Now that the U.S. courts have specifically designated Electronically Stored Information as discoverable evidence as important as traditional paper documents, businesses must rethink data archival & retention policies and procedures.
There are a number of pitfalls involved with eDiscovery. For one, the costs involved with complying with eDiscovery requests can be very expensive, and may require the hiring of a service firm that specialized with EDD (electronic data discovery) requests. If the judge finds the materials produced for an eDiscovery request to be unsatisfactory, the firm must bear the costs again. Being able to determine how much an eDiscovery fulfillment will cost may be important to the legal team, who may discover it is more cost-effective to settle out of court.
Explicitly classifying ESI (electronically stored information) has raised the legal risks involved with not having a consistent data retention policy. Even if data is destroyed according to pre-determined policies, or was accidentally lost, a business who cannot respond satisfactorily to an eDiscovery request may lose the case regardless of the circumstances.
North American Systems can help IT departments develop an eDiscovery strategy that mitigates risk, and reduces litigation-associated costs by implementing best-of-breed solutions and established best practices, combined with hardware & software designed to optimize eDiscovery fulfillment requirements.
Streamlining and simplifying eDiscovery allows the same process to be repeated for internal purposes such as Basel or SEC compliance, internal investigations & audits, enhanced information management, and records retention efforts.