Without giving too much away, the most interesting thing to come out of the conversations is that for many GCs outside of the financial institution world, IT security is only just entering their procurement checklist.
In panel procurement processes going forward, law firms can expect to be asked about their IT security, possibly for the first time. As one GC tells me: “With our other major suppliers, IT security is a due diligence question, but with law firms, we have taken comfort that it’s a business model that must be grounded in the fact of confidentiality and an added level of trust.”
If you have experience of a corporate asking about IT security for the first time – or have views on whether it’s a hygiene factor or differentiator – please let me know in the comments below or message me direct.
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