Fortune 1000 E-discovery Managers Offer 13 Cost-Saving Tips for In-House Legal Departments
FTI Technology's Latest Advice from Counsel Study Sheds Light on E-Discovery Cost Factors from the Trenches
"For six years, the Advice from Counsel studies have provided a critical resource for corporations seeking to exchange best practices and improve their e-discovery program," said
Across every phase of e-discovery, the results indicate a paradigm shift is underway due to an increased use of analytics. Key findings from the latest Advice from Counsel study support this conclusion and include:
- About half of the respondents (48 percent) process data in-house, while the other half outsource processing or rely on a hybrid of in-house and outsourced services. The number one tip for reducing processing costs is to use analytics to reduce the data set before processing.
- The top complaints about the early case assessment ("ECA") phase is that often matters are so large and fast-moving that teams do not have time to conduct ECA and the software may not scale to handle the dataset.
- Sixty-eight percent of corporations outsource legal review, 28 percent rely on a hybrid of in-house and outsourced services and four percent conduct review completely in-house. The top recommendation for reducing legal review costs is to use analytics and predictive coding so that attorneys review a small subset of the data.
"The respondents for this study provided some of the most direct and practical insight we've had to date for Advice from Counsel," said
Advice from Counsel: 13 Ways Your E-Discovery Manager Thinks You Can Save Money can be downloaded here: http://www.ftitechnology.com/Resource-Center/White-Papers/Advice-from-Counsel--13-Ways-Your-E-Discovery-Manager-Thinks-You-Can-Reduce-E-Discovery-Spending.aspx. The Advice from Counsel study from earlier in 2014 can be downloaded here: http://www.ftitechnology.com/Resource-Center/White-Papers/Advice-From-Counsel--Survey-2013.aspx.
About the Study
For the past six years, FTI Technology has partnered with
About Advice from Counsel
Through in-person events, virtual meetings, webcasts, surveys and reports, Advice from Counsel helps e-discovery leaders share ideas and advice with peers in an open and collaborative forum. Begun in 2008 as an annual survey and report on top e-discovery trends, Advice from Counsel has evolved into an interactive community of e-discovery professionals working to strengthen the people, process and technology at the core of e-discovery. For more on Advice from Counsel, as well as information on how to join, please visit www.ftitechnology.com.