While many organizations understand and accept the fact that eDiscovery is a cost center and does not generate any revenue for the company, there are ways to quantify savings from eDiscovery.
We all know that the amount of ESI data that is kept by companies will continue to increase. IDC predicts that the digital universe will reach 40 zettabytes by 2020; and it’s estimated that 78% of that data is unstructured data. How companies manage and control that unstructured data has a huge impact on reducing eDiscovery costs.
With so much data to collect and review, a huge time and cost savings is to review the relevant information and dismiss the irrelevant information. Lowering the number of documents to review has immediately payoffs. For example, reviewing 5 million pages instead of 10 million pages will generate a savings of $290K.
Reduction of irrelevant data can start in the collection process. Collection usually involves IT and can be time consuming. IT is usually tasked with converting mailboxes on email servers into PST files, getting the data out and finding the relevant information. Using a solution that offer multiple collectors that directly ingest relevant information into a review platform are huge time savers. These solutions can automatically extract all emails from named custodians.
Email remains the most requested format of information in eDiscovery. However, email is a complex format which be found in many formats including Lotus Notes Domino, Office 365, Outlook PST, etc. Each system has a different way of accessing the data. Having a solution that can collect from these different systems can maximize the speed of data collection with less effort.
While in this blog, we discuss savings in the collection process. It’s important to understand that having less data output at each stage of the EDRM will result in more cost savings in the rest of the eDiscovery process. Read our other blog: How to cut eDiscovery costs without increasing risk.