For many law firms, it can be all too easy to lose track of the cost of identifying, collecting, and producing admissible evidence. If you don’t have access to the appropriate technology, it could be impractical to handle eDiscovery in-house. Fortunately, managed eDiscovery services offer a cost-effective method to process extensive and complicated ESI.
In this article, we’re going to explain the process of managed eDiscovery and we’ll discuss the merits of the service. Let’s get started!
What is managed eDiscovery?
If you’re routinely hiring an outside firm for electronic discovery, you know how time-consuming that process can be. In many cases, it can also be very expensive because you’ll be responsible for any switching costs associated with switching discovery platforms. Changing software frequently leads to decreased productivity because it takes time to install the program and for users to acclimate to the system.
Whether you’re creating a new contract for each case or constantly familiarizing your teams with different software, it can be nearly impossible to predict discovery costs. This is where managed eDiscovery comes in!
Managed eDiscovery is a type of long-term contract that allows a law firm to take advantage of unlimited electronic discovery services, typically for a period of three years. Working with a single vendor means that law firms can lower overall costs, eliminate a major operational challenge, and ensure that discovery is performed by a trusted third party.
How can managed eDiscovery benefit my firm?
One of the reasons that law firms typically try to perform eDiscovery in-house is because it allows for increased control over the process and it generates cost savings. With managed eDiscovery, you could realize the same overall savings – or even exceed them! This is because you can eliminate wasted employee hours and decrease the chance of costly errors that lead to duplicate work. Instead, you’ll work with discovery experts, who can deliver speed, efficiency, and scalability. By entrusting your ESI to a reliable service provider, you can spend more time on core business needs.
How can managed eDiscovery benefit my clients?
Working with a managed eDiscovery service helps you to save money and time, which can be passed along to your clients. By investing in a system with fixed costs, you can increase cost predictability. Furthermore, working with eDiscovery experts is an efficient solution that can generate faster case results. Your partnership with your service provider can also increase client satisfaction and trust because you’ll now have a scalable discovery solution that can handle larger and more complex cases.
Final Thoughts
Thanks for reading! We hope we’ve been able to clearly explain how managed eDiscovery works and how it can positively impact your business. These services are a great option for law firms that want a flexible, scalable solution at a predictable cost. If you enjoyed this article, let us know on social media!
Please don’t hesitate to contact us with any questions or concerns. At First Legal, we’re here for you from File Thru Trial™!
