Filetrail provides a framework within which information governance policies can be defined and automated. It automates your retention policies, workflow reviews, and disposition for all files to ensure compliance. Including all files, in this process significantly reduces risk and ensures compliance with both regulation and Outside Counsel Guidelines.
A major component of an Information Governance strategy is the management of all matter related documents through their lifecycle and ensuring that their ultimate disposition is respected. This is largely driven by external pressures as clients in highly regulated sectors have been rapidly advancing their risk mitigation initiatives. As a result, they’ve been issuing increasingly detailed information governance (IG) protocols.
This onslaught of new IG requirements is just now reaching law firms. Within firms themselves there is also an increasing recognition of the cost of record storage. Firms are, therefore, being forced to rapidly evolve their IG capabilities to accommodate the distinct guidelines of individual clients, reduce storage costs, and mitigate litigation risk by eliminating old documents and records.
Carrying out such processes manually is time-consuming and labour intensive, factors that have meant that most firms never remove electronic documents or destroy physical records. With FileTrail’s Governance Policy Suite (GPS) software the process of running a manual search for matters that are ready for disposition, sending a memo to the responsible parties, waiting for sign-offs, and then starting the destruction process when those approvals finally surface can be effectively automated.
FileTrail GPS ensures documents never slip through the cracks
- Automatically classify and apply retention policies to documents and records.
- Manage reviews and monitor progress in real-time on an actionable dashboard.
- Automate disposition, destruction, and other processes with built-in workflows.
- Forecast dispositions to reveal the value of retention in future monetary savings.
- Respond to client audits quickly, documenting compliance with advanced audit reporting.
Pass client audits
Automating compliance internally is great, but it means nothing if you’re unable to respond to client audits quickly. With FileTrail GPS’s audit trails and reports, you have on-demand access to all activity, security, and compliance details in one place.
- During the initial classification of a document or the review process, GPS captures all activity and records it in an audit file.
- If a policy changes, the tool can provide a detailed audit trail so that you can generate a report to prove records were promptly destroyed according to policy.