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The rise in popularity of public cloud services has raised a number of important security concerns. While a small plumbing business that stores some of its contracts on an online storage service doesn’t have much to worry about, there are specific industries for whom cloud storage poses some challenges.
Very real concerns
For example, certain industries have specialized concerns beyond basic security. Common ones include:
- Legal firms
- Financial and accounting firms
- Health care businesses
For these groups, there are serious implications if security is breached. A group medical practice whose patient files are compromised on a cloud storage service, for example, faces medical privacy laws. Attorneys put the issue of privilege at risk. Financial firms risk compliance violations.
Given these concerns, should companies in such industries risk using online storage?
Absolutely. However, they need to be keenly aware of the surrounding security issues, and push storage providers to offer a secure environment.
Private data center security
Up until the past few years, the only real option for data storage for companies was in a private data center environment. Networked file servers greatly and immediately improved the efficiency of most businesses. Collaboration and accessibility increased in a way businesses hadn’t seen previously.
Along with the rise of private storage came security issues. Companies used many different techniques to shield sensitive data from prying eyes, both internal to their company and external to it. Network security, physical machine security, ACLs, intrustion detection devices, firewalls, and more became part of shielding an internal storage server from those who shouldn’t have access.
Security, then, was largely in the hands of the company. Specifically, it was in the hands of the IT professionals in charge of security. In most cases, this made compliance a relatively easy thing. In other cases, however, it created vulnerabilities as corporate security personnel strove to keep up with intrusion and security trends. In either case, security and compliance were squarely in the hands of the company holding the information.
Online storage and security in the cloud
When you take your storage out of the data center, you’re really outsourcing two functions: storage and security. Now, rather than having your data stored in an internal storage environment, you contract with a third party to provide necessary storage.
This raises concerns, of course. Your security is only as good as the online storage provider’s security measures.
The question you need to ask is this: For any given online storage provider, are the security measures in place equal to or greater than the internal storage security measures you have in place? If so, then it becomes a question of cost, efficiency, and scalability. If online storage can provide advantages in those areas, it’s worth considering.
Driving cloud security standards
In many cases, however, online storage provider security may not measure up. That’s why businesses involved in these key industries need to open channels of dialogue with online security providers. They need to identify the kinds of regulatory and compliance issues they’re facing, and encourage storage providers to implement and demonstrate the kinds of advanced security measures required to maintain those standards.
Eric Greenwood is a seasoned writer in technology, taking a particular interest in online storage. You can find more of his articles located at OnlineStorage.org.
January 3rd, 2012
Category: business continuity, Cloud Computing, Cloud Security, Compliance, document management, Financial Services Technology, legal, Legal Ethics, Legal IT, legal technology
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Alvin Tedjamulia, CTO, NetDocuments, will demonstrate the NetDocuments powerful searching technology and efficient methods to increase awareness and better analyze content from across the organization. He will also train on using NDSearch Analysis, which automatically
exposes unknown content as it extracts and displays relevant topics and content choices that match the user’s interest. This webinar is extremely beneficial for existing customers but also for anyone who wants to stay current on the latest in NetDocuments functionality and enhanced design and learn why the most prestigious of firms are migrating to NetDocuments.
Date: Friday, November 11
Time: 12PM Eastern / 9AM Pacific
Registration: www.netdocuments.com/webinar
For more information please contact Leonard Johnson at 801.722.6608 or email Leonard@netdocuments.com
November 2nd, 2011
Category: ABA TechShow, Cloud Computing, document management, Email Management, ILTA, legal, Legal IT, legal technology, SaaS, Searching, Technology
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 This is a reposting of Evolution Legal Technology Solutions’ review of the new NetDocuments user interface
NetDocuments released a brand-new interface to the public on September 30th, and we think it’s pretty awesome. Feedback from firms that have adopted the new interface is that it is “very intuitive, easy to learn, and much more user friendly in daily operations.”
We took it for a spin ourselves, and agree it presents significant usability improvements. We’ll share our observations:
The basic unit of navigation is your “Home Page”. This is now a customizable, easy navigation page that has default sections of Favorite Workspaces, Favorite Items and Active Matters. One of the most exciting features in this new interface is the ability to click on a yellow star icon next to any of your Files, Workspaces and Projects; they are then automatically added to your home page.
