Carl Frappaolo, AIIM Vice President, Market Intelligence says “Unstructured information drives numerous business processes…” The logical option here would be to deploy a business process management suite (BPMS) of tools. Step one is to identify what departments, project groups and individuals are involved in the business processes. Step two; identify the information that results from those individuals, groups and departments. Step three, once the business process is mapped to the information you simply associate it with a retention management product and policies.
Category: Litigation Readiness
Prior to 2007 the drivers for archiving were two fold 1) operational efficiencies and 2) SEC 17a4. The latter required financial services companies to maintain a record of every email sent and received from the company. These two issues drove the systems to retain and manage data, largely email initial. The early success of products from KVS, Inc, now Symantec, are clear examples of people buying for specific applications.
I would agree with that 70% of the time reviews require more data from the source, in fact, it is probably higher. The reason the source data needs to be recalled during review is based on a simple fact – “the review phase is the FIRST time a qualified reviewer has looked at the data qualitatively, i.e. custodians, concepts, context etc.” Waiting until the data is in a review system to evaluate it is causing companies thousands if not millions annually. Those dollars would be much better spent as pennies, which is the cost of ECA tools in terms of review budgets. The goal’s are simple 1) reduce data sets going into review 2) improve data review during collection.
Joshua Konkle: In companies with multiple litigations and complex IT the argument is often made for soup-to-nuts approach, preservation to production what are your thoughts on such a system? — Greg Buckles: First let me say that information management is one of the most important pieces of the eDiscovery reference model. Second, the soup-to-nuts approach may lack flexibility by design and could create inefficiency depending on the scale of a matter. For example, a system that works for a small HR case, may not work for a shareholder lawsuit.
We often ask our clients to bring IT and Legal together for a conversation. We use our experienced staff to help coordinate between the two groups on legal issues, retention policies and key technology concerns. For example, we don’t expect GCs to understand storage area networks (SAN) and host bus adapters (HBA), but we do want them to know that the equivalent to a post-it note on a contract is meta-data properties like blind-carbon copy on emails. We also encourage our clients and prospects to educate themselves using white papers, publications and blogs.
Focus, we say let’s focus on your industry and what we know can be destroyed. Each client carries different requirements and regulations. For example, the Financial Services industry is regulated by the Securities and Exchange Commission (SEC). The SEC establishes rules for all financial services companies’ business and communication process. In 2000 they required all financial services companies to retain communications between broker-dealers under the 17a-4 for a period of seven (7) years.
Archived Storage Market Forecast to Grow to $23 Billion by 2010; Interview with Plasmon CEO, Steven Murphy, Part 2 of 2
Steven: The global storage market is currently a $45 billion a year industry and it is anticipated to grow to $50 billion a year by 2010 with archived storage forecast to increase from $9 billion in 2007 to $23 billion in 2010. Of the data that is currently stored to disk, 80% of that data is fixed content data that is rarely accessed and can be preserved in archives. We offer companies a third tier of storage that looks and acts like disk, has the properties of tape, and uses policy based software to manage data retention and compliance. Companies are looking very closely at the benefits of the technology. Plasmon archive solutions with UDO meet long term retention requirements at a cost businesses need.
If Huron approaches a client about “eDiscovery process improvements” without any product offering it typically falls on deaf ears. However fixed priced eDiscovery is sure to generate a lot of buzz and listeners. If you are buying into V3locity, Huron’s next step is to deploy Autonomy/ZANTAZ into your environment as your intelligent preservation and collection system. While this is a win-win for both Huron and Autonomy, it may turn out to be a life saver for Autonomy.