The current eDiscovery market demands the insight and workforce of a mighty operation, challenging firms to navigate a more complex litigation landscape with new technologies while maintaining an approachable, affordable service. In 2022, the eDiscovery market size was USD 14.10 billion, and projects to exhibit a CAGR of 11.2% during the forecast period, 2023-2030. This finding suggests that discovering solutions to offset the growing landscape and keep service costs stable should be in the discussion.
This reality poses a crossroad for firms– more technology integration or compromising costs with an overworked team. The new legal era is here, with a more knowledgeable clientele and increased options for eDiscovery. To meet today's industry challenges of more data and AI adoption, and keep up with the market projection, consider the legal equalizer, the Project Manager.
Electronically Stored Information, or ESI, is the digital footprint that's complicating the cost of eDiscovery, not only in its volume increase but in its complication of understanding and formatting it appropriately. The digital information we collect today extends beyond emails and files from a single device. It includes multiple linked devices, the cloud, and more knowledgeable users with the potential ability to manipulate files.
ESI is complex and requires a knowledgeable person to handle it effectively. Paralegals handling ESI risk mishandling data and exposing potential information without adequate training. Additionally, they may lack the nuanced lens to format it appropriately. Project Managers possess not only the knowledge to understand data, but they may also be able to:
Further, Project Managers bridge the gap between the client, the litigation team, key custodians, and IT, verifying the quality of any service.
AI and advanced technology frame multiple vectors, but the adoption rate is slow within the legal industry. Though automation undoubtedly quickens workflows and allows more time for strategizing, firms are hesitant to implement it to uphold a defensible and ethical work product. A report by Thomson Reuters echoed this sentiment, sharing 82% of lawyers believe generative AI can apply to legal work, but only 3% of firms are currently using it.
The last few years have changed the market's perception of how litigation is accomplished. With numerous options now available, firms have the added pressure to position their service ahead of the rest. Investing in technology and AI will affirm your organization's role in the modern market, and securing the transition, is the Project Manager.
Project Managers possess industry expertise and a crucial connection to IT support and stakeholders. IST's litigation support team includes an IT leader that works closely with the PM and can assist with incorporating new technologies into your business. Any AI adoption is thoroughly reviewed and vetted to adhere to compliance and security, helping the entire organization take a step forward into a more accelerated service.
Maintaining a partnership that complements consultation with service excellence is crucial to staying ahead of technology framing the legal market. Technology may offer faster solutions, but those undergoing litigation will always seek a personalized service versus complete automation. And this makes sense in the legal world, where one word can change an outcome, and strategizing narratives are never predetermined but may develop as the litigation unfolds. At the end of the day, clients want to know who handles their cases and see their vision throughout service. A Project Manager assists from consultation to litigation, advocating for the client in each support step and delegating tasks to the appropriate team.
The power of a partnership versus a service provider is in a vendor's passion for understanding not only the case matter but also the client. Vendors that lead with a Project Management team prioritize communication and client agency in their case preparation. At IST, clients gain an IST Discover-E Portal within Relativity, where they can view the progress of their project, adding and tracking change requests. Prioritizing this level of transparency fosters a closer working relationship between a business and the legal team and a more polished end product.
When your eDiscovery service zooms out, the Project Manager is essential in connecting the dots. Today's industry challenges, on its surface, can leave firms weighing their options, but incorporating a Project Manager is the through-line.
Applying expertise in ESI, workflows, and AI adoption, while positioning clients in front of their support service is the bridge an empowered Project Manager provides.
IST Management is a leading litigation support vendor, sourcing Project Managers with at least 13 years of experience, recruited from AM Law 100 Firms for any case. Contact us to learn more about IST's Project Managers and beginning-to-end eDiscovery service.
IST Management Services, Inc.
1341 Moreland Ave SE, Atlanta, GA 30316