Issue link: https://epubs.iltanet.org/i/30285
Mark: A great example of “pulling” information is seen in key performance indicator dashboards. These can provide legal executives with real-time insight into their risk exposure. This kind of environment can drive more practical behavior such as reviewing a previously agreed-upon budget or even resetting reserves, if need be. John: Spitting out miscellaneous details to people on top of the deluge of information they already receive is pretty ineffective. A “pull” mechanism — I prefer to call it a “decision support system” — helps people make smart decisions with quick and immediate access to business intelligence-type information. Whether through a smartphone, tablet or other device, the ability to very rapidly model the firm-client relationship — any kind of information that helps me better understand that relationship — is really the value of a “pull” environment. What security concerns do firms typically have regarding the deployment of BI tools? John: Security is always a big issue, and early in the project, firms need to carefully consider the impact of how BI information will be used. The other issue is internal. Law firms are relatively simple in their structure; about 75 to 80 percent of their total cost structure is compensation-based, so they have to be extremely careful to safeguard compensation information. It all comes back to maintaining confidentiality of client and firm information. Mark: Exactly! A law firm’s biggest concern is controlling information access. Access control needs to be provided by the platform or specific 40 Financial Management ILTA White Paper legal application with a robust and flexible roles- permission security model that allows organizations to limit access at a discrete level based on the end- user’s role in the organization. Josh: Most firms want to adhere to a security policy that emulates the roles of their actual users. A successful BI implementation takes advantage of a role- or profile-based security structure, which enables deployment of different or customized information targeted to each individual user and limited to his or her area of responsibility. What is the trend regarding BI and software as a service (SaaS)? Mark: SaaS can sometimes be an attractive option, but firms need to keep in mind that such solutions allow external service providers to directly access internal applications; only the application’s internal security prevents data breaches. So SaaS may not be a good option for some firms. To maximize data security, a secure pipeline that leverages advanced security technologies for the transmission of data between inside and outside counsel, and prohibits direct access to the confidential BI database, is critical and required. Josh: Law firms are traditionally slow adopters of new technology, especially those perceived to jeopardize the safeguarding of key client information. However, many firms are adopting this type of cloud model in areas of their other peripheral systems such as HRIS, expense management, e-billing and so on. Based on that, we’re seeing an upswing in the adoption levels of SaaS. In the foreseeable future, firms are going to be increasingly agreeable to the advantages that SaaS