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The Hidden ROI in eDiscovery…Faster, Better, Cheaper…! Part I

Faster, better, cheaper was the mantra at NASA as it set goals to improve quality, efficiency and better manage costs after Ted O'Neilseveral setbacks…it was a way to set goals and measure success from a “top down” approach of looking at it from all perspectives and seeking to better quantify risks & rewards in various programs…expect quality, but demand efficiency!!!

Faster, better, cheaper was clear theme from LegalTech 2011…good Information Governance makes good business sense!

The hidden Return On Investment in eDiscovery lies in understanding the entire spend…not just the obvious third party costs and understanding and quantifying risks in the current process.

I have been working with several clients in developing business cases and ROI models to frame the various challenges and drive strategic initiatives.  The key to success is having developed a “base-line” understanding of the current process & identifying all key players.  The nature of eDiscovery tends to affect IT, RM, the Business and of course, Legal.

As “beauty is in the eyes of the beholder”…all parts the organization affected by the process sees this from a different perspective should be included in the dialogue.

Key drivers in these initiatives is cost take-out and optimization of eDiscovery & regulatory compliance processes.  Understanding the current state of the process, people involved, key processes & technology to get visibility & control of the process…this is typically an evolution over time and requires a continued commitment to total quality management.

Best Practices that cut across the broad theme of Faster, better, cheaper:

  • Identify all the “stakeholders” & process owners
  • Identify all “Consumers” of ESI
  • Define cost of current process
  • Understand the organization’s “Legal Profile”
  • Form cross-functional team to drive change

Understanding all these different elements of the People, Process & Technology in your eDiscovery process is the key to controlling costs & mitigating risks.

Our team has developed an easy-to-use “eDiscovery ROI Calculator”, which is now available for the iPad.

If you would like to discuss this topic further…please comment below or send an email at ted.oneil@emc.com.

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