Reduce Your Legal Exposure and eDiscovery Costs
The status quo in most offices is something we call Content Chaos. Documents and unstructured data are currently stored:
• in unmanaged repositories
• across multiple platforms
• with little or no documentation as to each repository's contents, and
• without a cohesive policy for retention or destruction.
Because multiple staff members regularly need access to the same documents:
• Multiple copies of many documents are typically made, and retained in places convenient only to that staff member
• Emails are forwarded back and forth, as is conducive for doing one?s day-to-day work, and
• Multiple copies of these emails wind up being stored in each staff member's personalized Outlook® file, and in various conveniently named folders.
• Word processing documents, spreadsheets and other electronic files may be stored on a central server, but work-in-progress versions are usually stored on individual staff members? local hard drives
• Some employees may bring files in, or take files home on a USB drive to facilitate working from home.
In addition to the numerous legal exposures and regulatory compliance issues in this scenario, the electronic discovery (eDiscovery) costs by themselves, associated with one single lawsuit could bankrupt you. Yet this scenario, extreme as it may sound, is precisely the state of email and document storage in many offices today.
Restoring uncatalogued email messages can cost roughly $2 per message (Vedder Price Kaufman & Kammholz)
Each employee in an average organization sends & receives an average combined total of 52.5 emails per day. (MessageGate)
Now, take those two statistics and do the math. It can cost over $27,000 per employee to discover, access and restore just ONE year's worth of emails.
The cost of having attorneys review only 2,500 documents during a recent litigation cost $400,000 [$160 per document] (Wall Street Journal Law Blog);
The cost of restoring, processing, converting to readable TIFF/PDF format and reviewing the contents of backup media can exceed $6,000 per GB (Digital Mountain)
Each employee in the average organization generates between 1 and 2 GB of backed up information each year (Deloitte Financial Advisory Services).
Could you afford these legal costs?