Legal Process Outsourcing
Ensure your company meets regulatory standards with electronic discovery services
Electronic discovery, or eDiscovery, is essential for modern businesses facing unprecedented data regulations. Managing data properly ensures that organisations remain compliant with legal and regulatory standards while minimising legal exposure. According to Gartner, over 80% of organisations will face compliance failures if they don’t implement robust data management solutions by 2025. The growing complexity of regulatory requirements highlights the need for electronic discovery services, as it streamlines data management and ensures compliance with legal obligations.
Compliance requirements in the industry
Globally, various regulations impose strict data management and privacy requirements. To understand how eDiscovery compliance solutions aid organisations with compliance, we must get a detailed overview of some of the most significant standards:
- General Data Protection Regulation (GDPR): Enforced across the European Union, GDPR mandates strict data protection and privacy protocols, with significant penalties for non-compliance.
- Health Insurance Portability and Accountability Act (HIPAA): This U.S. regulation governs the handling of Personal Health Information (PHI) and requires organisations to implement safeguards to protect patient data.
- California Consumer Privacy Act (CCPA): This state-level law enhances privacy rights for residents of California, requiring businesses to disclose data collection practices and allow consumers to opt out of data selling.
- Federal Information Security Management Act (FISMA): FISMA requires federal agencies to secure information systems. The act secures sensitive federal data.
- Payment Card Industry Data Security Standard (PCI DSS): This standard mandates that organisations securely handle credit card transactions.
- Personal Information Protection and Electronic Documents Act (PIPEDA): In Canada, this act sets the rules for how private sector organisations collect, use, and disclose personal information.
Integrating eDiscovery compliance solutions enables organisations to efficiently meet regulatory standards, ensuring that their obligations related to data retrieval, privacy, and protection are consistently upheld.
The role of eDiscovery in compliance
Now, let’s explore how eDiscovery can support these regulations. eDiscovery plays a pivotal role in assisting organisations in meeting regulatory standards. Here are key ways electronic discovery services contribute to compliance:
Data identification and preservation: eDiscovery solutions enable businesses to systematically identify and preserve relevant data before it is altered or deleted. This proactive approach mitigates the risks associated with data loss during legal proceedings or audits.
Efficient data retrieval: With advanced search capabilities, eDiscovery tools facilitate rapid data retrieval, ensuring that organisations can quickly respond to regulatory requests and legal inquiries. This efficiency is critical during audits, where timely access to data can determine compliance outcomes.
Audit trails and reporting: eDiscovery solutions provide comprehensive audit trails that document every step taken during data collection and analysis. These records are invaluable during compliance reviews, as they demonstrate adherence to regulatory requirements.
Data security and protection: eDiscovery services often include robust security measures to protect sensitive data from unauthorised access. This is particularly important for industries dealing with personal health information or financial data.
Strategies to use eDiscovery effectively
Managing and retrieving critical data in the event of a regulatory audit is essential. While eDiscovery services are sure to help, implementing a few strategies can maximise the benefits of eDiscovery compliance solutions.
- Establish a clear data governance policy: Define how data is collected, stored, and managed to ensure compliance with regulations and internal protocols. This foundational policy helps guide all data-handling practices.
- Utilise automated electronic discovery services: Streamline data collection and retrieval processes with automation. This significantly reduces the time required to locate relevant information, enabling quicker responses to regulatory inquiries.
- Conduct regular training for employees: Educate staff members on eDiscovery best practices and compliance requirements. Well-informed employees are better equipped to handle sensitive data, reducing the risk of non-compliance.
- Invest in robust security measures: Protect Electronically Stored Information (ESI) with strong security protocols. This is crucial for safeguarding data from breaches and ensuring compliance with security regulations.
- Leverage advanced analytics: Use analytics within eDiscovery solutions to enhance data review processes. Analytics can help identify patterns and anomalies, leading to more informed decision-making regarding compliance.
By implementing these strategies, business leaders can ensure that their organisations are well-prepared to handle regulatory requirements and legal challenges and reduce costs and legal exposure.
How can Infosys BPM help with electronic discovery?
Infosys BPM offers comprehensive eDiscovery managed services. These solutions include advanced data processing, identification, and review tools that ensure compliance with global regulatory standards. The electronic discovery services help organisations streamline data management processes, reduce legal risks, and improve operational efficiency by leveraging industry-leading eDiscovery compliance solutions.