Should you invest in eDiscovery Solution Software?
The eDiscovery industry has twisted and turned its way from the days of blowbacks and scanning printed documents. Law firms and the vendors that support them have experienced a marketplace that has undergone rapid, multifaceted change affecting organizations of all size.
Gina Passarella Cipriani noted in her recent article How a Few Savvy Law Firms Turned E-Discovery Into a Cash Cow that during the financial crisis of 2008 and 2009 “a handful of large law firms, including Morgan, Lewis & Bockius and Winston & Strawn, invested millions on a bet that they could make a big return on e-discovery work. Nearly a decade later, it’s paying off—to the tune of tens of millions of dollars a year for some firms.” As many of us who have been around the industry since that time (or even long before) are aware, most firms opt to outsource the bulk of the work to preferred vendors, leverage managed service contracts and/or contract attorneys. Electronic Discovery is considered low margin, high headache work with commodity pricing.
However, there is a thought-provoking quote from Morgan Lewis e-data practice leader, Tess Blair, in Ms. Cipriani’s article:
“I think a lot of law firms have realized, even when completely outsourced, lawyers on the case are accountable. [E-discovery] is not a delegable duty.”
What are law firms to do? Data volumes are skyrocketing, prices are racing to zero, revenue demands are growing, and both deadlines and expectations certainly are not changing.
Fortunately, technology has evolved since 2008 and the investment in a unified eDiscovery solution is now a fraction of the cost. Most importantly, hybrid solutions are available so you can leverage the benefits of public and private clouds, managed service contracts and “on demand” services while retaining full ownership of the process, data, and software.
VenioOne OnDemand is a secure, user friendly and cost efficient eDiscovery solution that enables users to immediately upload, analyze, review and produce electronic documents. This unified e-Discovery platform features centralized administration, be it a home office or contracted service provider, with the flexibility to scale seamlessly across multiple internal and client locations, without the labor or cost required to buy, install, and maintain additional infrastructure.
Documents and emails are uploaded via secure “drag and drop” interface, with automated processing that converts files into a searchable and reviewable format. VenioOne OnDemand includes review, advanced search, data analytics and production tools integrated within an intuitive interface that’s fast and easy to use.
Read Our RICOH eDiscovery OnDemand Case Study: Implementing a secure, user friendly and cost efficient electronic discovery solution with central administration and the flexibility to scale seamlessly across multiple internal and client locations.
VenioOne OnDemand is powered by VenioOne, a unified platform that powers every phase of electronic discovery: processing, early case assessment, legal analysis, culling, review, and digital production. VenioOne is a complete platform with unparalleled agility and ease-of-use – scalable from small to large data sets, deployable locally or in the cloud. Learn More.
