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4 Ways MSPs Support Regulatory Compliance for Law Firms

By: Dataprise

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Managed service providers (MSPs) are a vital tool for organizations of all sizes looking to streamline their IT operations and stay competitive in rapidly evolving markets. However, for law firms, the advantages of a partnership with MSPs extend beyond improving IT efficiency and cost-effectiveness. MSPs are leveraged to help legal practices meet regulatory compliance obligations, which is especially important when it comes to sensitive legal data. They are subject to a host of regulatory requirements including the General Data Protection Regulation (GDPR), the Health Insurance Portability and Accountability Act (HIPAA), and the Payment Card Industry Data Security Standard (PCI DSS). Let’s explain why your law firm should work with an MSP like Dataprise to meet regulatory compliance requirements.

Mitigating Cybersecurity Risks

Regularly, law firms deal with an array of confidential data, including contracts, financial statements of clients, and other highly sensitive information – all of which are the #1 target for malicious actors. Cyber incidents can lead to a negative reputation, increased legal liability, or worse, the loss of confidential information, resulting in damage to business growth.

As security threats evolve, MSPs follow suit, staying up-to-date with the latest technological advances and best practices, intending to provide their clients with enhanced cybersecurity measures. These features range from endpoint protection and intrusion detection to data encryption. Managed service providers can guide law firms through the ever-changing regulatory compliance standards while delivering customized solutions to meet industry-specific data protection needs.

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Meeting Regulatory Compliance Standards

The legal industry is governed by a wide range of regulatory authorities, such as the General Data Protection Regulation (GDPR), Health Insurance Portability and Accountability Act (HIPAA), and Payment Card Industry Data Security Standard (PCI DSS). MSPs help law firms ensure compliance with these mandates by implementing security controls, conducting independent audits, and preparing firms to meet regulatory standards. MSPs work with the goal in mind to mitigate operational risk, increase client trust, and safeguard confidential information.

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Support Regulatory Compliance Law EmailGraphic

Enabling Proper Record Management

A top priority for law firm executives is to maintain detailed records in a highly structured manner. In today’s business environment, with the hybrid work model, keeping physical records might not be enough. According to the American Bar Association, the average solo practitioner spends about 4.6 hours per week on administrative tasks. Law firms must ensure that their electronic records, including emails, are properly archived, backed up, and even independently audited to demonstrate compliance with regulatory mandates. MSPs can take that off of the law firms’ plates by implementing efficient and secure record-keeping practices that meet the necessary legal compliance requirements.

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Ensuring Disaster Recovery

Natural disasters, human errors, or other untimely and unforeseen circumstances can disrupt the IT infrastructure of a law firm, resulting in the loss of data or a complete shutdown of operations. Manage service providers work with law firms to ensure business continuity by implementing robust disaster recovery and business continuity plans to recover in the event of an outage or disaster. This is achieved by providing strong IT infrastructure, off-site backups, and access to resources for employees when required, securely.

In conclusion, MSPs partner with law firms to provide actionable and comprehensive guidance on, procedures, policies, and security controls to maintain compliance and adhere to regulations. Not only does this boost the organization’s positioning in the market, but it also helps lawyers focus on their core competence: humanized and ethical law practice. MSPs help law firms access cutting-edge technology, take advantage of state-of-the-art tools, and leverage economies of scale to improve security, reduce cost and drive better business outcomes.

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