Part I: Understand the Business Problem
Faster, better, cheaper was the mantra at NASA as it set goals to improve quality and efficiency and better manage costs after several setbacks. It was a way to set goals and measure success from a “top down” approach of looking at it from all perspectives and seeking to better quantify risks and rewards in various programs . . . expect quality, but demand efficiency!!!
Faster, better, cheaper was the clear theme at LegalTech 2015 . . . good Information Governance makes good business sense!
The term “Information Governance” may be refreshed or a new name may evolve, but the desire to better manage unstructured data and business information will be as strong as ever.
As pressure mounts to control legal spends, better governance is the opportunity to defensibly delete ROT (redundant, outdated or trivial data) once it has outlived its useful life.
The hidden Return on Investment in eDiscovery lies in understanding the entire spend—not just the obvious third party costs—and understanding and quantifying risks in the current process.
I have been working with several clients in developing business cases and ROI models to frame their various challenges and drive strategic initiatives. The key to success is having developed a “base-line” understanding of the current process and identifying all key players. The nature of eDiscovery tends to affect IT, RM, the Business and of course, Legal.
As “beauty is in the eye of the beholder,” all parts of the organization affected by the process see this from a different perspective and should be included in the dialogue.
Key drivers in these initiatives are cost take-out and optimization of eDiscovery and regulatory compliance processes. Understanding the current state of the process, people involved, key processes and technology in order to get visibility and control of the process . . . this is typically an evolution over time and requires a continued commitment to total quality management.
Best Practices that cut across the broad theme of Faster, Better, Cheaper:
- Identify all the “stakeholders” and process owner
- Identify all “Consumers” of ESI
- Define cost of current process
- Understand the organization’s “Legal Profile”
- Form cross-functional team to drive change
Understanding all the different elements of the People, Process and Technology in your eDiscovery process is the key to controlling costs and mitigating risks.