rule imc records management & discovery offering q109 v2
DESCRIPTION
Bringing the EDRM model to lifeTRANSCRIPT
© Rule Financial Ltd 2009. All rights reserved. Slide 1Commercial in confidence
Discovery
Prepared by Rule FinancialInformation Management
Q1 2009
© Rule Financial Ltd 2009. All rights reserved. Slide 2Commercial in confidence
Contents
The challenge of discovery Market activity A model for electronic discovery Discovery best practice Software vendor & consultancy landscape What do we find? How have we
responded? Key questions for Corporates Our service offerings Proposition: Stakeholder workshop About Us Contacts
“85% of all our new work is based on clients returning toRule”
How can we help?
© Rule Financial Ltd 2009. All rights reserved. Slide 3Commercial in confidence
The Challenge of Discovery
The volume of litigation is rising• Impending wave of litigation emerging from the
global turmoil in financial markets.
Corporates face ever-increasing demands when responding to each matter• New regulations result in burdensome discovery
processes, with heavy penalties for non-compliance.
Corporates are exposed to diverse international regulations.• The global market for litigation allows claimants to
bring matters in the jurisdiction which most favours them (most frequently the US)
Ensure that they are able to meet all regulatory and legal requirements (in potentially multiple jurisdictions)
Develop, deploy and enforce a defensible, repeatable process for discovery
Increase efficiency and manage the potentially escalating cost of discovery
Against this background, corporates need to:
Sources Fulbright and Jaworski
The Problem
© Rule Financial Ltd 2009. All rights reserved. Slide 4Commercial in confidence
Market Activity
Organisations : Exploring ways to tackle discovery obligations in-house.
Corporates have traditionally turned to one of a small number of outsourced discovery consultancy providers to meet their discovery requirements at high cost
Corporates want to invest in technology to reduce their dependence on outsourced discovery consultants.
Significant cost savings are to be made An immature software vendor market, large license fees and lack of a defined
process are barriers to be overcome.
Software vendors: Market remains fragmented
Niche technology businesses are investing heavily in new segments to offer an enterprise solution.
Innovative companies are exploring alternative ways of selling their software to clients, including pay-per-use software.
Expertise is required to distinguish the credible from the aspirational solution.
Legal firms: Seeking ways to encourage claimants to pursue litigation
Schemes such as third party funding and insurance schemes are being launched to give individuals and companies the confidence and ability to take matters to court.
On the other side of actions, legal firms, who traditionally have relationships with forensic service providers, are investigating in partnerships with software vendors to offer their clients lower discovery costs through the implementation of ‘straight through processes’.
“More and more enterprises are
looking to in source at least part of
the e-discovery function, Clients
report that the payback period for
an e-discovery investment is 3-6
months”- Gartner: ‘MarketScope for e-discovery software
product vendors 2008’
© Rule Financial Ltd 2009. All rights reserved. Slide 5Commercial in confidence
Electronic Discovery Reference Model
We follow the EDRM model (below) which represents the recommended process organisations should follow in response to legal / regulatory action being brought against them.
Upon notice of litigation or investigation, the organisation must identify all relevant custodians & information.
The custodians and their information should be placed under ‘Legal Hold’, wherein the information is preserved before being collected to a central repository.
All collected information is then analysed & processed using forensic technology so that only relevant information is kept.
The resulting relevant information is then used for case preparation.
PreservationProcessing
Analysis
Review
Collection
IdentificationRecordsManagement Production Presentation
Volume RelevanceRef: EDRM Project
New Matter
© Rule Financial Ltd 2009. All rights reserved. Slide 6Commercial in confidence
Discovery Best Practice
Company file plan Effective records
management policy Active policy
management• Email archiving• Automated
destructions• Rights management
Legal review tools: Information stored in
central repository Classification / tagging
of information Files exported to
matter management systems
Collected information categorised
Data culled by multiple search criteria
Data de-duplicated Reports on analysis
activities Review of content
processed
Effective logging of matters
Quick identification of relevant custodians & information
Automation of custodian notifications
Provision of process MI Auditable process Automatic escalation /
reminders
To meet timescale targets Defined, transparent and repeatable Auditable
PreservationProcessing
Analysis
ReviewCollection
IdentificationRecordsManagement Production Presentation
Volume RelevanceRef: EDRM Project
New Matter
Compliance
To meet timescale targets Defined, transparent and repeatable Auditable
High Return on Investment
Bringing expensive processes in-house Improved control of legal costs Reduced settlement costs
© Rule Financial Ltd 2009. All rights reserved. Slide 7Commercial in confidence
Vendor & Consultancy Landscape The market is immature, over-hyped, overcrowded and uncertain. Rapid functional consolidation is expected.
Functionality is confused and overlapping.
Few software vendors offer credibly complete solutions for eDiscovery, and those with aspirations are extremely costly
The use of technology is not an excuse for ignoring inadequate business processes
PSS Atlas
Orchestria
Zylab
Guidance
Summation
Autonomy, Oracle Stellent
Kroll, KPMG, E & Y, etc...