You can also use the “Customize Layout” button that allows you to edit the layout of existing sections, as well as add your own custom section. In the “Nifty” category is the ability to drag any item on this page to any of the other sections there! Bottom line: if you want to, you have your own familiar place to go, while the basic functionality of the program (List results, Details Panel, Navigation Pane, Basic/Advanced Search Dialogs) are still the same for all users. The Home Page is always easy to get back to, because no matter what window you’re on, there’s always a clickable “Home” link that will take you back to your home page.
Graphically, how the rest of the interface is organized is pretty simple. Basically, unless you are on your home page, you will be looking at search results or a pop-up window giving you options for an action you want to perform. When looking at search results, you will have your “Navigator” on the left, your search results in the middle, and a “Detail Pane” on the right.
The Navigator lets you navigate your existing Cabinet Folders or Workspaces, with lookups for Clients and Matters (this also includes convenient “Recent” and “Favorite” Matter sections).
Search results quickly and easily present you with options for which fields you want to display (“define display list” button – up to 4 fields) and you can also easily decide which field should be the main sort for the list.
When one document is selected, the Detail Pane on the right displays the document properties and quick buttons for Email, View, and More Options (everything else you can do with a document); as well as subsections for profile details, versions, attachments, and location information. If multiple documents are selected you get a quick button for Group Options (everything you can do with multiple documents).
Application integration with Microsoft Office, ease of file management (in terms of Check-In/Check-Out (or downloading local copies), and e-mail integration remain core parts of the program and work very well, if not better than they did before because they’re more accessible and intuitive.
So, what does it mean to you? Essentially, you have all of the power and logic previously available in the program, but in a much easier, attractive, and intuitive interface. We also think a few improvements have been made in the actual execution of some of the functions. With a little bit of orientation, we think you will be very pleasantly surprised, and if you are a viable candidate for the SAAS document management option, NetDocuments has made the changes it needed to take it “over the top”, in terms of accessibility, and feature-richness. Furthermore, once you’ve got the basics down, you will also find additional features that will address your more advanced needs.
Guest post written by Evolution Legal Technology Solutions, click here to see the original post, contact their team on Twitter: @evotechsol or at www.evotechsol.com
Evolution Legal Technology Solutions is an application consulting organization serving the legal community in South Florida and nationwide. They focus on helping clients select the best product for them, making sure it fully leverages their IT infrastructure, and that users have a real understanding of how the systems make them more efficient.
October 21st, 2011
Category: ABA TechShow, Channel Partner, Cloud Computing, Consulting, document management, legal, Legal IT, legal technology, paperless, Professional Services, SaaS, Technology
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In the September/October 2011issue of The Pennsylvania Lawyer, published by the Pennsylvania Bar Association, practicing attorney and technology consultant, Shannon Brown, provides a very thoughtful and informative primer on the “why’s and wherefores” of cloud computing. His article offers some important background for attorneys attempting to understand the “alphabet soup” of current cloud computing terminology.
He also outlines why it is important for attorneys to understand some of the risks associated with cloud computing, and how to mitigate those risks to insure compliance with various judicial opinions on the topic. Specifically, he cites Ethics Informal Opinion (2010-060, 1/10/2011) of the PA Bar Association’s Committee on Legal Ethics and Professional Responsibility, which states that attorneys may ethically allow client confidential material to be stored ‘in the cloud’ “… provided the attorney makes reasonable efforts to assure that the material is confidential.”
As Brown states, any attorney contemplating a cloud-based storage solution will need to understand what constitutes “reasonable efforts” regarding the confidentiality of data stored. To help with this determination, the author suggests three areas for attorneys to probe carefully before committing to the cloud. They are:
- Data encryption practices adopted by the vendor
- Awareness of the physical storage location of the data itself
- Procedures for disaster recovery of data made available by the vendor
NetDocuments appears to do rather well in all three of these crucial categories.
All documents sent to and from NetDocuments use secure SSL protocols with 128 bit encryption keys, and all documents stored on the NetDocuments servers are fully encrypted. Multiple additional technical and procedural safeguards are in place to insure that your documents are available only to you and to those with whom you choose to share them.
NetDocuments servers are located exclusively in the U.S. for U.S. firms, as well as two redundant datacenters in the UK. All data becomes replicated between the two secure hosting centers, insuring continuity of access. In the event of a disaster at one site, access to the replicated site is instantaneous and transparent to the user. You can read the details for yourself in the NetDocuments Technical Overview.
So, all of you Pennsylvania lawyers out there, rest easy knowing that NetDocuments fully complies with the standards as currently defined by your Committee on Legal Ethics and Professional Responsibility, and as further explicated by a practicing attorney who is also a knowledgeable technology professional.
