The average Fortune 500 companies have 125 lawsuits at any given point. The average cost of eDiscovery per lawsuit is now creeping upwards of $3 million.
According to a recent AIIM presentation, Are You Prepared for Digital Disruption 2015 Predictions:
- 47% of organizations feel universal search and compliant eDiscovery is becoming near impossible
- 53% of organizations admit their legal discovery procedures are “ad hoc, manual, disruptive, and expensive”
- 24% of organizations have had a compliance issue around litigation and discovery within the last two years
Not really good news if you happen to be in the midst of a lawsuit. Most of the problem stems from mis-managed content, content that is not archived or deleted, email and correspondence policies that ‘keep’ all emails, and of course, poor search. There are an abundant supply of vendors who can help solve these problems, including ours.
Here’s what I don’t understand. Organizations would not be happy if payroll never worked, or the monthly financials took 6 months to complete, or orders in the sales process continually get lost. Why are they so willing to throw up their hands and say, ‘nothing I can do about it’. Can the blame be put on IT, should they be responsible? Who is responsible? Maybe that’s the problem.
What do you think?
(If you have a few minutes and use SharePoint or Office 365, could you kindly take our metadata survey? You could win a free conference pass to Microsoft Ignite. We would greatly appreciate it)