LONDON, August 21, 2012 /PRNewswire/ --
The Legal Exchange Network, a division of IQPC Exchange, releases results of industry benchmarking report:
- 78% of European Corporate Counsel state compliance as their biggest challenge
- 63% find managing their data of increasing difficulty
- 39% place eDiscovery readiness as a main business objective
The Legal Exchange Network recently surveyed their global community of strategic legal practitioners to uncover the key drivers behind investments in information governance and eDiscovery solutions.
Results show that whether a company is operating in a highly regulated industry or facing an investigation, being fully prepared when litigation or investigations arise is of increasing importance to decision makers responsible for setting information governance and eDiscovery strategy.
Whilst compliance was the number one challenge for 78% of respondents, they also highlighted that embedding company-wide policies is a key obstacle.
Balancing data privacy with data protection laws is an increasing challenge when trying to remain compliant on a global scale. Jochen Mann, General Counsel, Executive VP, Global Head of Legal & Compliance at Maple Financial Group, joins Master Steven Whitaker and Justice Frank Clarke to discuss different ways of overcoming and dealing with data transmission issues on the 29th of November at the Information Governance and eDiscovery Exchange.
Companies are also struggling to implement strategies to manage their data, shedding light on the importance of implementing information governance policies.
A recent survey by AIIM backs this up: "Legal fees, fines and damages could be reduced by 25% if companies applied best practices to records management, security and e-discovery. However, only 1% of the respondents believed their organisations were following best practices".
As litigation grows, one of the key questions being asked by leading enterprises is, how does one achieve eDiscovery readiness, to ensure they are prepared when eDiscovery arises during litigation? Companies are looking at the rules and procedures they must have in place for a sound eDiscovery process, with 39% of respondents looking to develop and improve their preparation for eDiscovery.
With an increasing volume of data, implementing a holistic approach to information governance which will lead an organisation to be eDiscovery ready is not a simple task. On the 28th of November at the Information Governance & eDiscovery Strategy Exchange, General Counsel at Millicom International Cellular, Senior Counsel and Global Head of Records Management at National Grid and Associate eDiscovery Director at Barclays, will discuss how organisations can place themselves in a strategically advantageous position and how-to implement best practice for information governance.
Gabriela Magaldo, Head of Production, Legal Exchange Network, comments: "This report provides a fascinating insight into the reasons why corporate legal teams are investing in information governance and eDiscovery technology, as well as some compelling calls to action for solution providers who are looking to help these companies embed eDiscovery as a core business process and ensure a defensible and flexible strategy for when litigation or investigations arise. I look forward to discussing this with our network at the Information Governance & eDiscovery Strategy Exchange in Munich this November".
To download the full report and for more information on the Information Governance & eDiscovery Strategy Exchange, taking place 27-29 November 2012 in Munich, Germany please visit: http://www.ediscovery-exchange.com/PR
About the Legal Exchange Network
The Legal Exchange Network host a series of invitation only forums designed to help senior strategy makers overcome their most pressing information governance & eDiscovery challenges. Exchange only invites in-house Counsel and legal executives with the highest credentials, and solution providers with the most cutting edge capabilities, to deliver a unique business development opportunity and true peer-to-peer learning and networking forum. http://www.ediscovery-exchange.com/PR
SOURCE The Legal Exchange Network, a division of IQPC Exchange