The Effect of the Recession on eDiscovery
The present recession has caused many financial upheavals and brought the economy to its knees
. It has caused many to close shop due to financial strain and the inability to cope and maintain a balance. Litigation is expensive and eDiscovery can add to the financial turmoil. So what can organizations do to bail out of these legal meshes? Litigation is unavoidable and eDiscovery may not always be a viable solution, especially during economic crisis.
Even with the recession wreaking havoc, the demand for
electronic discovery services has not declined. Firms in a bid to reduce their costs have resorted to alternative measures to deal with legal issues. Many organizations choose to bring eDiscovery in-house to help relieve them of their financial burdens and find solutions. Experts have suggested that there is no need for companies to bring the entire eDiscovery process in-house. If companies can manage to bring in only those processes that are focused on cost-savings, it can be quite beneficial
In-house eDiscovery targeting specific functions
Organizations have been carefully and wisely following the guidance of experts, and some have plans to bring processing and analysis procedures in-house, while others plan to use identification and collection processes. The processing, analysis, identification and collection procedures are complex and vast, which can weigh heavily on cost control and budget management. Plodding through stores of information to locate relevant data is a cumbersome process that requires the right sorting method for timely reporting and delivery. The in-house eDiscovery approach can eliminate these massive expenses that are usually outsourced.
Another aspect of in-house eDiscovery is staff training on eDiscovery procedures. Some organizations are taking positive steps by enhancing the strength of existing employees with better e-discovery knowledge and skills. A good number of organizations have appointed eDiscovery managers to oversee all matters pertaining to eDiscovery. This strategy of utilizing in-house resources has helped companies to deal with eDiscovery costs effectively.
Some enterprises have reduced their costs by purchasing
litigation support software, which has helped them gain control over tracking, file collection, processing and legal reviewing procedures rather than outsourcing them. This has also helped reduce risks and improve the economic status of enterprises.
Thought-provoking lessons
Vendors providing e-disclosure services are dwindling in numbers because enterprises have become aware of the benefits of in-house eDiscovery. In-house legal eDiscovery tools have been major catalysts in reducing the expenditures that are usually directed toward outsourced functions by culling data, following easy file collection procedures and providing refined and accurate results.
The recession has certainly taught enterprises that handling litigation cases cost-effectively is possible with some diligence and foresightedness. It is these trying times that have enabled organizations to develop insight, focus on core needs and use effective strategies to battle the demands of the present situation. The shift to in-house electronic discovery services has given many companies praiseworthy results and highlighted the fact that eDiscovery is a plausible solution.
The Effect of the Recession on eDiscovery
By: ajax
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