Making Cents Out of Ediscovery Costs [Webinar]
Ediscovery does not have to be expensive. By utilizing the newest technologies, engaging in skillful preparation and obtaining knowledge of the process, you can keep ediscovery costs down. Kroll Ontrack’s latest webinar, Cost-Effective Ediscovery: How to Manage Expense and Reduce Waste provides useful tips and suggestions from three seasoned ediscovery specialists. These experts provide law firm, corporate and provider’s perspectives:
Don’t Be Late to Adopt New Technology
The myth that human review is the gold standard, as well as apprehension on how a court regards technology has led some practitioners to shy away from taking advantage of technological opportunities. However, as the webinar panelists discuss, predictive coding is an untapped resource for practitioners aiming to cut ediscovery costs.
Don’t Just Buy Ediscovery: Manage It
The webinar discusses that keeping ediscovery costs in check is not as simple as choosing the right provider. While setting a budget and considering fee schedules are important, this is not all that needs to be done to influence ediscovery costs. Panelists suggested:
- Monitoring costs along the way; ask for regular updates
- Communicating with corporate, law firm and provider representatives; lack of communication increases costs
- Cooperating with opposing parties where possible; come to an agreement on things such as the number of custodians, production parameters and document review protocols
Don’t Miss the Opportunity to Get Proactive
Being prepared for ediscovery saves downstream costs. Webinar panelists highlighted the importance of ediscovery assessments and postmortem evaluations in pinpointing risks and identifying cost reduction recommendations across discovery response plans.