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eDiscovery continues to change as technology evolves and makes it easier to streamline and manage the process. Change is inevitable, and your corporate clients may be keenly aware of the advancements in eDiscovery software. It might even be attractive enough for them to think they can manage it on their own.
For the corporate clients you serve, this paradigm shift means meeting these changing needs. In-house legal teams desire more transparency and control over the process. They also have concerns about security and costs. Those demands signal that it’s time for your firm to adopt eDiscovery software.
Here are some reasons firms are adopting eDiscovery software for their corporate clients:
Self-Service Models Allow Corporations to Own Parts of the Process.
What if you could balance the workload of eDiscovery so that your corporate clients could manage part of it? That’s possible with self-service platforms.
Self-service eDiscovery software offers an agile, easy-to-use system. It’s a unified platform, so users can quickly upload, analyze, review, and produce electronic documents at scale and securely. Such a solution doesn’t require intensive training to use, so corporate users can begin to use it as soon as it’s deployed.
This flexible platform allows your corporate clients to control certain parts of eDiscovery on their own, while law firms focus on the more complex areas. As a result, it can create the ideal balance from which all parties benefit.
Traditional eDiscovery Is Too Expensive.
The amount of data for each case continues to rise as more types of communications and documents become important (i.e., social media, texts, messaging apps, and so on). Even minor cases can amass multiple gigabytes of data.
With more data often comes greater expense. That's especially true if the workflows don’t include AI-powered review, which reduces the time spent manually doing it. That part of the process is the most expensive, totaling 73%, according to one study.
Thus, old pricing models aren’t sustainable for corporate clients. Their budgets are tight. In fact, in one survey, 88% of general counsel said they expect to reduce overall budgets while also expecting workload to increase in the next year.
For law firms to satisfy the requirements of corporate clients, they’ll need modern, robust eDiscovery software that keeps costs down by reducing manual review and accelerating processing. The cost of the platform should no longer be associated with the volume of data. Rather, a cloud-based solution provides a more cost-effective model.
Data Security Risks Are a Major Concern.
The security of data in eDiscovery is at the top of the list of concerns for many corporations. Cybersecurity threats are a reality for every organization, and in-house legal teams need to depend on their partner firms to apply the most rigid protocols but ensure access.
Security is the responsibility of all parties: eDiscovery software providers, law firms, and corporations. Everyone must be on the same page with IT infrastructure to prevent breaches or cyberattacks.
To mitigate risk, you’ll need to select a platform that makes security a priority. Then you’ll need to fortify your own infrastructure. If there are specific cybersecurity best practices regarding eDiscovery, communicate those to your client’s IT team.
Corporations Don’t Want eDiscovery in Silos.
If your law firm is currently outsourcing eDiscovery processes because you don’t have the resources in-house, your corporate clients may start to push back on this. They don’t want their data sent to multiple vendors because of the inherent risk. Nor do they want other people’s hands in their matters. This causes a lack of control and transparency, which can erode trust.
Staying this course could cause general counsel to bring it entirely in-house. Technology is making it easier, faster, and more affordable to manage eDiscovery. If they think they can handle it internally, your firm is out of the picture. That’s why you have to adapt now to retain your role as a trusted partner. You’ll be able to do that with an end-to-end eDiscovery solution.
Law Firms Can Meet the eDiscovery Needs of Corporate Clients With Venio Systems.
Our eDiscovery software has multiple, flexible options, including a self-service module. With our VenioOne eDiscovery platform, you’ll enjoy a complete solution that encompasses early case assessment, processing, review, analytics, and production. With robust features, including artificial intelligence-powered review, customizable workflows, and more, you’ll be able to take on more eDiscovery work for corporate clients in a secure, scalable, and affordable way.
Find out more about how to reimagine eDiscovery to meet the demands of your corporate clients by requesting a demo.