On April 29, InsideCounsel published an article written by Ed Silverstein about how technology can help in-house counsel improve corporate compliance efforts. Brooks Pierce attorney Bryan Starrett was quoted throughout the article.
From the article:
"Technology can be … used as a tipping point to get compliance on people's radars,” Bryan Starrett, an attorney with Brooks Pierce who formerly worked in corporate finance at both General Electric and Deloitte Consulting, told InsideCounsel. He explains that often a lawyer's phone will ring after an issue has arisen. Companies may be reluctant to spend money on compliance ahead of time.
“Technology shows the digital paper trail of compliance efforts [that were] made,” Starrett says. “It can be a great evidentiary warehouse for you.”
If a company is large enough, it may want to design its own compliance tools, Starrett advises. If a company is using third-party, off-the-shelf compliance products, at the very least, those products may need to be tailored to a particular company or industry. But he suggests that the company ask itself if it can really get something from a vendor that can perfectly align with what it really needs