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How To Become a More Efficient, Profitable, & Secure Law Firm (Part 1)

Law Firm Operations
three people sitting at a desk looking at a computer
 
Every firm, no matter how big or small, must protect itself. So, what can a firm do to reduce the threat of being hacked?
 

There are so many ways for a law firm to become more profitable, which go beyond the standard approach of cutting costs and obtaining more business. Additionally, the new option for a hybrid work environment has caused new data safety concerns, which require new and tighter procedural requirements to combat them. Due to this current chaotic business environment, the legal industry has become one of the most susceptible industries to cyber-attacks. Every firm, no matter how big or small, must protect itself. So, what can a firm do to reduce the threat of being hacked?

Training

While there are a number of resources available to protect the firm’s cybersecurity, unfortunately, the truth is many of the attacks target firms where they are most vulnerable – the weakest link are the employees, so training is key. Understanding that training employees for cybersecurity is essential for every firm.

Law firms may want to share their cyber-security knowledge with their clients and take measures to ensure privileged information doesn’t get into the wrong hands. Zola Caseway™, a secure client portal, is a perfect solution; with the click of a button, firms can easily share files with clients The safer a client feels with a firm, the more likely that client will remain a client and refer others to the firm.

Firms may consider making cybersecurity a part of their onboarding of their employees and clients. Additionally, providing CLE (Continue Legal Education) credits cybersecurity training can significantly differentiate a law firm from its competitors.

Lean on Experts

The best approach to ensure compliance is to reach out to trusted experts— like your cloud provider, time & billing provider, and/or document management team. These are business partners with whom you are already working with and can provide training and guidance as to how to avoid cyberattacks challenges the firm may run into in their day-to-day workflow.

As the number of data breaches and hacks continue to rise, when designing any remote-work policy ensure to inform your firm’s vendors as it is vital to ensure the policies are understood and adhered to by everyone to ensure a safer and more efficient firm.

The reality as shared earlier every type of organization that uses face cyber risk, especially the legal industry. As technology becomes more complex and sophisticated, so do the threats your firm may face. This is why firms should consider cyber liability insurance to accompany your cybersecurity plan to manage and mitigate cyber risk.

 
Protecting your client’s data is a basic requirement in today’s environment.
 

Recently, cyber-liability insurance premiums have increased significantly. Insurance companies are usually willing to offer help and suggestions that will reduce premiums when certain security measures are met. Many insurance companies are requiring dual factor authentication as opposed to making the feature optional. While it can be cumbersome and involves another step when logging into the firm’s private data, this additional security is becoming the norm. Consider it similar to installing a deadbolt on the door of a residence.

In summary, preparation is key to mitigating a potential cyber-related event. Protecting your client’s data is a basic requirement in today’s environment. It is no longer an option. Law firm leaders should involve their business partners, employees, and clients regarding cybersecurity issues. No longer can a leader spout “we’ve always done it this way.” That mindset can literally bankrupt an organization and its owners. Relevant education is the key to remaining safe.

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