The cloud can indeed be a dangerous place. Perform your due diligence accordingly.
Post written by Jack Schaller of Eastern Legal Systems (ELS). ELS is one of NetDocuments valued Business Services Partners. Jack is a partner and Director of Client Development and operates out of the firm’s Blue Bell, PA office.
Eastern Legal Systems LLC is a regional technology consulting firm specializing in legal billing and accounting, practice management, document management, and network optimization for small to mid-size law firms. Spanning the “Metroliner Corridor” of the Eastern United States seaboard, Eastern Legal Systems serves clients in New York, New Jersey, Pennsylvania, and Washington, D.C. from offices in those four locations.
Our mission is to add value to each project we initiate for our law firm clients, through our combination of extensive software and training experience, our deep knowledge of the products we support, and our solid legal industry background.
October 5th, 2011
Tags: Attorney, Cloud Computing, Content Management, document management, law firm, Legal Administrators, Legal SaaS, legal technology, LegalTech, Security, Technology|
Category: business continuity, Cloud Computing, Compliance, document management, Ethics, legal, Legal Ethics, legal technology, SaaS, Technology
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The Desktop Computing era has brought computing power into the hands of the users, but left them still dependent upon IT to provision the back-end infrastructure such as networks, servers and firewalls. Upkeep on in-house infrastructure tends to be daunting and very costly.
What’s more, catastrophe can result at anytime from drive failures, viruses, corrupt databases, server patches and the list goes on. You also need to pay for all the hardware and a team to manage it.
Since application servers tend to be driven by departmental budgets, IT infrastructures often finish up as over provisioned mishmashes of equipment, processes and technology entailing excessive cost and great inefficiencies with servers working at 15-25% of capacity. Cloud servers, on the other hand, run at 75-90% of capacity. This results in less office space, hardware, staff and power requirements saving a lot of money, and the environment.
Fundamental to the Cloud Computing argument is that software is rented rather than bought outright. Finance directors will straightaway draw a comparison between the two routes and present that after typically 2.5 or 3 years, the rental payments on exactly the same resources would appear to exceed the capital cost: it would consequently make little sense to accept a rental agreement.
While that break-point may be right at first view, Alex Parker of Commensus debates that there are noteworthy considerations to be taken into account. “It assumes that any equipment purchased is being fully utilized from the outset. If a company has acquired IT solutions with the capacity to take it forward three or five years, for example, it is paying for resources on which it cannot generate a return on capital. Changed circumstances may mean that the capacity is never fully taken up.”
Cloud Computing offers the prospect of moving most IT expenditure from the balance sheet to the profit & loss account. This in turn removes capital expenditure, cutting operational expenditure and gives small firms the budget predictability they need. IT departments can then focus on the front-end issues that will enable organisation survival and growth.
With Cloud Computing, instead of making one capital commitment to buy the hardware and another to acquire expensive software, firms in effect rent both the hardware and the software, paying only for the resources that are actually employed. So you don’t pay anything when services are not needed, doing away with unneeded overprovision of resources to provide for unpredictable spikes in demands. Businesses can go from 20 workstations to 80 and back to 50 again in the time it takes to authorize the online paperwork. This “pay-as-you-grow, save-if-you-shrink” model works out much cheaper in the long run.
In the past, it might take a business six to eight weeks to commission an application server. Now, computing power and storage space is becoming a commodity, purchased when necessary and scaled up when necessary. This dynamic resource management is enabling organisations to respond quicker to market shifts and acquire an advantage over their rivals. It is this agility and scalability that persuades most companies to venture into the cloud.
But Cloud Computing is more than an IT deployment. Moving into the cloud is a cultural shift as well as a technology shift. For IT staff, and particularly the chief technology and chief information officers, it requires a rethinking of their roles. 70% of time previously wasted on operational maintenance and upgrades is then available to spend focusing on business strategy. This allows a company to take advantage of new opportunities to innovate and grow.
The above guest post was by Jack Wilson of Commensus PLC, who specialise in Cloud Computing services for the UK. Commensus can be found on Twitter at @WhatistheCloud.
August 2nd, 2011
Tags: UK, UK Data Center|
Category: Cloud Computing, document management, SaaS
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Industry leaders publish open responses to ABA Commission on Ethics 20/20 Proposals and North Carolina State Bar Proposed Formal Ethics Opinion on cloud computing
Jul 19, 2011 – The Legal Cloud Computing Association (“LCCA”) has published its responses to proposals issued by the ABA Commission on Ethics 20/20 (“Commission”) and the North Carolina State Bar (“NC State Bar”) regarding the use of cloud computing within a law practice.
