Transitory documents and email are destroyed according to published policy and therefore the organization benefits from lower storage and discovery costs. Potentially HUGE cost savings are realized through lower discovery costs, lower sanctions and fines, and via the ramifications of NOT failing audits due to lack of documentation
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And all that Big Data piling up has real costs: The burden of massive stores of information has increased storage costs dramatically, caused overloaded systems to fail, and increased legal discovery costs. Further, the longer that data is kept, the more likely that it will need to be migrated to newer computing platforms, driving up conversion costs; and legally, there is the risk that somewhere in that mountain of data an organization stores is a piece of information that represents a significant legal liability
Therefore, it does not matter if your organization has declared “official” records, all content whether declared or not is discoverable. Discovery costs are very high
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In one project, we talked with the end users about various companies that had higher discovery costs or unintended legal consequences
An appeals court upheld a lower court’s finding of contempt for not being able to find all the records, despite spending $6M in discovery costs. But the costs represented a whopping 9% of the small agency’s entire annual budget
The result of the changes include dramatically increased discovery costs and the birth of a new industry complete with specialized technology and specialists to sell it, but it also presents an opportunity for Records Managers to get on the radar of their General Counsels
Even though advanced information access technologies are available to help minimize these costs, many legal professionals do not yet have these tools in place, and for those that do, they are still confronted with the primary challenge to effectively managing e-discovery costs: the continued addiction throughout organizations to keeping and storing too much electronic data
If you want to focus on decreasing your discovery costs (rather than risk), then address PAR and Early Case Assessment
But it very well might also give us a competitive advantage if we could lower our e-discovery costs and risks below industry averages and invest those savings back into building other key business capabilities
I had no idea blogging would be so educational FOR ME. Putting an idea out there and getting input on it really forces you to refine your thinking. So, I am going to take this opportunity to revise my previous statement that “ Everything is a record ” as follows: Record or non...
16 Comments - Legal discovery drives the argument to consider everything as a record, because everything is discoverable - whether it is a declared record or not. Discovery costs are high so there is pressure to make records easier to find and to remove the clutter in a defensable way