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Corporate counsel’s journey to efficient in-house eDiscovery

Yannick Duport |October 25, 2018|Read time: 3 min

Journey - footstepsCorporate counsel have used various tools and procedures over the years in their efforts to streamline eDiscovery and reduce outside spend. They’ve tried to outrace swelling floods of corporate data for decades, even as that data continues to drag them under by becoming increasingly difficult to access, collect, and process. Ever-increasing litigation, financial transactions, regulations, audits, and internal investigations force them to rethink and redesign their strategies again and again. 

Yet, despite all their efforts, most corporate counsel are still working to gain control over even basic eDiscovery practices in-house where they can be performed more efficiently with today’s advanced technologies. Nearly 3 out of 4  CLOs rate regulatory or governmental changes — key causes of the need for unfettered access to organized data — as the most important issue keeping them up at night.  

 

Corporate counsel can access the features and benefits they need through in-house eDiscovery 

Today, you’ve got an affordable option to handle eDiscovery matters of every size internally to save money, on a single, user-friendly platform for ease of use, and using advanced technologies to increase efficiencies throughout the entire process. Yet, many organizations still use wildly outdated tools or even no tools at all.  How is that affecting their business and their efforts to improve?  

Download the white paper “The eDiscovery Maturity Model” to explore how important aspects of your eDiscovery, such as risk mitigation, workflow efficiencies, and costs, are affected by the tools and strategies you use.  

The eDiscovery Maturity Model also points out steps to achieve cost-effective, efficient eDiscovery practices. It discusses potential risks and benefits involved in critical areas such as finances, quality & risks, ease of use & automation, processes & collaboration, and security.  

 

In-house counsel are realizing greater costs savings from increased efficiencies on in-house platforms 

The eDiscovery Maturity Model outlines a process through which legal departments leaders can comfortably grow into using advanced technologies such as data analytics and Artificial Intelligence (AI). These technologies are specifically designed to address eDiscovery challenges using modern techniques including: 

  •  Automating time-consuming manual tasks with advanced search, auto-redaction, and auto-classification; 
  • Revealing sentiments, emotions, and trends in data to provide deeper insights sooner and support early decision-making; 
  • Learning what you’re looking for as you’re reviewing and suggesting additional relevant documents;  
  • Finding critical information before you even know what it is with predictive technology;  
  • Eliminating redundant, obsolete, or trivial data and creating more targeted data collections.  

 

Understanding your data helps you guide your company

When you access all your data in one place on an internal eDiscovery platform, you gain a clear, complete, and accurate understanding of your organization’s inner workings that helps you guide your organization with confidence.  

  • Attend 26(f) meet and confers and offer established, defensible eDiscovery procedures for moving forward;
  • Uncover key issues and factors affecting liability sooner by performing an Early Case Assessment;
  • Reliably predict costs and resources needed to move forward;
  • Implement legal holds that are traceable, thorough, and always under your control;   
  • Build Virtual Data Rooms to securely manage complex financial transactions.  

If you’re not experiencing these benefits with your eDiscovery tools, download “The eDiscovery Maturity Model” now and discover the steps you need to take to lead your company toward more efficient eDiscovery practices. 

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