Frayman Group is a leading provider of enterprise risk management software for law firms, combining industry expertise with innovative technology to help customers automate business processes, mitigate risk, manage compliance and improve competitiveness.
Frayman Group’s risk management solutions including new business intake, lateral hire intake, conflicts management & clearance, ethical walls, confidentiality management and activity monitoring applications are redefining law firm risk management with a holistic approach that provides speed to new business alongside comprehensive risk management protocols.
The Frayman Approach: People, Processes & Technology
The Three Pillars of Successful Risk Management for Law Firms
In addressing risk management and compliance needs, law firms have spent millions of dollars in IT infrastructure, and have purchased numerous sets of technologies with the promise of solving their toughest business problems. However, for the majority of the cases, the return on investment (ROI) for these purchases has not come close to even the most conservative expectations.
Statistically, most software implementations fail to provide real tangible ROI when implemented in isolation, without regard to a firm’s culture and business practices. Add to that lack of user acceptance for most of the applications deployed in most organizations and the results are not surprising at all.
The right approach to leveraging technology to solve risk management and compliance issues has been the focus for the legal industry experts at Frayman Group for more than 20 years. Our extensive knowledge of how firms operate, and the varying cultures, processes and different sets of technologies utilized to address the mission-critical business issues, is what defined our unique approach to solving risk management problems.
At Frayman Group, our approach is simple. Rather than provide our customers with a generic toolkit a’ la a “Swiss Army knife,” we build packaged applications designed to solve the pertinent risk management problems our customers are facing today. Applications designed specifically for the problem at hand — whether it’s a Conflict of Interest application, a New Business Intake process, or an Ethical Walls & Information Barriers implementation. And, they are designed based on these three simple principles that go hand in hand:
People, Processes, Technology
In designing our applications, our starting point is not the technology. Instead we spend most of our time understanding the risk issues the firm plans to address, considering best practices around the processes we are trying to improve and automate, and observing and understanding how users will interact with the application to ensure the training requirements are minimal and user adoption is guaranteed. Once we have people and processes covered, we then turn our focus to technology implementation. Even then, our approach is unique as we try to leverage proven technologies that our customers are comfortable using and that correlate with in-house IT skill sets. How does this translate into our applications? Simple:
- Build solutions on the Microsoft technology stack
- Build templates that can be modified with ease
- Build web-based solutions that are easily deployed to thousands of users with no desktop footprint
- Build solutions that can be administered with great ease
- Build applications based on well-defined user interface guidelines to drastically reduce user training requirements and increase user adoption
What is the outcome of our approach? Since our inception in 2007, over 200 leading law firms around the world have trusted Frayman Group with their risk management, compliance, new business intake, conflicts management, ethical walls and confidentiality management needs.