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Your Path to Safe and Productive Work in a Law Firm
Law firms are facing various challenges as technology evolves and shapes the legal industry
Introduction
The legal profession is undergoing rapid transformation as technology continues to reshape how legal services are delivered, creating a set of challenges that can no longer be ignored.
From managing vast amounts of data to ensuring the security and confidentiality of client information, law firms must navigate the complexity of technology while balancing the needs of efficiency, profitability and compliance. there is.
table of contents
1. The Biggest Challenges for Legal Practice
1-1. Abundant data sharing
1-2. Speed and efficiency that clients expect
1-3. Rapid introduction of new technology
1-4. Targets of cyberattacks are increasing
1-5. Maintain legal compliance
2. Risk for law firms
3. Future Direction of Law Firms
3-1. Utilize digital technology
3-2. Improved governance and control
4. Island's leading enterprise browser
5. With Island, law firms can address many important use cases
1. The Biggest Challenges for Legal Practice
1-1. Abundant data sharing
Internal and external collaboration and communication often require sharing sensitive data such as customer information, case files, and legal documents. Formal processes and portals for sharing introduce complexity and delays, and mishandling documents can cause serious problems. Law firms need tools that empower their legal staff without slowing them down.
1-2. Speed and efficiency that clients expect
The market for legal services is highly competitive. Clients have high expectations and companies must constantly strive to provide more efficient and cost-effective legal services. To meet client expectations, law firms must invest in technology solutions that improve their ability to communicate with clients, manage cases and provide legal services more efficiently.
1-3. Rapid introduction of new technology
The legal industry has historically been characterized as a slow adopter of new technology compared to other industries. However, increasing competition and pressure to improve efficiency require law firms to adopt new technologies such as SaaS, AI, cloud computing and automation to remain competitive.
1-4. Targets of cyberattacks are increasing
Law firms are often targeted by cybercriminals due to the sensitivity and confidentiality of their clients' data. Today's sophisticated phishing techniques, ransomware campaigns, and business email compromise attacks keep legal advocates on the alert.
1-5. Maintain legal compliance
Legal professionals must comply with a wide range of regulations, including data privacy laws, e-discovery requirements, and codes of ethics. Failure to comply with these regulations may result in significant financial fines, reputational damage and legal action.
2. Risk for law firms
Law FirmsSee Lowest Profit Towards 2023*(1)
According to Thomson Reuters' State of the Law Market 2023 report, it posted its lowest profit since 2009 due to rising costs and a decline in overall demand for legal services.
Law firms are often targeted by cyberattacks, but few firms are ready to respond*(2)
According to the ABA 2022 Legal Technology Survey Report * (3), 27% of law firms surveyed were aware that their company had experienced a security breach, but had an incident response plan in place. was only 42%.
3. Future Direction of Law Firms
Addressing these technology challenges requires a strategic approach that considers the unique needs and priorities of each law firm and its clients. By leveraging the right technology and best practices, law firms can gain a competitive advantage while ensuring compliance, security and efficiency.
3-1. Utilize digital technology
Competitive law firm leverages new technology to cut costs, open new revenue streams and improve employee and client experience to stand out from competitors It is clear that there is a need.
3-2. Improved governance and control
When pursuing digital transformation, law firms must ensure effective control and governance over key processes and data to protect sensitive client information and avoid potential regulatory fines for misuse and data loss. must be maintained.
4. Island's leading enterprise browser
Island pioneered the Enterprise Browser, the ideal enterprise workplace where work can flow freely while maintaining basic security. With the core needs of law firms built naturally into the browser itself, Island provides the same smooth Chromium-based browser experience users have come to expect while giving them complete control, visibility over the last mile. and governance.
Five. With Island, law firms can address many important use cases
- Protect sensitive information across all SaaS and web applications with dynamic last-mile controls such as integrated DLP, secure storage, screenshot protection, copy/paste controls, and data masking.
- Enable secure access to documents and applications by contractors and third parties, with full audit trails of all actions and last-mile controls to prevent data leaks.
- BYOD or BYOPC access using application perimeters ensures sensitive data stays within the law firm's systems and under the firm's control.
- Safe Browsing blocks malicious content, phishing attempts, and more, and provides full forensic logging to investigate web-based threats and incidents.
- Enhance user experience to speed up common tasks and improve user productivity.
* (1) Source: https://www.thomsonreuters.com/en-us/posts/wp-content/uploads/sites/20/2023/01/2023-State-of-the-Legal-Market.pdf
* (2) Source: https://www.americanbar.org/groups/law_practice/publications/techreport/2022/cybersecurity/
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