Extract from Doug Austin’s article “It’s the Most Financial Time of the Year!”
The Christmas season may be the most wonderful (and financial, because it’s often expensive) season of the year for individuals, but we’re heading into the most financial season of the year for organizations. Not the autumn season and not even the football season.
It’s almost time for budget season!
Yes, it’s that time when many organizations work to finalize budgets for their various departments for the upcoming calendar or fiscal year. And that includes the legal department and other related departments to plan their budgets for information governance and eDiscovery expenses for 2022. Let’s look at some of the considerations and recommendations for this upcoming budget season.
The Current Business Environment
The quarterly eDiscovery Business Confidence Survey, which is published on Rob Robinson’s terrific Complex Discovery site always includes a question regarding the issue that survey respondents “feel will most impact the business of eDiscovery over the next six months” and one of six choices is “Budgetary Constraints”. A year ago (during the height of the COVID-19 pandemic) in the Fall survey, nearly half of respondents selected Budgetary Constraints as the top factor with 49.4% (which was still less than the 2020 Summer survey where 56% selected Budgetary Constraints).