Compliance is key demand for legal tech providers.

Position:RISK MANAGEMENT
 
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As reported on Legaltechnews, com, an AlixPartners survey finds that many U.S. and European organizations are extending their risk management compliance to vendors.

The survey spoke to 300 corporate counsel and legal and compliance officers across North America and Europe.

Nearly all respondents (96%) said their use of new technologies to mitigate internal risks stayed the same over the past year; 38% noted an increase in legal department implementation in 2016.

The survey found that many organizations are holding compliance technology and services to a higher standard, stressing the importance of adhering to data handling and data security compliance regulations, such as the General Data Protection Regulation and Health Insurance Portability and Accountability Act. In fact, roughly one-third of all respondents said they would pay more to store their information at certified data centers. In addition, 40% said they would work only with e-discovery providers who deliver the highest level of compliance.

Michael Prounis of AlixPartners said the demand for certified e-discovery providers is higher for heavily regulated industries such as finance, but even the less-regulated "are still generally becoming savvier in their vendor selection and vetting activities regarding security and privacy assurances."

The survey may have exposed a "disconnect" for some between the concept of information governance (IG)...

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