As eDiscovery matters increase in complexity, so does the value of real-time information. This entry is the first in our ongoing series on the ways to leverage eDiscovery Lifecycle Tracking and Document Review Metrics to gain control over discovery.
Setting a Realistic Case Budget
Data can inform budgeting for both discovery and the matter as a whole. With instantaneous access to the estimated cost, corporations and law firms have better visibility into current spending and make adjustments as necessary, make the optimal decision about settlement, and use information offensively, such as to argue for narrowing the scope of discovery or the shifting of costs.
In addition, historical case information can support the negotiation of reasonable rates for law firms and service providers, as well as forecast the budget for future projects. By analyzing the cost of past reviews and review rate and accuracy, counsel can choose the most efficient teams and strategies for their project.
For more insight into the power of information, please click here to download the Advanced Discovery white paper, Top 10 Advantages of Discovery Tracking in Real Time.