eDiscovery Investigations Can be a Game Changer for Corporations
Along with being present in 195 of the Am Law 200, Relativity software is used by more than 12,000 unique organizations within the US. From litigation and investigations to responding to government requests, the corporate segment of the eDiscovery market is expected to grow by 17% in 2017. As corporations recognize eDiscovery tools like Relativity can be used for efficient internal investigation related to corporate and human resource policies – and in tandem with litigation.
67% of the Fortune 500 companies recently surveyed anticipate their eDiscovery/Litigation Support workload will increase.
Further, 52% of corporations intend to solve their top pain points using outsourced technology. Relativity’s latest 9.5 upgrade promises to reduce risk and help control costs associated with electronic data, but deft application of the software is where the advantage lies. For example, in Relativity 9.5 organizations participating in frequent litigation, like large corporations, only need upload whole data sets once - then copy and reuse the same data for any number of new or different matters in segregated ECA databases. This type of know-how saves an enormous amount of money by eliminating costs associated with multiple uploads and processing fees and is readily offered by the eDiscovery service providers like IST Discover-E who can quickly bring corporations up to speed on the latest tools.
CFO’s Tend to Favor All-Inclusive Software and Service Solutions
Traditionally, an eDiscovery workflow would include migrating data from one software platform to another to take advantage of the relative strengths of each. While all cases are unique, the most important and/or complex data sets are ultimately transferred into Relativity for Review and Production. The best place for your data to end up is in Relativity (there are a number of legacy document review platforms available, but Relativity is far and away the industry leader). Doesn’t it make sense to start your data in the same place it’s going to end up?
The best eDiscovery platform must be designed to facilitate more informed and expedited decision-making at the early stages of a matter.
Recently, 77% of the Fortune 500 companies surveyed would like to increase their usage of AI and advanced analytics. Further note that one of the main barriers to adoption of AI, data analytics, and advanced technology is lack of internal resources and inadequate tools and you identify a real demand for a single-tool eDiscovery solution in the corporate marketplace. IST Discover-E seems to have found the silver bullet by combining experienced project management with improved processing capabilities within Relativity’s 9.5 upgrade and the most advanced data visualization and analytics of any system to date. This simplified solution package makes it a simple decision for any CFO.
Whether Relativity’s strategic direction emphasizes corporate clients over law firms or governments over all others, every enterprise with a need for eDiscovery tools looks to Relativity as the leading technology in the space. Equally, eDiscovery service providers offering Relativity services via cloud-based, highly efficient single-tool workflows will continue to present the best, most adaptable option to savvy practitioners.
Relativity Gets an Upgrade
With global eDiscovery market revenues expected to continue its average 15% annual growth in 2017, the North American software company kCura accounts for the highest revenue share with their Relativity product. Indeed, after years of growth there have been countless, cutting-edge technologies rise and fall from relevance only to be replaced by the next great wave of industry leading software. Some companies seem anchored against the ebb and flow of these tides of innovation while others are doing everything they can to maintain their dominant market share while it lasts. Whether Relativity is the former or the latter, only time can tell.
As corporations, law firms and governments alike warily invest in the latest and greatest eDiscovery systems, many speculate where industry-leading Relativity’s long term strategic direction will lead. Based on market trends, we at IST Discover-E think that Relativity’s latest 9.5 upgrades place corporations squarely in the cross-hairs. However, Relativity’s prestige atop the eDiscovery industry depends directly upon the expertise of the software’s practitioners – the type of expertise that is the stock and trade of Relativity’s vendor partners.
IST Discover-E White Paper:
Cloud eDiscovery Services are More Economical
Collection, storing, processing, and reviewing data during litigations and investigations are key eDiscovery services witnessing high demand from end-users. Further, purchasing and maintaining on premise eDiscovery systems currently accounts for the majority share of the market; however, on the back of rising demand for cloud computing and increasing volume of digitally stored data off-premise, cloud-based eDiscovery services are anticipated to witness an increase of 23% in 2017.
While an increasing number of litigations will continue to drive adoption, increased emphasis among end-users on adhering to ever-evolving compliance standards will further the growth of the eDiscovery market in 2017.
In the last few years, the nascent delineation allowing distinct software developers (Relativity) to empower a robust service provider ecosystem (IST Discover-E) has helped service providers to be able to support different verticals/use cases with even more customization and with a focus on providing a total customer experience. eDiscovery software providers now focus on offering comprehensive, scalable platforms that allow customization for service providers, which inures to the benefit of legal professionals at all levels.
A Software is Only as Good as the People Using It
Whether choosing to go with an on-premises solution or totally outsourced service, throwing money at software won’t solve an eDiscovery problem overnight. Corporate counsel should be certain, well beforehand, that they have an eDiscovery expert with the combined legal procedure and technology wherewithal to effectively apply the software and systems to aid strategy. The obvious and most cost-effective way to secure this level of expertise is to create and maintain a partnership with a quality outsourced eDiscovery vendor.
Rather than recruiting, hiring, managing and retaining key talent on their staff, a majority of Fortune 500 companies surveyed plan to increase use of outsourcing vendors.
Outsourced eDiscovery partners like IST Discover-E can present the latest, most agile eDiscovery collections, processing, review and production platform in the industry today. We recruited The Project Management “Dream Team” from AM Law 100 firms with emphasis on not just technical wizardry, but practical and up-to-date knowledge of the intersection of technology and the law. Our eDiscovery experts and Project Managers have minimum 10 years of experience in eDiscovery and are required to remain accessible to our clients 24/7 in order to provide practical, effective problem-solving. Further, unlike our competitors, IST Discover-E dedicates a lead Project Manager to your matter so you never have to deal with multiple experts with not enough case-specific information. Ultimately, we will take the time to learn the most effective way to work with you.
IST Discover-E understands that every matter is unique, which is why we offer and develop a wide range of eDiscovery solutions fulfilling both your and your client’s requirements in all 50 states. The best part about partnering with IST is our customer-centric approach to all services provided. From Early Case Assessment (ECA) through production, we are with you every step of the way and our consultative expertise will provide you with the tools you need to handle eDiscovery matters competently and confidently.