Legal Process Outsourcing
The rise in eDiscovery technologies and outsourcing
Data management was hard enough with litigation risks, data encryption, forensic analysis, and compliance requirements. What made it worse is the recent pandemic that has spawned lawsuits, complicated data discovery and legal-hold management, and strained budgets.
Additionally, the amount of structured and unstructured data in physical, on-premise, and cloud-based systems at modern enterprises has grown exponentially. As a result, it has become demanding to:
- Determine where exactly data resides
- Streamline processes to handle data
- Optimise data storage, collection, and security
- Follow protocols and best practices
- Efficiently manage the entire data lifecycle
Here’s looking at some challenges in electronic discovery and industry trends.
Key challenges in eDiscovery
Your data is critical to the resolution of a case. However, the sheer volume and complexity of data stored and processed by companies today complicate the process of investigation or litigation.
Multitude of diverse data sourcesThe switch to remote work and related issues, including the travails of administering data and keeping it secure across digital devices and systems, makes it difficult for businesses to stay on top of things (even with an internal information management system in place).
Internal investigations and compliance mattersIssues like sexual harassment, internal fraud, and malfeasance are placing an unprecedented burden on corporations to investigate a larger number of cases and manage litigations internally.
Data surge and data securityThe monumental rise in the amount of data is straining businesses in terms of managing data security. According to a report, up to $223 billion of the world’s top 100 brands’ value could be at risk from data breaches. Breaches take much longer to be discovered, especially if you do not have the infrastructure or technologies to manage such threats.
The rise of eDiscovery and the benefits of outsourcing
Corporate legal teams have struggled with budgets, bandwidth, and technology to manage eDiscovery internally. This challenge has taken centre stage during the pandemic.
In fact, 38% of law firm partners said that they are now open to offshoring their eDiscovery requirements, while 16% of corporate respondents expressed a willingness to work with a provider to outsource their eDiscovery needs.
Given these developments, the global eDiscovery market size is expected to grow from $9.3 billion in 2020 to $12.9 billion by 2025, at a CAGR of 6.6%.
These facts and figures support the fact that eDiscovery outsourcing delivers a range of benefits for businesses.
Here’s a look at just a few.
Cost-effective servicesInvesting time and resources internally can be an expensive affair. Instead, outsourcing your eDiscovery needs to an experienced partner can help you save on costs and pay only for services that are tailored to your unique needs.
Access to eDiscovery tools and solutionsWith an experienced eDiscovery partner, you can get eDiscovery tools and solutions that encompass scalable information management, preservation planning, disclosures, legal-hold implementation, electronically stored information (ESI) processing, document review and production, and more.
Expertise of the providerData collection, processing, and analysis not only need the right software but also demand an expert team that understands the legal aspects of eDiscovery and adapts to the latest trends and technologies.
Future trends in eDiscovery
While the current scenario already emphasises the need for eDiscovery outsourcing, here’s how the following industry trends accelerate the outsourcing process:
- Data security and privacy will continue to be the top priority for organisations, with the origination of newer threats and demand for stronger privacy rights grow.
- Remote working will continue in the foreseeable future, influencing recruitment trends within the legal tech industry.
- The flood of data from sources, old and new, will generate new eDiscovery challenges, leading to a direct increase in litigation and workloads.
- There will be more interest and investments in potential artificial intelligence (AI) enabled eDiscovery, machine learning (ML), and predictive coding technologies.
- eDiscovery will play a prominent role in BFSI enterprises to navigate complexities in entries and regulatory compliance.
How can Infosys BPM help?
As a leading eDiscovery solution provider, Infosys BPM offers end-to-end legal outsourcing services in eDiscovery - from identification to data hosting and production. We help create a more streamlined and affordable legal and eDiscovery process that accelerates the review and analysis of ESI.
Our approach has helped clients keep pace with the information explosion and reduce their review costs and total cost of litigation.
Find out more about the advantages of our end-to-end eDiscovery service offerings.