Specific practices implemented among best-in-class organizations for the legal custody of information result in much lower expenses, including
- 94 percent lower spending for legal settlements and fees than firms with the worst practices
- 92 percent lower spending among these firms for IT to find, protect and preserve information on legal hold
- 80 percent lower spending on legal settlements and fees than a majority of firms with normative practices
- 75 percent lower spending among these firms for IT to find, protect and preserve information on legal hold
Download Improving Results for the Legal Custody of Information to find out which practices are reducing costs and improving results the most.
Better practices in IT and Legal are the primary reason for lower expenses and improved results
Legal holds on information start when firms reasonably anticipate legal requests for information. But not all firms implement the practices needed to minimize expense for this activity. Benchmark research conducted with 235 firms, primarily in the United States, reveals the specific practices implemented across the firm—and within the legal and IT functions—that are the primary reasons why some organizations spend much less than others on legal settlements, legal services and in IT to find, produce, protect and preserve information on hold.
Practice makes perfect
While the saying “practice makes perfect” is true, it helps to know which practices actually improve results. The research shows that firms with the lowest spending on legal settlements, legal fees and expenses in IT related to legal requests for information are all implementing the same practices, especially when compared with the practices implemented by all other firms. Download Improving Results for the Legal Custody of Information to find out which practices are reducing costs and improving results the most.