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By Gerard Thompson
Law firms have had to do some serious evolving when it comes to eDisclosure. The reason for this is driven by necessity. For, although the use of in-house processes are on the rise, solicitors are voicing their frustrations at those who fail to innovate. As a result, they’re getting creative with eDisclosure software in new and exciting ways.
Buy cheap, pay twice as the saying goes, and this could not be truer when it comes to eDisclosure. Today, firms are finding that value in eDisclosure is less about the cheapest prices and more about leveraging the right tools and workflows to extract insights from data, meet deadlines and make the most out of their technology investments. Our culture is one driven by cost saving decisions, but value is a topic that rarely comes up in the conversation. eDisclosure has forever been a landscape bound by people worrying about pricing from case to case, not looking holistically at value over time. Understandably, eDisclosure is often seen as expensive and time intensive but is an opportunity to do legal work right in a big data world.
With high-stakes litigation and investigation, eDisclosure isn’t the place to cut corners. There is nothing so expensive as cheap, and, when costs are driven to the lowest possible level, you can’t complain about high turnover, underdeveloped dashboards, a lack of innovations or having vendors charge additional costs at every turn. You can get more out of the process when you invest responsibly.
In a world governed by compliance with evolving regulations, robust data protection that meets the most stringent security requirements is key. Following these requirements can be difficult for even the most security conscious technology suppliers. For those keeping their disclosure solutions in house, it’s almost impossible.
The expertise needed to not only manage a technology solution as complex as eDisclosure, but to also proactively comply with the likes of the EU’s General Data Protection Regulation (GDPR) comes at a cost few are willing to pay. Rather than testing the waters and risking the consequences themselves, law firms are seeing the light in a managed service solution from responsible providers that have the expertise to manage these risks and still provide swift and confident actions within the regulatory landscape.
The value of eDisclosure becomes clear when you use a provider such as SRM, who focus on innovation, who gives you the ability to think creatively about your next move, and who can take you and the technology available and unlock insights into data patterns and inspire new ways of problem solving. With access to a flexible hosting capacity managed by experienced UK-based consultants, SRM can assist firms deliver a first class eDisclosure service at a reduced cost. A Managed Service is viable even within lower threshold eDisclosure requirements. What’s more, detailed reporting means you know the exact cost of each case and can pass this on to your clients.
Find out how SRM managed a real life eDisclosure case eDisclosure Managed Service: a case study
To discuss eDisclosure Managed Service, contact the SRM team on 03450 21 21 51
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Or view our recorded webinar: eDisclosure: seven reasons why your firm should consider a managed service