Because of their expertise spanning the areas of data privacy and cybersecurity, this AMLaw 50 law firm was selected to assist with formulating and executing a response plan for a Fortune 500 company after their security team had identified a data breach.
However, because of the volume of the data involved in the breach, much of it in the form of spreadsheets, the law firm quickly realized that it faced a challenge in performing the assessment with its existing approach without the risk of missing notification deadlines. Since this would put their client at risk of large non-compliance fines from regulators. It was clear they needed some form of automation to quickly and accurately identify whose personal information was impacted.
“There was no way we were going to meet our deadline with our traditional process.”
Privacy & Cybersecurity
Data Breach Response
Using their current approach, the firm estimated that the time taken for reviewing each document would amount to close to 2 minutes, at a cost of as much as $2 per document. With the sheer volume of documents involved, the assessment process could take over a month. Only then could the law firm conclude what notification requirements the company would face.
With Text IQ’s AI, the time for data assessment was reduced by as much as 75%, with an associated reduction in pass-on-costs of 60% to their client.
By partnering with Text IQ, the law firm was able to provide their client with clear and comprehensive guidance on how to respond to the breach, and delineate notification obligations within tight timelines. In turn, the automation of the data assessment process enabled the firm to focus on higher value-add work, and advise on steps to reduce the potential risk of post-breach liability. Instead of spending their energy on the tedious job of document review, the lawyers spent their time doing what they do best: providing counsel and advising on a strategy to move forward.
Increased accuracy to 99.9%
Reduced Turnaround Time by 60%
Reduced Costs by 75%