On the whole, law firms have a handle on their document management systems (DMS), and some have even introduced policies requiring end users to scan documents directly into their DMS. However, law firm policies on records management systems (RMS)—which focus more on activities of a given organization’s functioning and policies, such as finance or regulatory issues—are still technologically deficient, one survey has found.
The 2016 Cost Recovery Survey from Mattern & Associates found that 90 percent of law firms reported having a records retention policy, either formally (77 percent) or informally (13 percent). However, just 68 percent of those with records retention policies said it covered both electronic and paper data, while 25 percent said the policy covered paper only.
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