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eDiscovery: Businesses Continue to Struggle with Information Retention
It’s another year and time for another survey to report that most organizations have data retention programs that are incomplete or severely lacking, leaving themselves exposed to the legal and financial risks of an eDiscovery request.
A Symantec survey looked at the state of Information Retention and eDiscovery programs as of the end of 2012. In the Symantec suvey, 60 percent of organizations said that they have a formal retention plan, but only 34 percent have been able to implement a plan. Another 35 percent of organizations say that they don’t see any need to have a plan at all.
Similarly, a survey by the eDJ Group found that while two-thirds of organizations have drafted processes for dealing with legal holds, less than half of those organizations have developed or purchased tools to automate or track legal holds.
Trevor Daughney, Director, Information Intelligence Group at Symantec, said that “although there is a reduction in the number of organizations without an information retention plan, organizations haven’t fully funded and implemented their plans. With the number of ESI requests and failures to obtain requested information increasing, organizations face risks that are much more costly in the long run than implementing their plans.” Daughney further commented on a blog post titled “If You Fail to Implement Your Information Retention Plan, Then You Plan to Fail“.
The Cowen Group reports that 70 percent of law offices report a surge of new workload related to eDiscovery requests in 2012.
