Today’s law firms are now managing more and more data daily, and it’s no secret that record keeping security and management must be built properly. It is a complicated process, and having a solid information governance
(IG) program is necessary to help address this growing information management challenge.
I see many law firms make the mistake of approaching recordkeeping by making significant investments in Records Information Management (RIM) systems with state-of-the-art technology before reviewing their current IG program. On the surface, buying and deploying technology seems like a logical first step, but is it?
In the legal industry specifically, RIM is an essential component to an IG strategy. In fact, the 2015-2016 IGI Annual Report1
highlights that 94 percent of respondents believe RIM is an important facet of an IG concept – ranking above eDiscovery (86 percent), risk management (77 percent) and compliance (88 percent), to name a few.
This high indicator points to the records inventory as a critical component of knowing what you have, why you have it, who’s responsible for it, and where it’s located. We see many firms attempting to enhance their records programs from traditional, tactical programs based on legacy paper to a more digital capture- and risk-focused strategy.