As the economic and legal spaces become increasingly globalized—and corporate and law firm teams find themselves mired in cross-border and multi-jurisdictional matters—simplified, universal access to critical case data in the cloud becomes more and more necessary.
Thought Leadership and Industry Trends
The coronavirus is here and is impacting our daily routines. Organizations have responded by mandating that everyone works from home to be safe from exposure. Social distancing is the new norm. Virtually all businesses now must cope with managing a virtual workforce to some degree. That comes with new security risks for the data that businesses spend millions of dollars to protect.
Imagine you are the CIO of a large financial institution and you just discovered two unencrypted laptops stolen from your premises, which contained customers’ personal information (also known as ‘personally identifiable information’ or PII). The highly visible data breach is likely to result in bad public relations and potentially a class-action lawsuit on behalf of the individuals whose identities were stolen.
While many companies have moved at least some of their data to the cloud, others have been more cautious about taking these steps because they want to ensure their data stays in the U.S. Some cloud providers do not have enough locations in the U.S. to enable all data to remain in the country.
Data breaches reported in the media seem to be almost a daily occurrence leaving companies with both immediate and long-term damage that must be addressed.
Often discussions about data only focus on one aspect of it at a time, such as privacy, cybersecurity, retention, big data, etc. However, in order to truly protect data, organizations need to take a broader perspective. Data is an asset that has real value to every organization and its value tracks its many uses. In other words, its value varies with each user and purpose for which the data is used, and this must be considered in developing a management plan for enterprise data.
Cybersecurity is a big problem for many companies as evidenced by the constant media coverage of massive breaches. When these situations happen, experts come in to fix the breach, but that still leaves businesses to deal with their notification obligations. That’s where eDiscovery expertise can make a big difference.