The 3rd Annual Study of Effective Legal Spend Management evaluates the prevalence and effectiveness of five methods used to manage e-discovery spend
PORTLAND, Ore., May 14, 2019 – Exterro® Inc., the preferred provider of software specifically designed for in-house legal and IT teams, along with the Blickstein Group, today announced the release of the 3rd Annual Blickstein Group/Exterro Study of Effective Legal Spend Management: An In-Depth Look at E-Discovery. The study has been designed to understand how corporate legal professionals are managing litigation, and specifically e-discovery, spend. Sixty-nine respondents answered questions on current e-discovery spend, projected future e-discovery spend, budgeting, and effectiveness in controlling costs.
“The results of this year’s Effective Legal Spend Management: An In-Depth Look at E-Discovery study shows that bringing e-discovery house is one of the most effective ways of managing spend. As Exterro clients have experienced, bringing more e-discovery work in-house will not only reduce overall spend, but also will provide organizations more insights and efficiencies into their entire e-discovery process,” said Bill Piwonka, CMO at Exterro.
The report shows that reducing e-discovery spend continues to be a priority for most law departments, with 72.5% of respondents saying it is a major initiative for their legal department in 2019. When looking at the effectiveness of various initiatives in controlling e-discovery spend, the most effective are bringing more of the process in house and using e-discovery technology with 94% of respondents who employ these strategies finding them effective.
"It's clear that the results of this year's study that law departments are getting pretty good at managing their e-discovery costs despite increasing data volumes. They identified five different strategies that, when employed, are viewed as effective by at least 89% of the respondents," said Brad Blickstein, Principal at the Blickstein Group.
The survey was completed in the spring of 2019 by sixty-nine in-house legal professionals from a variety of industries and organization sizes. Download the full report here.
Exterro was founded with the simple vision that applying the concepts of process optimization and data science to how companies manage digital information and respond to litigation would drive more successful outcomes at a lower cost. We remain committed to this vision today as we deliver a fully integrated Legal GRC platform that enables our clients to address their regulatory, compliance and litigation risks more effectively and at lower costs. With software solutions that span privacy, legal operations, compliance, cybersecurity and information governance, Exterro helps some of the world’s largest organizations work smarter and more efficiently. For more information, visit exterro.com.
Ron J. Rambo Jr.
Marketing Content & Communications Manager