Report: Pharmaceutical and Financial Services Have Most Mature Use of E-Discovery Tech
The first report from Exterro on e-discovery maturity found that companies in the financial services and pharmaceutical industries are the most advanced when it comes to the use of e-discovery technology.
March 19, 2019 at 02:59 PM
3 minute read
The pharmaceutical and finance industries are the most mature when it comes to the use of e-discovery, according to a report from Exterro released on Monday.
Exterro partnered with EDRM at Duke Law to produce the report, which has responses from 218 different companies with at least 200 employees. All of the answers were anonymized so Exterro only knew the industry of the company and number of employees the respondents had in the company.
EDRM did not respond to request for comment on the report.
Jamal Stockton, a member of the board of directors at the Corporate Legal Operations Consortium, said one of the reasons pharmaceutical and financial companies have more mature uses of e-discovery technology is because of the amount of outside counsel spend those companies have.
“When you have a lot of outside counsel spend, in terms of transformation and innovation internally, you're going to go after that e-discovery spend because it's costing me millions of dollars a year and it's the easiest thing for us to get our arms around in terms of controlling the spend and reducing it,” Stockton said.
Stockton also explained at their core financial services and pharmaceutical companies are partly technology companies and more likely to experiment with legal technology.
“Being technology companies, they're putting on the innovation hat and asking how they can use technology to transform business,” Stockton said. “That's part of the DNA of financial service and pharmaceutical companies.”
Bill Piwonka, chief marketing officer at Exterro, also said regulation and a high number of lawsuits play a role in how e-discovery technology is used in those sectors. He added this is the first report Exterro has put out on e-discovery maturity.
“What we are finding is that more and more organizations are treating legal operations and e-discovery as business processes,” Piwonka said. “Over the last five years we've seen a trend toward the legal department saying, 'We can treat a lot of what we do as business processes.'”
He said companies are about as mature with their use of e-discovery technology as he expected they would be and are working to become more efficient with the technology.
“Every matter is different and the scope is different, but you're doing the same thing; identifying data and identifying custodians. The steps you take to do that can be thought of as a business process,” Piwonka said. “If you take the business process approach you can identify where you're spending the most time and money.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllHow Marsh & McLennan's Small But Mighty Legal Innovation Team Builds Solutions That Bring Joy
Aggressive FTC May Force Merging Companies to Bolster Legal Defenses
4 minute readBest Legal Departments: How Blackstone's Legal and Compliance Team Got the All-Clear to Grow Business
CEOs Want Data-Based Risk Management; GCs Lack the Tech to Do So.
Trending Stories
- 1Gibson Dunn Sued By Crypto Client After Lateral Hire Causes Conflict of Interest
- 2Trump's Solicitor General Expected to 'Flip' Prelogar's Positions at Supreme Court
- 3Pharmacy Lawyers See Promise in NY Regulator's Curbs on PBM Industry
- 4Outgoing USPTO Director Kathi Vidal: ‘We All Want the Country to Be in a Better Place’
- 5Supreme Court Will Review Constitutionality Of FCC's Universal Service Fund
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250