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ECM: Destroying the American System of Justice
“The failure of business to adopt enterprise content management is destroying the American system of justice,” says attorney Ralph Losey. Losey says that many companies today when confronted with allegations simply decide to pay to cough up a settlement fee, rather than to even attempt to defend themselves, because of the huge sums that are needed for the e-disovery component of the defense.
Litigants today spend, on average, $10 million per lawsuit in e-discovery costs. Fannie Mae, for example, was supoenaed to deliver all documents that contained any from a list of 400 keywords. That resulted in them searching for and turning over 660,000 emails at a cost of $6 million. Review costs typically range from $3 to $10 per file.
ECM could certainly be used by these companies to drive down the costs involved in the discovery process. The money saved on a single lawsuit, had companies been more proactive, could easily have been better used to have put into place a sophisticated content and data management software. And those ECM system can deliver benefits that extend well beyond being prepared for a request for e-discovery.
