Avoiding the Headlines: Why Law Firms Should Tackle Vendor Governance in 2016

Fox looks at why governance is important, along with a few tips for law firms looking to implement a formal vendor governance strategy

, Legaltech News

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Fox looks at why governance is important, along with a few tips for law firms looking to implement a formal vendor governance strategy.

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What's being said

  • Pundit

    Firms need strong information governance strategies - no argument there; however, vendors are hardly the place to start. Relatively speaking, poor internal controls and processes are the far greater risk for almost every firm. Rather than tackle the low hanging fruit that does little to mitigate risk, firms need to pay better attention to what they themselves are doing.

  • David Armstrong / Navigant

    This is a good topic. This article does an okay job of covering the subject at a high level, but it is lacking in details about how to assess a vendor‘s operational procedures and information security posture. I am an IT professional working for an organization that provides legal technology solutions to highly regulated entities in the financial services sector. My organization has been subjected to yearly audits by those entities. It is encouraging to see law firms being given the advice to conduct similar due diligence exercises.Evaluating a vendor involves more than looking closely at the SLA and whether or not they have had a recent security audit. Information security is a complex discipline that includes technology, people and processes. Therefore the auditors need to be well versed in the subject. Most law firms do not have the technological sophistication to evaluate this risk and should consider having the audit performed by a trusted third party.

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