the same. In addition, I provide IG thought leadership to the industry through webinars, presentations, white papers, blogs and social. I’m also an IGP, CIP and hold many AIIM certificate designations including ERM, SharePoint and Taxonomy and Metadata. I’m very active in industry organizations such as ARMA, AIIM, ILTA and currently serve as President of the ARMA Connecticut Chapter and Co-founder of The Information Governance Conference. Well, enough about me. Lets dive in.
- I came up with 7 major reasons as to why Records Management is Important. I’m sure there are more. Controls the Creation and Growth of Records Reduces Operating Costs Improves Efficiency and Productivity Ensures Regulatory Compliance Minimizes Litigation Risks Supports Better Management Decision Making Preserves Corporate Memory
- Keeping Lawyers happy. I’m sure that you would agree that this matters most.
- It used to be relatively simple. As a Records Manager we were hired and asked to clean up the paper mess. Which included an conducting an inventory of what we had. Creating policies, procedures and finally a retention schedule. Then organizing the paper into files and boxes then either keeping the files onsite or sending off-site. The process was not easy but very straight forward.
- So what has changed. Well pretty much everything. In 60 seconds all this information chaos happens. Email, Voice Mail, Blog Posts, Tweets, Comments, Videos. We can go on and on. The bottom line is that all of this information needs to be dealt with and managed.
- What else has changed? Increased Lawyer Mobility Tremendous increase in lawyers moving in and out of firms. It used to be that lawyers would stay at one firm until retirement. But now its quite different. Each time a lawyer is hired or departs we as Records Managers need to deal with information in connection with those people. Records Management is Outsourced Records Management is being outsourced each and every day. Outsourcing companies are popping up all over the place. Some say its cheaper, some say its not. I don’t really know. Dispersion of Data Data is all over the place – in multiple offices, international, ton of devices – smart phones, tablets, laptops,
- Isn’t that the million dollar question…
- Records management principles
- Did you notice what word is not included? “Records” We need to take a holistic view of our information
- IG is about managing information better.
- For someone to be a leader and drive this thing home. And the door is Wide Open.
- Not only financial implications but also hurt reputation.
- Really people!
- People just don’t what to deal with it.
- Every Firm must consider its legal and regulatory environment along with its tolerance for risk when determining its governance framework. Law firms need to worry about the laws and regulations that affect their clients. Your clients are doing this so should you.
- Tell an attorney that your going to delete his email in 90 days – he probably would say your nuts and slam the door in your face.
- Strengths – Retention Policy – managing physical documents Weaknesses – disposing of information once it has reached its lifecycle Opportunities – Predictive Coding, Big Data, Maybe just using our DM Threats - Mobile
- Illustration of First Car Understand that you can’t do this alone. You need help. If you try to build an IG program by yourself it will fail. You will just keep spinning your wheels.
- Goals give you a target to shoot for.
- Don’t create a policy that can’t be enforced. If the policy is to restrictive and makes it harder for lawyers and users to get their work done. It will not be followed. That why the keep it forever mentality is chosen.
- customize and tailor your approach
- mergers acquisitions, either of people or firms – people join and leave firms all the time.
- Example of Predictive Coding – What if you were searching a large collection of documents, looking for a single maintenance record that confirmed reasonable due diligence vs negligence in a failed mechanical system? In this case, technology assisted review (TAR) could enable a reviewer to code or identify a random sample of documents as relevant, non-relevant or privileged and define relationships to weed out the insignificant documents. The predictive coding system would analyze the remaining document and determine which documents are responsive or fit in the defined categories based on past experience. Help clean up Shared drives, Hard drives, SharePoint, PST, etc. Big Data – Law firms are primarily in a knowledge business. Imagine being able to characterize and classify vast unstructured data stores that once required human eyes to sort and tag effectively. Classifying data could lead directly to reductions in data volumes and firms only storing relevant information and discarding the rest. Big Data reduces risk, allowing firms to more reliably find relevant information in response to a client request or a legal hold. Less data, better classified, means less information to manage. Cloud – software helps lawyers be productive 24/7. FileTrail can be deployed in the cloud. There’s no piece of hardware or software that you can put in place that’s going to solve the information explosion. It’s truly a combination of people with the right knowledge, skills, training and the right methodology.
- Example – Changes to the Federal Rules of Civil Procedure – surrounding e-discovery and the preservation and destruction of information. Targeting for December 2015. Talk to your clients to see which regulations affect them. Talk to litigation.
- IT, RIM, CIO, GC, COO, Managing Partner
- Information Governance Superheros Leverage your current skill set Become a forward thinker Learn to advocate and sell – communication skills Compensate for what you don’t know with a good team Be able to make decisions Partner with key stakeholders – CIO, GC, COO, Managing Partner