The LCCA, formed in December 2010, is the collective voice of the leading cloud computing software providers for the legal profession, consisting of Clio (Themis Solutions, Inc.), DiaLawg, LLC, DirectLaw, Inc., NetDocuments, Nextpoint, Inc., RealPractice, Inc., Rocket Matter, LLC, and Total Attorneys, LLC.
Response to ABA Commission on Ethics 20/20
The LCCA’s letter to the ABA Commission on Ethics was issued in response to the Commission’s Initial Draft Proposals on “Technology and Confidentiality” published on May 2, 2011. The Proposals include certain modifications to the ABA Model Rules of Professional Conduct that are designed to facilitate the responsible adoption of technology that will increase the quality, and reduce the cost, of legal services. The Proposals were issued as part of a process initiated in early 2010 where the Commission published an Issues Paper requesting comments and feedback from the legal community.
The LCCA fully supports the Commission’s Proposals, and thanks the Commission for incorporating feedback from the LCCA and others on the Issues Paper.
Response to North Carolina State Bar Proposed 2011FEO6
The LCCA’s letter to the NC State Bar pertains to Proposed Formal Ethics Opinion (“FEO”) 2011FEO6. The Proposed FEO attempts to address the ethical issues relating to the use of Software-as-a-Service or cloud computing within a law firm environment.
While the LCCA supports the NC State Bar’s efforts to provide clarity on the use of cloud computing to its members, the Proposed FEO as written would negatively impact a broad scope of attorneys from those who do nothing more than use a web-based email client or conduct online legal research to those that do full scale online delivery of legal services.
The onerous requirements of the Proposed FEO, detailed in full in the LCCA’s response to the NC State Bar, would force many cloud computing providers to withdraw from the NC market entirely, thus negatively impacting the technological capabilities and competiveness of NC-based law firms.
The LCCA thanks both the ABA and the North Carolina State Bar for the opportunity to provide feedback on their respective proposals. It is the LCCA’s hope that a constructive dialog among stakeholders will facilitate the rapid adoption of cloud computing technology within the legal profession, consistent with the highest standards of professionalism and ethical compliance.
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About the Legal Cloud Computing Association
Formed in 2010, The Legal Cloud Computing Association (“LCCA”) is the collective voice of the leading cloud computing software providers for the legal profession. The LCCA consists of Clio (Themis Solutions, Inc.), DiaLawg, LLC, DirectLaw, Inc., NetDocuments Inc., Nextpoint, Inc., RealPractice, Inc., Rocket Matter, LLC, and Total Attorneys, LLC. To find out more about the LCCA, visit www.legalcloudcomputingassociation.org.
About Clio (Themis Solutions Inc.)
Clio (http://www.goclio.com), a comprehensive web-based practice management Software-as-a-Service (SaaS) product, is specifically designed for solo practitioners and small law firms using PCs and Macs. It can be accessed from any Internet-enabled computer or mobile device. Secure and easy-to-use, Clio provides case/matter management, time tracking, billing/reporting, client contact and document management, task scheduling, trust accounting, and performance metrics for independent lawyers to benchmark their business goals. In addition, Clio includes ClientConnect, a secure portal for document sharing and collaboration with clients, and Clio Express, an offline time capture application.
Clio’s parent company, Themis Solutions Inc., is based in Vancouver, British Columbia. The company was founded by Jack Newton and Rian Gauvreau. Visit www.goclio.com, e-mail info@goclio.com, call 1-888-858-CLIO or follow on Twitter @goclio.
About Dialawg, LLC
Dialawg, LLC (http://www.dialawg.com), headquartered in Carmel, Indiana, provides a world-class, private communication network to the legal profession. Its proprietary software-as-a-service platform uses advanced encryption technology to deliver simple, affordable message and document collaboration to lawyers and their clients across the globe. Dialawg provides free basic accounts, allows subscribers to communicate more securely on the web, and works with most common platforms and devices–so that attorneys can focus less on complicated technologies and more on protecting and delivering value to clients.
About DirectLaw, Inc.
DirectLaw, Inc (http://www.directlaw.com), based in Owings Mills, Maryland and Palm Beach Gardens, Florida, provides a virtual law firm platform to solos and small law firms that enables these law firms to deliver legal services over the Internet without developing complex software applications on their own. For more information visit DirectLaw.com.
