It is no secret that various industries generate, receive and accumulate increasing amounts of data thereby conveying the fact that electronic discovery is indispensable in any business. However, despite the obvious necessity of having an eDiscovery program in managing the growing number of different types of information, the majority of company decision-makers do not include it in their top priority. Reports of corporate unpreparedness cause a threat to the finances, legal aspect, and reputation of the company.
Electronic discovery is difficult to explain especially to non-legal individuals. Even some lawyers take eDiscovery education to better understand the topic. Keep in mind that there is always the danger of being sued for malpractice. Moreover, failure to manage it may result in serious complications. Therefore, eDiscovery should not be taken for granted. To help corporate legal departments and law firms, various companies offer eDiscovery software to manage electronic documents.
What is eDiscovery?
Discovery refers to the process of identifying, collecting, storing, securing, and analyzing data with the intent of utilizing it in pre-trial motions and trial proceedings. The objective is to obtain necessary data that will be used as evidence in the civil or criminal case. The information gathered can refer to any document or testimony.
Electronic discovery, also called e-discovery or eDiscovery, is defined as an extension of the discovery process but, as the name implies, the information sought is in electronic format. It includes email, spreadsheets, messages, and other electronic files that are stored in a variety of digital platforms such as desktop or smartphones.
According to an Osterman Research White Paper sponsored by Barracuda Networks, 35% of the total expenses in litigation was for eDiscovery. When enterprises fail to provide email as a part of the discovery procedure, they might be sanctioned and face the consequence of paying millions of dollars for it. This will result in loss of revenue not to mention the damage it may bring to the company’s reputation.
How does eDiscovery Software work?
The process of eDiscovery definitely adds burden to the company, especially to the IT staff and legal department employees. For this reason, more and more enterprises are utilizing electronic discovery tools to enhance business procedures and make jobs easier. With the use of the right electronic discovery software for your business, the complicated discovery process will be simplified.
Electronic discovery software allows assessment of the different electronic information that will be used during the trial. It assists in recognition, collection, conservation, evaluation, analysis and creation of electronic data that are relevant to the case. It can be used together with other software such as case management tools, database, and backup systems for the purpose of data collection and filtering information that is pertinent. The goal of the eDiscovery software is to provide a timely and speedy discovery process. This reduces cost and saves more time and effort compared to the traditional way.
The availability and affordability of large storage resulted to a flare in the growth of electronic data. It was predicted in 2014 that by 2020, the amount of data will be doubled. This calls for the need of more innovative eDiscovery tools to address the company’s needs. To help you with the selection process, check https://www.crowdreviews.com/best-electronic-discovery-software for the top eDiscovery platforms ranked according to unbiased client-based reviews.
Why Should You Invest in eDiscovery Software Programs?
- Reduce Errors
One of the advantages of using an eDiscovery tool is the reduction of human errors. No doubt, people make mistakes and there are a lot of factors that can affect a staff’s proficiency. On the other hand, eDiscovery software that is efficiently designed ensures the accuracy of its function. It can detect discrepancies and warns IT staff or legal department employees of possible risks.
An example of this that could have prevented is the case of Oracle versus Google. The former was seeking $9 billion for the use of a copyright-protected code in Android. Although the final verdict of the jury freed Google from any liability, anyone can learn a lesson from this fight of software titans. What if the eDiscovery software displayed a message of warning when near- duplicates were created? As stated by Shell Zhu, an experienced designer of LexisNexis, designs that are executed correctly minimizes errors.
For a list of the best electronic discovery software, visit this link: https://www.crowdreviews.com/best-electronic-discovery-software
- Save Time
Electronic discovery tools analyze electronic documents faster than the traditional approach of discovery. For one, a unified eDiscovery software eradicates most of the import and export processes which usually consumes a terrific amount of time in eDiscovery. In addition, the automated collections and user-friendly module provided by electronic discovery software companies promote compliance of legal department to operate their own workflow. By this, it means the waiting time for IT professionals to gather and send documents for processing is reduced.
- Move Ahead of Other Firms
There is no doubt that the utilization of electronic discovery software makes a significant effect on the business. For business owners who wanted to get ahead of the game, they must adapt to the changes in the eDiscovery technology. With the assistance of the right electronic discovery platform, tasks can be performed faster than the competitors.
However, despite knowing the importance of eDiscovery software in the business, 71% of lawyers are not taking full advantage of the use of eDiscovery technology while a little over 70% of attorneys working in a small law firm are not planning to invest in electronic discovery tool within the next year. Furthermore, 54% of the subjects reported that eDiscovery platform is costly. This information was revealed in a survey conducted by Sagacity Technology Consultants Llc.
- Work/Life Balance
A big factor that influences productivity is work/life balance. If we can use technology to save time, why not make the most of it? For instance, most of us prefer to use washing machines than manually washing clothes because the former conserves our energy and allows us to spend time with our family. Moreover, technology enables us to multi-task. For instance, through the use of washing machines, we can do the laundry and cook at the same time.
The same is true with eDiscovery. If we can purchase a tool that can simplify the discovery process and saves our time and effort, are we going to take this for granted? The increasing number of data to be collected, reviewed and filtered for a case can consume a lot of your time including those that should be spent with your loved ones. Remember, you can earn the amount of money used for purchasing an eDiscovery software but you cannot return the time that is lost. Plus, having an enhanced work/life balance promotes a better quality of life. On the other hand, a poor work/life balance can result in stress-related diseases, high attrition rate, unproductivity, divided attention and less revenue.
- Prepare for the Future
Aside from supplementing human intelligence, the use of electronic discovery software saves corporate legal department from being sued due to discovery-related legal malpractice and other breach issues. As mentioned, unpreparedness may result in a huge loss of revenue and destruction of the company’s reputation. If these things can be prevented by a smart lawyer with the aid of artificial intelligence, the business can last long.
Keep in mind, business owners get ready to achieve great success in the future. They do not prepare just to experience the bitterness of failure. Even though failure is a part of the victory, if this can be prevented, there is no need to suffer the consequence of it. Also, the loss of huge money may result in the closure of the company.
Alongside the increasing number of computing power is the growing amount of electronic data. Currently, it may seem manageable without an electronic discovery tool. However, time will come that eDiscovery would be impossible to manage without a software. As mentioned by Cecilia Thoerngren, a Marketing Director at Everlaw, the costs of not acquiring electronic discovery software today may result in loss of current opportunity not to mention the forfeiture of a chance to be ready for the future.
- Data Security
It is difficult to manage data security and this becomes more challenging with the eDiscovery process. Any type of breach may result to despoiling from the opposing team and can also result in sanctions. In order to maintain data security, a reliable electronic discovery tool that prevents threats from security attacks and preserves data integrity must be selected. When it comes to litigation matters, security is a top priority. In addition, the use of Cyber Security tool to detect malicious codes and protect the network from threats is another must-have.
The use of electronic discovery software is often underestimated by corporations and law firms. Despite knowing its importance, most companies do not take full advantage of eDiscovery platforms because of its price. However, since more and more electronic discovery tools are existing in the market, some eDiscovery companies are offering the software at an affordable cost. If you have the means, why not invest in eDiscovery software?
Are you planning on purchasing an electronic discovery tool? It is vital to read eDiscovery software reviews first to find out which platforms are cost-effective and suitable for the needs of your company. Check out CrowdReviews.com for the rankings of top electronic discovery software.
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