While the explosion of electronic communication may benefit law firms and legal department efficiencies and provide them with faster access to their clients, it creates obvious headaches and challenges for their retention and compliance needs. Smarsh’s sixth annual Electronic Communications Compliance Survey of 221 financial services professionals, for example, found that 55 percent of companies do not have confidence in their abilities to manage text messaging. An additional 40 percent also did not have any retention policies at all for employees Facebook and LinkedIn use.
Noticing the market and regulatory demand, as well as companies’ inability to tackle the onerous task of electronic communication management, Smarsh announced the launch of its Assisted Review service. In outsourcing review, Smarsh takes an organization’s electronic communications and through a use of technological and human reviews, highlights instances that may be risk of noncompliance certain policies, regulations or legal responsibilities.
