Extract from Colin Houghton’s article “Fireside Chat With Monica: Our Journey to ZDiscovery”
You probably hear “ediscovery costs are increasing!” fairly often in the corporate ediscovery world. Certainly there’s nothing especially surprising about that statement anymore; as the amount of data we each generate at work skyrockets, it makes sense that the spend needed to manage, process, and review it will also increase.
Fun fact: There are over 2.5 quintillion bytes of data created every single day. That’s a lot of data…
The reason this statement is so persistent, though, is that many legal teams are still grappling with what to do about it. For some, it can be difficult to prioritize cost savings when so many teams are being asked to do more with less each year. For others, the prospect of switching from expensive-but-familiar methods to something new can sound overwhelming.
However, for organizations who are tasked with reducing legal spend, in-house ediscovery software will drive significant savings. Many companies still outsource the majority–if not all–of their data processing and review to service providers. This is a great place to focus cost-saving initiatives for maximum impact to the bottom line.