Every corporate department can bring a little something to the table when it comes to managing big data, including in-house.
Angela Hunt, Law Technology News
As we discover new innovative ways to use big data, business leaders are starting to ask themselves which c-suite executives and departments should be the host — and apparently in-house counsel don’t even rank a seat at the table.
The responsibilities for analytics within companies are all over the map, according to a recent Deloitte survey. Of 75 companies, 23 percent tasked a business unit or division head with directing big-data initiatives, while 18 percent handed the job off to the chief financial officer and 15 percent to the chief information officer. Only 5 percent of companies listed another c-suite executive and none listed the legal department, indicating that in-house plays a small role in big data. A whopping 20 percent of companies didn’t have a single executive in charge, demonstrating a leadership vacuum for big data analytics, according to Thomas Davenport for the Wall Street Journal. (read the article)
From the Experts
Alice Lin Geene, Corporate Counsel
While implementing the framework (NIST Cybersecurity Framework) will be voluntary, it will be beneficial for companies to adopt it. In-house counsel will be directly involved in formulating a process that establishes disclosure and compliance guidelines to follow in the event of a breach. Corporate counsel will be integral in designing strategies that address the five fundamental cybersecurity functions defined in the framework:
- Identifying threats: Developing an understanding of which business systems, assets, data and capabilities need to be protected.
- Protecting against threats: Devising safeguards to ensure delivery of essential infrastructure services.
- Detecting events: Applying actions to identify the occurrence of cybersecurity events.
- Responding to events: Implementing responses to detected cybersecurity events.
- Planning for recovery: Employing management processes to restore the capabilities that were impaired through cybersecurity breaches. (read the article)
Security, compliance concerns at the heart of cloud solutions
Firewalls, security keys and compliance are essential components to any cloud solution
Rich Steeves, InsideCounsel
The cloud has proven to be a valuable tool for companies of all sizes in every industry. Cloud storage, communications and applications can save companies money, manpower and time and bring them to the cutting edge of modern technology. But putting data into the cloud does create concerns for businesses, mostly in the areas of security and compliance.
While security has come a long way, companies in certain highly regulated industries like healthcare and finance, must ensure that security standards are up-to-date and aligned with regulatory specifications as laid out by HIPAA, PCI/DSS, etc. Here are some security features to keep in mind when assessing a cloud provider: (read the article)
How GlaxoSmithKline changed the way it buys legal services (video)
Lee Pacchia, ABA Journal
Silvia Hodges Silverstein, adjunct professor at Columbia Law School, and Heidi Gardner, assistant professor at Harvard Business School talk with Bloomberg Law’s Lee Pacchia about how pharmaceutical giant GlaxoSmithKline introduced procurement practices into its retention of outside counsel.
Silverstein describes GlaxoSmithKline’s sourcing room events, which firms are invited to after the RFP submissions. “The quality has been decided at that point in time, so it’s not anymore that you choose between firms who are higher in quality and lower in quality. GlaxoSmithKline at that point in time sees that they’re all pretty much at the same level, so then it really becomes a matter of price,” she says. “And then when the sourcing event is over, then the procurement takes all this information back to the in-house counsel, they can look at all this information. And sourcing makes some suggestions, but it’s actually the legal department, the in-house lawyers, who make the final decisions. So, procurement is really there to help them speed up the process and help them make it more efficient and more objective.” (read the post, watch the video)
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Microsoft and Integreon Team Up for Legal Outsourcing
Rebekah Mintzer, Corporate Counsel
With law departments looking to increase efficiency (and save some cash), legal process outsourcing has become an appealing way to streamline commoditized legal work—54 percent of departments that responded to Corporate Counsel’s “2013 Legal Process Outsourcing Survey” said they’ve tried LPO, and most said they were either “satisfied” or “very satisfied” with the services rendered.
One Fortune 500 company with some prior LPO experience—Microsoft Corporation—decided to take outsourcing a step further in 2009, by partnering with Integreon Managed Solutions Inc., a legal solutions and LPO provider, to improve its contract review process. What resulted was a reduction in legal review time from three days to less than one, a 98.4 percent quality rate, and a 2013 “Outstanding Legal Service Provider” award, given to Integreon by the International Association for Contract and Commercial Management (IACCM) for the ongoing project. (read the article)
Rebekah Mintzer, Corporate Counsel
Anastasia Danias, senior vice president and chief litigation officer for the National Football League, agreed that being responsive is important, as are pricing and outcome of outside legal work. Beyond that though, law departments want firms to remember that in-house counsel are concerned as much about business goals as they are about legal goals.
“We are each accountable to senior executives of a company,” she said, adding that “real value” happens when outside firms reduce the burden on businesspeople, or give in-house lawyers the “tools that we need to make the case for whatever we’re working on to our senior management.” (read the article)