Protect your law firm: P&C Global’s legal technology strategies bolster cybersecurity and drive efficiency in law firms.
At A Glance
Increase in Annual Revenue
Improvement in Product Quality & Reduced Supply Chain Risk
Increase in Customer Satisfaction
Increase in Annual Net Profit
In the wake of the cyber-attack on Proskauer Rose law firm in April 2023, where a cybercriminal infiltrated and exposed 184,000 confidential files, the vulnerability of law firms to digital crimes has been thrust into the spotlight.
The stolen data, which included privileged financial and legal documents, contracts, and high-profile acquisition files, had been stored on an unsecured cloud server by a third-party vendor and was left exposed for over half a year.
Simultaneously, HWL Ebsworth, one of Australia’s premier law firms, fell victim to a ransomware attack by the Russian-affiliated ransomware-as-a-service group, ALPHV/Blackcat. The firm lost control of over 4TB of data, including sensitive employee and client information, financial reports, and a complete network map.
These incidents underscore the escalating threat that cybercriminals pose to law firms, who are custodians of valuable personal and case-related data. The urgent need for robust security measures has never been more apparent.
Says legal technology expert and author Robert Susskind: “Our legal systems and our justice systems are creaking. I think today’s generation of lawyers has the opportunity to build the systems that replace our old ways of working.”¹
Legal tech budgets rise, cybersecurity preparedness lags
Business insights firm, Gartner, forecasts a threefold increase in legal technology budgets by 2025.² Yet, a recent American Bar Association survey revealed that only 42% of respondents have a cyber-attack incident response plan in place, while 27% have experienced a security breach.³ The need for greater preparedness is clear.
It’s time to embark on a transformative journey with your law firm, unlocking efficiencies and capabilities you may not have thought possible. Here’s how P&C Global can guide you:
Step 1: Fortify Cybersecurity and Infrastructure
Bolster your cybersecurity defenses and technology infrastructure to ward off potential cyber threats. Modernize your systems, replacing ineffective legacy ones, and conduct regular audits to identify and address vulnerabilities. Implement robust digital password management and consider a two-factor identity verification process for logins. Institute security policies for various user levels to safeguard your firm, attorneys, and clients.
Step 2: Boost efficiency: streamline and automate
With a solid technological foundation, you’re ready to leverage technology to drive transformation. Embrace digitalization to replace manual paper processes and unlock efficiencies. Enhance the client experience using capabilities as secure client portals and digital identity verification tools.
Step 3: Stand out: Unique strategies to differentiate in today’s market
Use advanced legal technology to distinguish your law firm as a trailblazer. Machine learning in legal services today can expedite legal research as well as document review and analysis, and even predict legal dispute outcomes. Imagine using Generative AI technology to match client information with relevant case law and draft motions and briefs in minutes or combine term sheets with due diligence data rooms to draft definitive agreements and transaction closing documents.
Here are three recent client engagements that demonstrate our commitment to driving the digital revolution in the legal sector:
Client Engagement 1: Spearheading Digital Transformation at a Leading Law Firm
We partnered with a large law firm to replace their legacy systems with cutting-edge solutions, reducing security incidents by 30% and saving an estimated $15 million annually.
Client Engagement 2: Implementing Digital Identity Management to Minimize Errors
We introduced a digital identity management system for a global law firm, reducing errors by 40% and saving significant resources, resulting in an annual cost savings of approximately $20 million.
Client Engagement 3: Revolutionizing a Law Firm with AI-Driven Data Analytics
We implemented an AI-driven data analytics system for a global law firm, saving up to 50% of time previously spent on legal research and advisory tasks, resulting in a 20% increase in client satisfaction and a 15% increase in case win rate.
These engagements are not just demonstrations of technology’s potential to revolutionize the legal sector but are also testament to P&C Global’s commitment to driving that revolution. We empower our clients to redefine their services, set new standards in their fields, and stay ahead of the competition.
In conclusion, the integration of legal technology in law firms is not just an option, it is the key to unlocking unprecedented opportunities. As your trusted partner, P&C Global is ready to guide you through this digital transformation journey, turning challenges into victories.
Contact P&C Global today and let us lead you on the path to a secure, efficient tech-driven future.
Article Footnotes
- Law.com. Beware of “Technological Myopia,” Richard Susskind Says About GPT-3.5. Isha Marathe, February 23, 2023.
- Gartner.com. “Gartner Predicts Legal Technology Budgets Will Increase Threefold by 2025.” News release, February 10, 2021.
- Americanbar.org. “2022 Cybersecurity.” John W. Simek, February 10, 2021