About NetDocuments
NetDocuments (http://www.netdocuments.com) is a leading, cloud-computing content management and collaboration service. Organizations of all sizes can save tens to hundreds of thousands of dollars by eliminating the hardware, system and client software, and ongoing administration of a legacy client-server technology model. With the NetDocuments patented service simply “turned on,” business professionals can immediately begin storing, managing and sharing documents throughout the world and on any Internet-connected service device. Founded in 1998 and based in Orem, Utah, NetDocuments has 100,000 plus users in over 128 countries.
About Nextpoint, Inc.
Nextpoint (http://www.nextpoint.com/) provides cloud computing tools and services for legal, compliance and regulatory needs. The Nextpoint platform is an on-demand, multi tenant suite of software-as-a-service products that are changing the way corporations, governments, and lawyers collaborate and manage electronic data. Nextpoint offers its customers a reliable, proven set of products to realize the benefits of cloud computing. Nextpoint manages terabytes of data for hundreds of customers across the nation, including Amgen, ExxonMobil, Pfizer, and Verizon, the state of Washington, non-profits, and law firms of all sizes from solo practitioners to the AmLaw 200.
About RealPractice, Inc.
RealPractice, Inc. (http://www.RealPractice.com) helps attorneys and law firms to “realize the potential of their practice.” For more than 11 years, the company has been providing innovative and trusted software and marketing services to thousands of legal professionals, from the solo practitioner to some of the largest law firms in the country. RealPractice products and services include My RealPractice™, Performance Marketing, My RealSites™, LawyerToolbox™, SmartRules™, SmartRules Enterprise, RealCourtDocs™, RealDealDocs™, RealDealDocs Enterprise, Real Knowledge Management™ and RealDealForms™.
About Rocket Matter, LLC
Rocket Matter, LLC (http://www.rocketmatter.com) provides Rocket Matter®, an online legal practice management and time tracking application for small to mid-sized law firms. The benefits of Rocket Matter®, a Software-as-a-Service (SaaS) application, include increased security, business continuity, decreased technology infrastructure and maintenance costs, and improved return on investment for information technology expenses. Launched in February 2008, Rocket Matter’s corporate headquarters is in Boca Raton, FL.
About Total Attorneys, LLC
Total Attorneys (http://www.totalattorneys.com) is a managed service provider that helps small law firms and solo practitioners improve operations and grow their businesses. Total Attorneys offers a broad range of evolving services tailored to the needs of small law firms, including virtual law office technology, search engine marketing, a professional call center and customizable answering services. Founded in 2002, Total Attorneys now serves solo attorneys and small law firms across the United States. The company was ranked in the top five on the Crain’s Chicago Fast Fifty lists for 2008 and 2009 and listed 169th and 219th on the 2008 and 2009 Inc. 5000 lists of fastest-growing private companies in the U.S.
Contact:
Jack Newton
Acting President
Legal Cloud Computing Association
1-888-858-2546 x5
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July 20th, 2011
Category: SaaS
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Open Letter to CIOs everywhere:
As you’ve surely noticed, technology isn’t just changing the functions of your employee’s jobs, it’s blurring the lines of work and life altogether by giving them a choice over how and where they work. We’ve all seen the stats, for example:
- There are over 1.97 billion Internet users worldwide.
- 294 billion email messages per day.
- In just 9 months, 1 billion iPhone apps have been downloaded.
- Every minute, another 24 hours of video is uploaded to YouTube.
- There are 55 million tweets per day.
- 25 million iPads have been sold to date.
Today, work styles have become as unique as your people and your technology should reflect that. But you have choices, option #1 is to continue with the status quo. Option #2 is to embrace change and leverage the web and new technology to allow employees to be flexible enough to react to their clients needs in the most optimal way possible.
If you go with option 1, click here, if you like option 2, continue reading…
I’m guessing your employees probably have their iPad sitting in the briefcase just waiting to use it for more than Facebook and Photo Booth. You’ve also probably got multiple devices with separate information that has to be uploaded and downloaded to share across those devices and with others but want a centralized repository for all of their documents that is secure and accessible form anywhere.
We are witnessing this everyday at NetDocuments, from both large and small customers who want their document work available wherever they are—at work, at home, at the client’s site, and the local café.
