How To Save At Least A Million Dollars In EDiscovery Costs Georges jon
There are several workflows and operations that can be automated in most eDiscovery environments. This can generate substantial savings, while increasing your productivity and billable activity. For example, have you heard of Rampiva? This company provides a workflow automation tool that can both speed up processing (allowing you to start revision much faster) and reduce the number of people dedicated to processing, or conversely increase the number of projects and how much data your processing team can handle within a given time frame.
For example, we recently worked closely with a client to implement Rampiva. This organization had 12 full-time (well-paid) people who regularly took care of the treatment. After implementation, they only needed four people to handle the routine treatment. This allowed their employees to focus on complex tasks and work on higher level and generally billable tasks, which allowed the client to earn more income with the existing staff. This initiative also had an impact on productivity. Whereas before implementation only 20% of cases were available for review within 24 hours, after implementation almost 80% of cases were ready for review within 24 hours.
We estimate that this client saved at least $ 500,000 per yeary. While there is a cost to deploying the software, the savings that can be achieved over several quarters far exceed the initial costs. What might this look like for your organization? It all depends on how many cases you are dealing with and how many staff you have dedicated to processing today. But let me give you a fairly common scenario. Let’s assume:
- You have three people to perform a variety of tasks including setting up datasets, setting up the project, launching, and monitoring.
- You have one or more eDiscovery application experts involved in the quality assurance of the processed datasets.
- You have a governance expert who oversees operations to ensure compliance with standard operating procedures.
Suppose also that the cost of these five highly paid employees is around $ 750,000. Automation could help you reduce the costs associated with processing to around $ 250,000. With an automation tool like Rampiva, you could most likely reassign three of those five people to more profitable tasks, rather than trying to hire additional staff in today’s tight eDiscovery talent market. During this time, you get happier customers. Since Rampiva divides your data processing into smaller units, processed data is available on review platforms much faster than the traditional manual method.
The human costs of your operations may not look exactly like this. You can have a lot more or a lot less people involved in processing and staging the data. But my point still stands. If you haven’t yet figured out how automation can improve your operating environment, I suggest you give this a serious thought. In my experience, Automation can reduce overall processing costs by 60-70%. It can also free up staff to work on projects that can earn you money or expand your portfolio of service offerings.
There is yet another reason to consider automation:better return on investment on license fees for your eDiscovery application. Here is what I mean. Many organizations pay an annual license fee for their primary eDiscovery application. But not all of these companies take advantage of this 24-hour license. The reason many companies do not use their 24-hour licenses is that they operate traditional office hours because staffing on three teams is prohibitive.
However, if an automation tool can work on your behalf, without human intervention, you get more bang for your buck. Your eDiscovery license can work for you while you sleep. This can produce many benefits, including more easily meeting deadlines, less pressure on staff during working hours, and better use of resources. That’s the power of automation.