How Much Should You Be Spending on eDiscovery Software?
Venio Systems
by Ankur Agarwal
2y ago
eDiscovery can be an expensive aspect of any legal case — it accounts for 20-50% of all litigation expenses. As organizations, firms, and service providers look to bring eDiscovery entirely in-house, they must consider the costs associated with it to ensure it meets their budget. How much should you spend on eDiscovery software? Several factors contribute to costs, and each eDiscovery platform charges differently. Understanding how each of these will impact your expenses can help you better plan your budget. Ultimately, you want to reduce your total spend compared to what you’re paying now, wi ..read more
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8 Things About eDiscovery Platforms You May Not Know
Venio Systems
by Ankur Agarwal
2y ago
The landscape of eDiscovery software continues to evolve with lots of options to support various users, from in-house legal teams to large law firms to government entities. In many cases, organizations outsource eDiscovery processes because they don’t have the tools or resources to manage it themselves. However, a shift is occurring to bring those activities back in-house. Gartner predicts that by 2023, more than 70% of enterprise IT leaders will upgrade to an end-to-end eDiscovery platform, up from 10% in 2019. If that’s the path you’re on, what do you need to know about this type of software ..read more
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The Next Big Thing in eDiscovery Platforms
Venio Systems
by Ankur Agarwal
2y ago
The landscape of eDiscovery platforms is expanding. According to analysts, the global market value of the industry was $9.3 billion in 2020. The projection for 2025 is $12.9 billion, growing at a compounded annual growth rate of 6.6%. It’s come a long way since the inception of eDiscovery in 2005. As the amount of data and its multiple sources continues to grow, even for small cases, the need for eDiscovery software is critical. With so many options, how will you know the right parameters and criteria to select your next eDiscovery platform? And what’s the next “big thing” you should expect fr ..read more
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The Most Common Mistakes Law Firms Make When Choosing an eDiscovery Platform
Venio Systems
by Ankur Agarwal
2y ago
Implementing an eDiscovery platform requires research, preparation, and an understanding of how systems can tailor to your workflows. Law firms are experts at the legal process of eDiscovery. Using software to power the process can be a new endeavor — but it’s one that can bring substantial benefits to your practice. Because there are many solutions available, you’ll want to plan out your strategy for deployment and avoid these common mistakes that firms can make when choosing a platform. 1. Going in Without a Comprehensive Understanding of the Technology. It’s imperative to do your research o ..read more
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Are You Getting the Most Out of Your eDiscovery Platform?
Venio Systems
by Tom Wood
2y ago
The purpose of an eDiscovery platform is to drive efficiency in the legal discovery process. Most cases include massive amounts of data. As a result, you need a solution that can find the relevant information fast, reduce review time, and automate manual processes. Not every eDiscovery platform can do all these things, so how’s your system working for you? If you’re unhappy with your system’s quality, performance, and/or productivity, then it’s time to implement something that meets your needs and powers your success. What Are the Key Areas of Optimization? In every software category, optimiza ..read more
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The Best Advice Service Providers Could Ever Get About eDiscovery Software
Venio Systems
by Tom Wood
2y ago
Those providing eDiscovery services have unique challenges. They can range from ensuring data security for their clients to meeting impossible deadlines. You’re also prioritizing retaining your biggest accounts and increasing market share. One of the best ways to meet all these goals is to adopt an end-to-end eDiscovery software solution. However, many options are available that range in features, usability, roadmap, value delivered, and many other factors. So, what do you as a service provider need to know about choosing the right platform? Choose a Solution That Simplifies the Complexity of ..read more
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How To Sell eDiscovery Software to a Skeptic
Venio Systems
by Tom Wood
2y ago
For any company dealing with a high volume of eDiscovery, sending it to a third party may seem like an efficient and cost-effective approach. However, this process comes with challenges and concerns. It severely increases your data security risks, and it’s very costly. Additionally, it may not always be complete by your deadlines, forcing you to either take shortcuts that could add to the risk or ask for an extension that the court may or may not grant. What’s the alternative that can alleviate these pain points? eDiscovery software that’s easy to use and empowers your in-house staff to contro ..read more
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6 Common Misconceptions About Electronically Stored Information
Venio Systems
by Tom Wood
2y ago
The collective assumptions about electronically stored information (ESI) in eDiscovery are often inaccurate. These misconceptions keep some businesses from adopting the technology that will help them identify, gather, review and produce ESI. If you’re unsure how eDiscovery software works to manage ESI, then start by learning these facts: Why are there misconceptions about ESI? ESI is a broad term and includes many types of documents and data. This, in itself, can cause confusion. Since the term first appeared in the 2006 amendments to the Federal Rules of Civil Procedure, there have also been ..read more
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3 Things Every Corporation Should Know About eDiscovery Tools
Venio Systems
by Tom Wood
2y ago
If you want to uncover all the facts and the truth in a case, it all starts with discovery. However, the days of laboring over physical documents are over. Technology changed the game, ushering in the era of eDiscovery tools. There’s no longer any reason to go hunting through a physical “haystack” to find the informational “needle” you’re looking for. Instead, these days that needle is going to exist in some sort of digital format, and chances are, that haystack is going to be a massive collection of data in a variety of different formats. But you still have to find it. Clearly, the old tools ..read more
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ECA – First Step in In-House eDiscovery
Venio Systems
by Tom Wood
2y ago
Making the transition to a full, end-to-end eDiscovery solution holds many benefits for corporations, law firms, legal service providers and other organizations, but it can be difficult for a variety of reasons. One way to get started is to employ an ECA solution as a first step. In this blog post, we’ll examine how it can be accomplished.   There are significant challenges involved in going directly into end-to-end eDiscovery. Early Case Assessment (ECA) is the ideal foundational step to a full eDiscovery solution. Most organizations follow a similar eDiscovery journey. The ECA workflow ..read more
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