Extract from Colin Houghton’s article “How to Drive Down the Costs of Ediscovery”
According to a new Ernst & Young Law Report, “CEOs are demanding that legal departments cut budgets by as much as 18% while workloads are being increased by 25%.” This reality comes as corporate legal teams are being tasked with managing more ediscovery projects with varying degrees of complexity and risk. However, there is huge potential to save costs while still maintaining control over your matters and litigation by bringing more in-house.
Here are 4 easy ways to make ediscovery more cost-effective, from creating your own comprehensive litigation response plan to reducing the volume of documents for review.
1. Knowing Your Way Around the Data
There are a few key factors as to why ediscovery costs are rising, one big one being the amount of data your company manages. It’s crucial for legal teams to know their way around this data, starting with the volume of data your company might have, how that data is organized, and the process for managing that data with ediscovery. In order to understand what data your organization generates and where it might reside, it’s important to create and maintain a current data map.