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The landscape of eDiscovery platforms is expanding. According to analysts, the global market value of the industry was $9.3 billion in 2020. The projection for 2025 is $12.9 billion, growing at a compounded annual growth rate of 6.6%. It’s come a long way since the inception of eDiscovery in 2005.
As the amount of data and its multiple sources continues to grow, even for small cases, the need for eDiscovery software is critical. With so many options, how will you know the right parameters and criteria to select your next eDiscovery platform? And what’s the next “big thing” you should expect from eDiscovery software?
Do Challenges in Process Still Persist With Your Current Solution?
Organizations can face a variety of challenges even when they have eDiscovery software. If they persist, then you’re not getting the most of your eDiscovery platform.
Do your current issues stem from any of these areas?
- Is the solution not end to end?
- Is the processing throughput inconsistent or lower than what you need?
- Is manual review time too long and inefficient?
- Is the user experience poor, which impacts usability and productivity?
- Are workflows manual and inconsistent because you don’t have automation and templates to sync them?
- Is it too hard to scale as you add more cases and users?
- Are you limited in hosting and licensing options?
These are some of the most common issues that organizations encounter even after adopting eDiscovery software. So, when looking for something to replace it and meet all your needs, seek out these features, which are all the next big things in eDiscovery.
What Are the Next Big Things Your New eDiscovery Platform Should Have?
When comparing software, you’ll want to rate them on the scale of how they provide you a solution that works today and tomorrow. A platform should work for your team and deliver value, overcoming the challenges from above.
Here are the next big things you’ll want in your new solution.
An integrated eDiscovery platform has all this functionality and covers all phases of eDiscovery. It’s not a bunch of modules that attempt to work together as one. When you have a unified solution, it delivers a much better user experience. It can also handle any type of case, from simple to highly complex litigation.
Such a solution also enables you to customize eDiscovery workflows to align with the processes you already have in place. Good software adapts to you, not vice versa.
It Uses AI.
The key to reducing human review time is selecting a platform that has advanced tools, including AI. AI enables automatic collection and logical tagging for tiered reviews. It also powers native redaction, email thread review, and mobile data visualization. Finally, technology-assisted review and continuous active learning can reduce data that requires review by up to 90%.
When you use a cloud-based solution, you remove the on-premises demands of upgrading and maintaining hardware. It also makes it much easier to scale. You can start small and ramp up at your pace.
It Streamlines Processes.
Well-designed eDiscovery software streamlines every process and workflow regarding electronically stored information (ESI). It should address all areas of eDiscovery. If it does, you can achieve efficiencies and boost productivity.
It Offers Automation.
When you can apply automation to ESI collection, organization, and review, you save time and eliminate a lot of manual work. That translates to true value as you spend less time and money on preparing for legal proceedings.
It Simplifies Everything.
While legal cases are often complex, that doesn’t mean the eDiscovery process needs to be. With a user-friendly interface and intuitive flow, you can simplify what once seemed overly complex. In many scenarios, you can employ self-service eDiscovery to simplify as well.
Ultimately, these next-level features focus on the functionality that makes things easier. That’s the point of technology. If what you’re working with now actually produces more work, you haven’t realized the ROI you expected.
Ready to Upgrade Your eDiscovery Software?
If you’re unhappy with your current system or process, it’s time to upgrade your eDiscovery software. If it falls short on the pillars above, you should move on. Venio Systems delivers a platform that encompasses all these next big things. It’s an end-to-end system that’s customizable and user-friendly. Request a demo today to see how it works.