Extract from Zapproved’s article “How to Evaluate and Control Ediscovery Costs”
It should be no surprise that ediscovery costs represent a massive expenditure for most corporations. The approximate annual budget for ediscovery costs in the US exceeds 40 billions dollars. So it should go without saying that accurately measuring that spend and minimizing it while maximizing the value you gain from it is hugely important to driving success for your team.
And yet, many businesses still don’t realize how much ediscovery actually costs, because they’re focusing on a single line item instead of looking at the whole picture. Costs can be hidden within individual cases or dispersed among different departments, preventing you from accurately evaluating your ediscovery spend.
Whether you’re managing ediscovery entirely in house, sending everything out to a third-party vendor or a law firm, or something in the middle, there are bound to be areas where you can better capture and reduce your spend. As Peter Drucker said, what gets measured gets managed. Let’s look at some ways to account for ediscovery spending and effectively manage it.