An office manager of a law firm using NetDocuments recently stated, “A lot of our attorneys are now able to work from anywhere, when they are at home or at the office.” Another attorney stated, “Now that I’m with NetDocuments, I don’t have to worry about [servers and backups]. That is the best thing about it. You’ve got multiple redundant backups built in so I don’t have to worry about backing up, saving, backing up, saving and then keep worrying about if it is still working or not.”
Welcome to the cloud connected business person. At NetDocuments, our vision for that worker is one that can work anywhere. Her document work is backed up and protected from disaster…even that hard drive crash. Document sharing with the office and her clients is simple with no hassles. The ability to check in and out documents and create versions when necessary manages the sharing of documents with others easier. Knowing that her documents are physically stored in redundant datacenters brings the peace of mind and security infrastructure one needs when choosing the right cloud vendor and technology partner to work with.
The world is on the web…your employees are on the web…your firms will be someday…welcome to someday.
Post written by @DannymJohnson of the @NetDocuments marketing team.
June 21st, 2011
Tags: Consumerization, new technology, SaaS|
Category: business continuity, Cloud Computing, collaboration, SaaS, Salesforce.com, Technology
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 “Everything we do, we do differently than we did 18 months ago. We’ve reengineered the entire firm to change the client experience,” said John Ohmer, CEO of YellowBrickRoad Financial Advisors. “It’s made portfolio reporting and financial advising completely different than anything we’ve ever experienced.”
What John and his team did was to go boldly to a place where they had not gone before…that place is called the cloud.
They started with Salesforce CRM and continued with NetDocuments: “We kept our documents on a shared drive on our server but we felt strategically that we wanted to have our document solution hosted in the sky and we needed it to be SEC compliant and integrated with Salesforce,” John said.
Re-engineering a firm to improve the client experience not always easy, but YellowBrickRoad made it look easy. Read their case study to get the entire story.
Post written by Danny Johnson of the NetDocuments Marketing Team
June 7th, 2011
Tags: Case Study, Financial Services, Salesforce|
Category: Broker Dealer, business continuity, collaboration, Compliance, Document Management for Salesforce, SaaS, Salesforce.com
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Your business’s most valuable asset is INFORMATION…most of which belongs to your clients. No big deal right? Wrong! As the information you own grows, it becomes more and more difficult to find what you need, when you need it…but that doesn’t have to be the case. Check out this new video to see how forward looking professionals are leveraging the power of new technology in document management.
Post written by @DannymJohnson of the NetDocuments Marketing Team
May 31st, 2011
Category: SaaS
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NAPFA National was the first financial services conference we have attended that was not a technology specific conference, so we weren’t sure how many advisors would be there looking for technology solutions…turns out, nearly all of them were.
After spending the week talking about the cloud and hearing from the source what financial planners want from their technology to serve their clients, here is some of what we learned:
Financial planners need a better way to manage their documents
I asked everyone I came in contact with how they were managing their documents and most of them were storing their documents on a server in their office and jumping through hoops to create backup disks and disaster recovery solutions in the name of meeting SEC compliance requirements. These advisors also expressed the need for anytime access and easier ways to share their content with clients.
When we presented the idea of the cloud, it was not a new concept to most advisors; however, when we showed them how NetDocuments provided them all of the benefits of the cloud without sacrificing any functionality, security or compliance, it was a compelling argument and most wanted to learn more.
Siloed Information Sucks
After two days on the exhibit floor talking with advisors about their desire for their separate business applications to speak to each other, I attended a technology panel featuring Bill Winterberg and Davis Janowski and that same theme kept coming up. While NetDocuments is integrated with Salesforce, there was high demand to see integrations with other CRM and financial planning apps that would provide advisors a seamless way to handle a client’s portfolio, documents and relationship…we have taken note and you can expect to see some innovation in this space in the near future.
Client Centricity is new Status Quo
Our enterprise customers are constantly chatting about the consumerization of IT and how the new technology that their employees are using in their daily lives is driving innovation in business apps. Personal financial advisors are talking about the same thing. Their customers are living on the web and want to communicate using new mediums…the only difficulty is that of confidentiality and SEC and FIRNA regulations regarding sending email attachments or providing client access without audit trails or history. That intersection is where client centric business apps are filling this need.
Next year the show will be in Chicago and you can expect to see the us and our cloud soda again. To continue the discussion, send us a tweet at @NetDocuments.
Post written by @DannymJohnson of the NetDocuments Marketing Team
May 24th, 2011
Tags: Financial Services, NAPFA|
Category: Broker Dealer, business continuity, collaboration, Compliance, SaaS
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