STAMFORD, Conn.--(BUSINESS WIRE)--Novitex, the leading North American professional services company in the document outsourcing industry, and the Association of Legal Administrators (ALA), the undisputed leader in the business of law and practice management, today announced the publication of a joint research study, “2016 Report on Trends Impacting the Legal Industry.”
Based on responses from Novitex’s Am Law 200 client base and ALA’s 9,000 member base, this comprehensive report delivers insight into the factors that are influencing the business of leading law firms and how leaders are navigating the new realities of the post-recession market.
Information security emerged as a business imperative. Respondents rank it a distant fourth as a top concern, following increasing net profits, attracting new clients and growing revenues. Approximately 10 percent report not allocating any dollars to cybersecurity, while only 2 percent of respondents say their firm spends a “great deal” on information security.
“Law firms hold sensitive data for a wide-range of clients, making them prime targets for hackers,” Irina Novoselsky, President of Novitex, said. "It is instrumental that firms have a comprehensive information security program in place. This should also incorporate third party vendors to mitigate risk and strengthen the firm’s overall security posture.”
About Novitex: Novitex is a technology-based, managed services provider that offers a range of mail, print, communications and back office solutions. With a suite of offerings, Novitex manages and connects a document’s full life cycle, breaking down operational silos to create more efficient, cost-effective workflows. For nearly 30 years, Fortune 500, Am Law 200 and federal clients have depended on Novitex to manage their business processes. Today, we support more than 400 clients across North America with our tech-driven, end-to-end solutions and more than 8,000 employees. Novitex was formed in 2013 following an acquisition by funds affiliated with Apollo Global Management (APO). For more information, visit Novitex.com.
About ALA: The Association of Legal Administrators is the undisputed leader in the business of law and law practice management. ALA provides members with advice, resources, expert guidance and connections for all aspects of legal management, from the ALA Annual Conference & Expo and Legal Management Webinars to the Certified Legal Manager Program, Job Bank and industry-leading publications.