PreservationProcessing
Analysis
ReviewCollection
IdentificationRecordsManagement Production Presentation
Volume RelevanceRef: EDRM Project
New Matter
Discovery vendors & consultancies
Concordance (Lexis Nexis)
© Rule Financial Ltd 2009. All rights reserved. Slide 8Commercial in confidence
Most organisations have little idea of what content they have, where it resides and who owns it
The processes for coping with litigation are often undocumented and inconsistent.
Globalisation of trade results in cases being brought in the jurisdiction most favourable to the litigant. This is frequently the US, which has the most demanding discovery requirements
Global privacy laws create an additional complexity in identification & collection
We see technology as only part of the discovery process: operational excellence is central to ensuring your organisation is well placed to efficiently tackle its discovery obligations.• Corporations need to focus on their operating models within their
legal departments• Effort spent in integrating process with outside counsel will pay big
dividends• Local solutions need to consider international requirements
The discovery landscape is broad and littered with multiple vendors offering either generic solutions or localised functionality
The technology solutions market is immature
An effective strategy for discovery must be based on a clear understanding of an organisation’s pain points and requirements. This must be inclusive of people, process and technology
Large, upfront costs for software licenses can be a barrier for organisations wishing to tackle discovery in-house.
This leads to organisations outsourcing their discovery problems to costly forensic consultancies on a case-by-case basis.
We believe our clients should also consider working with discovery vendors on a pay-per-use basis, enabling them to benefit from market leading technology while not incurring the high costs incurred by outsourced forensic consultancies.
What Do We Find?
What do we find? Rule View
© Rule Financial Ltd 2009. All rights reserved. Slide 9Commercial in confidence
Key Questions for Corporates
Rule Financial helps its clients to answer these questions
How do you develop and enforce record retention
policies to meet discovery requirements?
How do you calculate whether it is worth
bringing your discovery problem in-house, giving
due consideration to both risk and cost?
How do you develop and implement a repeatable,
defensible process for managing your
employees and their data in response to litigation?
How do you decide whether to trust your employees to comply
with discovery policies or to invest in “active policy
management”?
How do you decide how best to invest in records management to enable
efficient compliant discovery?
How do you develop a business case to prioritise investment in
discovery?
How do you decide the best way to pay for
discovery technology? Pay-per-use or licenses?
How do you design and implement a straight through process for
discovery which links-in seamlessly with third
parties?
How do you estimate discovery costs up-front
in order to decide how to defend, or whether to
settle a matter?
© Rule Financial Ltd 2009. All rights reserved. Slide 10Commercial in confidence
Our Service Offerings
Rule Financial Service Offerings
Strategy & business case
Pay-per-use software - hold, collect and aggregate
Operational model design
Matter management systems
Component selection & integration
Content file plan
Requirements
PreservationProcessing
Analysis
ReviewCollection
IdentificationRecordsManagement Production Presentation
Volume RelevanceRef: EDRM Project
New Matter
Records Management systems
© Rule Financial Ltd 2009. All rights reserved. Slide 11Commercial in confidence
Proposition: Stakeholder Workshop
Recognise and adopt best practice
Create an operating model that spans the corporation and key partners (most notably legal counsel)
Ensure that your process is compliant, efficient and scalable in size and scope to cover the full range of actions, from small local to large global
Our consultants can meet with key stakeholders from your organisation in an initial discovery requirements workshop to: Review your litigation / discovery
processes Establish an agreed discovery
landscape Match your current people,
processes and technology against the discovery landscape
Identify next steps: both short term fixes and strategic initiatives
We can help you to... What’s next?
© Rule Financial Ltd 2009. All rights reserved. Slide 12Commercial in confidence
About Us
For over 11 years Rule Financial’s specialists have been working alongside their counterparts at the world’s top financial institutions, helping to lower costs, improve productivity and deliver innovative solutions.
Rule Financial is a Microsoft Certified Partner and a member of the ‘Sunday Times Tech Track 100’ fastest growing technology companies for 2008 in the UK
Our Information Management Consultancy (IMC) has a wealth of experience from maximising physical storage needs through to information worker solutions delivered by our in-house Microsoft SharePoint team.
We are particularly keen to align business analysis and strategic visioning to actual solution delivery and measurable success.
Our diverse portfolio of clients includes; • Investment Banks• Hedge Funds• Professional Services• Legal Practitioners• Media• Engineering• Government & Public Sector
Rule Financial Rule - IMC
© Rule Financial Ltd 2009. All rights reserved. Slide 13Commercial in confidence
Contacts
Mike LinesPartner: Information [email protected]: +44 (0)7826946177
Find us online at:http://www.rulefinancial.com
AddressRule FinancialIMC101 MoorgateLondon EC2M 6SLTel: +44 (0)20 7826 4444
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