At the recent Teal Annual Conference I spoke to the delegates about Technology in Compliance, following on from that I would like to ask you these questions?
1 – How do your current systems and processes work for you?
2 – As a firm are you all working on the same system or is it a mix?
3 – Are you confident that all your employees are using the same versions of documents such as your CCL and TOB’s?
4 – How often do you review your systems and processes?
I see that there is a common theme that runs through the majority of firms I meet. These are the firms that do not have case management systems and yes there are a lot, and a mixture of those working on systems and having a “S – Drive” where everyone can access and save documents. There are of course some firms that use the CMS to the best of their advantage and personally I would like to see compliance embedded into the systems and processes within firms.
By investing in people, processes and systems it allows compliance to become second nature, providing an additional layer to internal risk and providing an audit trail if something were to happen.
In addition to the above it can also increase revenue – so what is there not to like?
With so many difference systems on the market and plug-ins available, if you do not have a system, how do you choose the right one for your firm?
- Select the project team in house – have a mix of staff covering support staff, fee earners, IT, Management.You need to have a complete overview from all perspectives. Also ensure you have different disciplines as each will have their own requirements.
- Scope the project of things you must have, should haves and would like to haves.A project cannot always be completed on one phase and must be developed.
- Do your research into providers or bring in an independent consultant who can assist. It is not a one size fits all.
- Know your budget – there is a vast difference between “out the box” and custom built.
- Shortlist your systems that you consider will assist you in your business
- Have a selection of staff at demonstrations
- Take your time to work through the pro’s and cons.
- Consider the change management that will be needed within the firm.
Below are some of the things you embed into your systems:
I am strongly of the view that we can use systems within compliance so that we minimise the risks involved of running a law firm. Why make things more difficult for yourselves, your firms, your staff, and your clients than they need to be!
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