- 21 | 10 | 2024
By Andy Butcher, Digital Strategy and Client Director
In the legal industry all roads seem to lead to documents. Like financial institutions, finding the right information smoothly, simply and efficiently is a cornerstone to success but the combination of compliance and regulation mean that often the approach to information or data management becomes cumbersome.
But it doesn’t have to be. The right approach can transform the way you collaborate across teams, providing information in a timely fashion, as well saving money. And with increased flexible working, greater expectations regarding collaboration and ever more stringent regulation and compliance; how you store, access and share information is increasingly a catalyst for competitive advantage.
First and foremost is making sure your system is designed by people who do this for a living – by which I mean having a solid understanding of the pitfalls, risks and restrictions that come with working with sensitive information.
Then the principles that will drive investment in your document management system are so important, they can be divided into three groupings – efficiency, collaboration and compliance.
Driving efficiency
In this industry, knowledge is power, and proof is king. Being able to access vital documents, easily, and in a timely fashion is essential, and failure to do so is a real risk to your brand. Designing and then managing the right kind of IMS/DMS in this area is a balance between utilising the latest technology, whilst ensuring physical records management harmonises with its digital counterpart. This will allow you to triage your needs – what do you need to access often/fast, what can wait, what needs to be kept in paper form for regulatory reasons, and even what can be destroyed.
Facilitating collaboration
We all know that there are ever growing expectations on individuals to work collaboratively – while at the same time managing teams that are often working flexibly/remotely and in various locations. We’re increasingly comfortable to do this across digital platforms, but it’s just as important that you can work across teams with legacy documents that remain in paper form. This is where scan on demand can be a lifesaver – allowing you to turn the physical into the virtual, share it securely across locations, and manage all of that without eating into valuable employee hours.
Ensuring compliance
Version control, maintaining an audit of access, and information security are important factors to any DMS but in this industry consequences of not managing data appropriately can be significant; loosing clients, financial penalties, reputation to name a few. A robust system allows you to record and control who has access and when, maintain confidentiality and ensure the integrity of your information. This remains true irrespective of whether your data is in a cardboard box or in the most advanced digital system.
The truth is that due to a number of factors, there will be an increasing drive to digitise legal documents and working practices – but the legacy of hundreds of years of paper documents can’t be ignored – and any approach must encompass the old, as well as welcoming the new.
In summary, it’s critical to consider these aspects and how they can fundamentally underpin the core business decisions taken to deploy best document management strategies. The adoption of outsourcing both physical and digital information management services is often seen as ‘the best fit’. Consider your long-term information management strategy for all legacy data assets? How does this align with digital transformation journeys? What approach drives best value to your organisation and clients?
