A recent survey from Symantec Corporation reports that the majority of organizations just aren’t prepared for comprehensive e-discovery requests. The underlying problem? Although intentions are good, the implementation part of the process is lacking.
These days, most companies have data retention policies all outlined and ready to go. In fact, Symantec’s survey reports that the percentage of organizations who did not have a plan was cut in half from the preceding year. Increased efforts are being made toward that end; only seven percent of surveyed organizations still report zero plans for data retention, down from 14 percent.
However, the number of those respondents who report that those plans are implemented and operational is not encouraging: just a third of those same companies have effectively put data retention policies into daily practice in such a way that would help facilitate any e-discovery requests. When asked for their reasons, most respondents report that costs are prohibitive to adopting the new strategies.
On average, the surveyed participants received 17 ESI requests from various sources. Failure to retrieve and deliver the data occurred 31 percent of the time, an increase in 20 percent from the previous year. This number correlates with the disconnect between theory and practice when looking at retention policies, many of which have been adopted in an effort to meet either internal or external compliance regulations.
As regulations continue tightening, more organizations will become responsible for producing increasingly obscure data, shifting the parameters of data retention procedures yet again. Changing methods to meet new compliance standards will quickly become a cost that companies can no longer afford to ignore.
The price of e-discovery efforts alone may account for over 50 percent of total litigation costs during a major case. Regardless of the high price tag associated with new data retention policies, that investment will save companies tremendously over the long haul, especially if faced with discovery requests.
Solution providers like TERIS can help companies be prepared, bridging the gap between theoretical plans for data retention and actual follow-through. Choosing a company that already has a vast understanding of insider knowledge when it comes to litigation helps reduce the types of vulnerabilities that may arise when following a strictly IT protocol toward data retention instead. By taking a proactive approach toward the possibility of e-discovery, TERIS helps companies lay the groundwork for a more effective data retention strategy, resulting in more effective and less costly litigation.