Legal Services BulletinMarch - April 2013

COMMENT FEATURE: see overleaf

DATA RETENTION

how robust is your policy?

In March’s NatWest 2013 FinancialBenchmarking Report , Robert Mowbrayrather starkly observed that “the average firmwas making virtually no real profit”. Relativelysmall increases in efficiencies can have aremarkable effect on profitability. As TassPatsalides, Facilities Director at Kennedyspointed out in The Lawyer “If your margin is,say 25%, £100,000 saved out of anoperational budget equates to £400,000 of

As widely predicted, thefirst quarter of 2013proved to be eventful forthe legal sector.

DWF picked up Cobbetts fora song in a controversial pre-pack deal and an equallydivisive SRA interventionclosed Blakemores Solicitorsin Birmingham.

ERA JOINS LSN

ERA joined the Legal Support Network inJanuary as a Network Partner, it’s been greatto meet so many law firm Business Supportstaff ranging from Finance Directors, FacilitiesManagers, Practice Managers and AccountsStaff at networking events in London, Bristoland Birmingham.

Many of the conversations we’ve had have

Jason AdderleyT: 0121 602 1445M: 07824 449 577E: j.adderley@erauk.net

The Editor

Jason Adderley is a consultant Partner with ERAspecialising in managing programmes of work forlegal and professional services firms.

He has 18 years experience of working withsolicitors and other professional consultants as aclient and as a service provider.

operational budget equates to £400,000 ofturnover or billing. That’s a lot of hours.”

In our endless quest for cost savings andprocess improvements, we project upwards of£100,000 in annual savings with clientsturning over £10 million. Those savingsincrease proportionately, and we’re about tohit £175,000 with a provincial firm with aturnover approaching £20 million.

One of the projects I’ve been most proud ofso far this year involved turning round amulti-office contract cleaning tender for aclient in 4 weeks. Anthony Kinder, one of ourcleaning specialists, has managed to trim16% from annual costs in negotiation with aparticularly hungry junior incumbent supplier.

I’ve been delighted with Anthony’s abilityto create real ‘best value’ partnershipbetween client and contractor. And, ofcourse, by using one of the incumbentsuppliers disruption is minimised.

Many of the conversations we’ve had havegiven us ideas for enhanced service offerings,particularly on the subject of compliance-ledprocess improvement.

Our article on Data Retention Policy (overleaf)is a key case in point.

DATA RETENTION COMPLIANCE

Our old 45’s may notbe the only records wehave stored awaywithout the technologyto retrieve them!

Can you retrieve datafrom your archivedback up media?

An important part of sustaining long term success isdependent on effectively managing and harnessinginformation in the firm. Failure to do this can slow downthe business, increase risk and cost money.

Most law firms keep too much data (both paper and electronic);not only by keeping data that they no longer have to keep, butby keeping multiple copies.

COFAs and COLPs recognisethat beyond the operationalneeds of their businessesthey have a statutoryresponsibility to retain dataand also responsibilities to‘destroy’ certain personaldata after specified periods.

By some counts there areover 100 laws affecting dataretention in the UK alone.

Inevitably there is confusionand conflicts can existbetween the variousrequirements.

A good Data Retention

#2Help with Implementation

0%DISRUPTION

Historically, over 50% ofERA projects haveresulted in clientsmaking a positive choiceto remain withincumbent suppliers.

In our work with lawfirms that figure rises to70%, meaning that ourclients in legal servicessecure substantial cashsavings with a minimumof disruption.

Why ERA?

Jason AdderleyT: 0121 602 1445M: 07824 449 577E: j.adderley@erauk.net

Policy is an essential companion to your Information SecurityPolicy. The Information Commissioner’s Office has becomemuch more assertive in pursuing breaches of data protectionlegislation and businesses need to demonstrate that theytreat data protection and security seriously.

While most of us strive to make our mark on the world andare eager to be remembered, a revision of the EU dataprotection framework announced in January 2013 willestablish a new right, the ‘right to be forgotten’.

Much of the media coverage of this has, inevitably, beenfocussed on the impact on social media such as Facebook,however this will affect all businesses. Businesses will need toensure that their policies and systems relating to thepersonal data they hold are compliant.

How robust is your Data Retention Policy?

Our specialist Peter Lee can assist you in reviewingyour Data Retention Policy to ensure it’s compliant andfit for purpose.

Implementation

We are as committed as you are to the success of each project we take on.

In some cases implementation is simply a matter of signing a new pricing agreement with your existing supplier.

More complicated projectsimplementation may requiretesting, supplier visits, co-ordination across multipledepartments, suppliers andbusiness units and even stafftraining.

ERA helps every step of the way, we’re only paid for success.