Ride the Lightning

BigLaw: The Budget and Tech Needed to Guard Client Data

December 31, 2014

Last week, Law Technology News (sub.req.) posted a terrific piece on the budget and technology needed to safeguard BigLaw's confidential data.

And yes, it's expensive – the highlight of the story, for me, was the breakdown of a "ground-up" security build from Mary Mack, enterprise technology counsel at ZyLAB. She estimates it would take $750,000 to $1 million.

From my foxhole, it is rapidly reaching the point where even sustaining data security is costing $500,000 or more per year for large firms – remember that a good chunk will go to certified information security personnel – more and more often they are in-house (and more than one is needed), supplemented by outside consultants as required.

I expect the cost of cybersecurity to continue to escalate, as every BigLaw firm acquires a CISO (Chief Information Security Officer) along with other security/privacy personnel. Add to that annual audits (which clients and insurance companies often require) and you are looking at a serious chunk of change.

It has become the cost of doing business with major clients. Not fun, but critical to survival. To adequately address the three classic elements of data security – people, process and technology – well, it sure ain't cheap and it sure ain't easy.

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