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Compliance: Companies Lack eDiscovery
Companies are worried about eDiscovery. That’s the result of a survey commissioned by Xerox Litigation Services. While as many as 95 percent of the companies surveyed felt that they’d be able to address an eDiscovery investigation to some extent, only 29 percent felt that they’d be fully prepared.
eDiscovery requires companies to produce evidence from emails, notes, memos and database information to support a company’s process and thinking. Legislation and regulatory compliance demands that many companies be prepared for eDiscovery.
Respondent’s reasons for worry included:
– 42 percent — Slow turnaround
– 41 percent — inadequate system support
– 41 percent — Data investigation software lacking important features
– 38 percent — Unable to internally support a document review system
eDiscovery is an area that is ripe for outsourcing. Many companies are small and lack appropriate IT support to maintain a system for eDiscovery. Many of the survey respondents cited outsourced document management as more cost effective and time efficient than attempting to set up and maintain a system internally.
