The most popular and comprehensive Open Source ECM platform
Let us know more
Discovery: Businesses Need to Be More Proactive in Establishing Data Management Best Practices
Many large organizations still struggle with being able to respond to litigation and regulatory requests. A recent survey by Control Risks and the Economist Intelligence Unit found that nearly two-thirds of organizations are not able to retrieve information requested for litigation in a convenient or timely fashion. Data management tools that are particularly useful for quickly and accurately responding to discovery requests include predictive coding, concept clustering, email threading and advanced search.
- Two-third of global businesses say that the number of data protection laws which they need to comply with are increasing and complicating their operations
- Two-third of global businesses also say that they’re increasingly spending more money on technology to help them manage data related to litigation and regulations
Regulations describing how data can move between locations can significantly complicate business operations. The report notes that “technology is more able than ever before to transfer data between locations, whereas data privacy and state jurisdictional regulation are pushing in the other direction.”
Despite an increasingly complex working environment for the search, handling and management of data, many organizations don’t have a plan in place for being able to respond to a regulatory or eDiscovery request. More than a quarter of polled global businesses said that they don’t have a response plan because it doesn’t make sense to have a plan in place before seeing all the details of a particular request. The problem with that though is that there is often very little time to respond to requests once they are made. 10 percent admitted that the plan response plan that they do have is likely to be inadequate.
The report concludes that there is “a strong need for organizations to be proactive in establishing best practices for data management, including utilizing state-of-the-art legal software coupled with an expert legal technology team. Doing so will not only increase the speed of corporate business cycles, but guarantee companies are using best practices in the gathering, storage, retrieval, and protection of data.”
