Since its relatively recent inception, the eDiscovery software market has become incredibly competitive in a short period of time. As more developers continue to release a broader range of options, many experts are concerned that congestion in the market will lead to more confusion among businesses seeking out the solutions.
However, competition most often leads to better products, especially in emerging markets such as the eDiscovery software industry. The trick is to keep up with the ebb and flow of developments while employing the help of an electronic litigation solutions firm whenever possible and necessary, as this will ensure a smoother overall process in the event of digital requests.
What might be set in stone;
The eDiscovery Journal recently reported that the eDiscovery software market might already be solidified in such a way that the most and least successful providers are already determined. Because of the novelty of the industry, many of the most effective solutions providers are largely unknown to most in-house counsel and corporate executives. However, some of the younger software developers are also the most beneficial in electronic litigation proceedings. The Journal explained that one example of a smaller provider that is focused on a more niche market within the eDiscovery industry is kCura, which has thus far pinpointed its Relativity software as its centerpiece. According to the news provider, the Relativity review application has become the most preferred software for these processes among service providers, law firms and corporations in a relatively short period of time.
Additionally, while experts are not sure as to where kCura will head, the Journal asserted that the latest advancement of the software – the optional TIFF production engine – might be a sign that the developer is looking to create a system that becomes a more viable platform for corporate eDiscovery needs. Finally, the eDiscovery Journal explained that companies which are strongly focused on creating new functionalities for electronic discovery proceedings are increasingly the most profitable and poised for growth.
Leveraging agile technology;
Successful operations in the eDiscovery process are largely dependent upon fluidity and well-informed decision making. As developers continue to sprout up, corporations and in-house counsel need to consider employing the assistance of an electronic litigation solutions provider to leverage the most advanced technology available on the market.
As stronger software leads to a more efficient collection and review of the necessary data, using a firm that will be flexible and obtain more advanced solutions will reduce costs associated with eDiscovery proceedings.”