Ari Kaplan of Ari Kaplan Advisors and Hal Marcus, Director of Product Marketing at Recommind, discussed how organizations budget for e-discovery during a Thought Leadership Spotlight Presented by Recommind at the Chief Legal Officer Leadership Forum in Chicago on Sept. 30. In their presentation, “How Legal Operations Management, Analytics and the Cloud Are Reinventing the Corporate Law Department,” the duo shared their thoughts on how e-discovery costs and savings impact budget planning.
According to Marcus, advanced analytics can help organizations conduct internal investigations. These analytics can empower an organization with actionable data it can use to bolster its efficiency, Marcus said. In addition, Marcus said tracking available data can have far-flung effects on an organization, both now and in the future: “A much lower number of folks are tracking the efficiency of what they’re doing with all this data. That’s a very easy way to get a win within the law department, to just track how efficient am I?”
Incorporating cloud and data security measures is becoming increasingly important for organizations of all sizes, Kaplan said. As such, technological competency is essential, Marcus said, to ensure that an organization can protect its sensitive information against myriad cyber threats: “I know there are some law firms that eagerly want to be audited and to be able to show their technological competency, but I think it’s very telling that the corporations that have these concerns … still found this a difficult path to go down. It’s hard to know. It’s hard to be able to take the time and put those plans in place to understand what the outside counsel truly are doing.”