[Editor’s Note: EDRM is proud to amplify the educational efforts of our newest Trusted Partner, Venio Systems.]
eDiscovery can be an expensive aspect of any legal case — it accounts for 20-50% of all litigation expenses. As organizations, firms, and service providers look to bring eDiscovery entirely in-house, they must consider the costs associated with it to ensure it meets their budget. How much should you spend on eDiscovery software?
More advanced features, such as artificial intelligence-assisted review, in-place indexing, intelligent error handling, tagging, native redaction, and more could be line items.
Team Venio
Several factors contribute to costs, and each eDiscovery platform charges differently. Understanding how each of these will impact your expenses can help you better plan your budget. Ultimately, you want to reduce your total spend compared to what you’re paying now, without any compromise in quality, speed, or functionality.
The cost drivers of eDiscovery explored include:
- Data Management
- Proceessing Data
- Training Expenses
- How You Host
- Licensing Fees
- Number of Features
- Hidden Cost of Integrations
