Money, Money, Money
As everyone knows, businesses are becoming more and more focused on controlling expenditure due to both sound business practice and the general economic downturn. The cost management regime in the UK courts puts additional emphasis on the need to set and adhere to budgets for parties involved in litigation. In a regulatory context, corporates often see the benefits of carrying out pro-active compliance audits but can be put off from reviewing electronic documents due to (sometimes misplaced) concerns about escalating costs.
I have worked in the edisclosure business for 9 years now and can tell you that there are three main areas in which edisclosure pricing is generally criticised: it is considered to be too expensive and/or too unpredictable and/or too difficult to understand. Add to that the difficulty in accurately comparing pricing from different suppliers and you have a nightmare scenario for law firms and their clients.
At Kroll Ontrack, we recognise these concerns and have introduced new pricing models with the overriding aim of simplifying and providing certainty to clients for edisclosure costs. These models help not only our clients who need our assistance on individual matters but also those who are looking to outsource all of their edisclosure projects for a fixed monthly fee.
In response to these pricing models, Mark Surguy, partner at Eversheds has commented as follows: "The significant volume of corporate data, the new civil procedure rules on costs budgeting and the difficult economy have put e-disclosure costs in the limelight. Kroll's innovation in addressing the issue is exactly the kind of flexibility we need to get these projects executed commercially."
For more information on these pricing models please contact us to discuss them
Next week, Graham Jackson will be writing a blog post on data breaches. You can see a preview below.
Andrew Szczech, Sales Director, Legal Technologies