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Daegis, a leading provider of eDiscovery solutions, today announced its new
Cross-Matter Management Savings and
Document Review calculators. Designed by Daegis expert eDiscovery consultants, these free online tools help legal counsel better predict costs and timelines associated with eDiscovery, allowing for more targeted budgeting and greater cost predictability.
According to a recent ALM eDiscovery Market Study, survey respondents overwhelmingly identified review, processing and analysis as the top three most expensive segments of the EDRM. Seventy-five percent identified “review” as among the three highest areas of spend, followed by “processing” (50 percent) and “analysis” (43 percent). A 2011 report by Gartner corroborates these findings. According to Gartner, between 2007 and 2010, eDiscovery costs declined in every EDRM segment except for processing, review and analysis. With over half of the ALM survey respondents claiming to spend more than $100,000 on eDiscovery for each matter, effective budgeting in the areas of processing, review and analysis is a high priority, especially for serial litigants who must allocate budgets across multiple matters.
“One of the greatest challenges faced by in-house and outside counsel alike is the unpredictability of eDiscovery budgets,” said Kurt Jensen, executive vice president of Daegis. “Even as businesses and law firms gain more experience with the eDiscovery process and the technologies and services that enable it, legal teams encounter many inefficiencies when they use a case by case approach. Daegis’ extensive experience building a legal data repository for proactively managing eDiscovery projects where multiple related matters are involved gave us the insight to build these calculators. Our intent is that the increased transparency they bring around costs savings and budget predictability sheds some light on the budgeting issue.”
Daegis’ Document Review Calculator allows clients to input assumptions about project deadlines, the number of reviewers and other factors, in order to forecast the budget and reviewer requirements necessary to complete the review within the target timeframe. The Cross-Matter Management calculator, based on Daegis’ cutting edge Cross-Matter Management methodology, allows users to enter matter and pricing assumptions for both initial and subsequent matters, and then view the resulting financial savings in areas such as collection, processing and review.