RenewData Unveils eDiscovery Acceleration Platform

NEW YORK, Feb. 1 /PRNewswire/ -- (LegalTech NY) -- RenewData®, a leading provider of services for the discovery, archiving, review and governance of Electronically Stored Information (ESI), today announced its eDiscovery Acceleration Platform designed to provide clients a solution that addresses the rising costs of eDiscovery and stringent litigation deadlines. RenewData's revolutionary end-to-end platform is the industry's first solution to expedite eDiscovery of both live and legacy electronic data without relying on significant manual oversight, which drastically reduces cycle times and gets information into the hands of reviewers much more quickly. With the release of the first platform module, RenewData has already established extraordinary efficiencies in its extraction and processing of backup media.

As both the IT and legal side of today's organizations are finally understanding the true scope of eDiscovery, a big challenge they face is the rising costs of eDiscovery. One of the major factors in this cost is the sheer volume of corporate data they have, combined with an ever-expanding set of types and formats involved in eDiscovery. Majority of companies do not know what is contained in their legacy data and due to perceived high costs, are unable to manage this data according to corporate policy. This lack of insight and control can lead to escalated eDiscovery costs, missed deadlines, costly sanctions or even unfavorable legal decisions, such as in the Judge Shira Scheindlin case of Pension Committee of the University of Montreal Pension Plan, et al. v. Banc of America Securities, et al. Judge Scheindlin recently released an extensive opinion on eDiscovery discussing in detail the importance of written litigation holds and careful collection of electronic documents in order to prevent spoliation and ensure evidence is properly preserved.

RenewData designed the first module release of its eDiscovery Acceleration Platform to address these issues. In its first release, RenewData automated many of the steps that have been historically handled manually, enabling petabytes of data to be processed daily in order to meet the often strict deadlines and requirements of the litigation process. The Company has seen significant reduction in time during the extraction and processing efforts for backup media. In a recent case, RenewData was able to gain more than 7X efficiency in overall throughput with a 66 percent reduction in the setup time and a 90 percent improvement in data extraction speed.

"The key industry drivers are time, cost, and relevance; this technology delivers on all three. Our solution blends years of processing knowledge from very talented and experienced people with fantastic technology design," said Steven Horan, CEO of RenewData. "Our goal was to design and build a scalable platform to give our clients the ability to quickly access, understand and analyze critical information. We believe our eDiscovery Acceleration Platform will set a new industry standard for predictability of cost, reliability and transparency."

Through its two year initiative, RenewData developed its eDiscovery Acceleration Platform to deliver the industry's fastest and most scalable means of narrowing large data sets contained on backup media down to the most relevant information for a given case. This is especially crucial as organizations look for solutions that provide a more rapid understanding of data on backup media to address Early Case Assessment (ECA). The efficiency provided by RenewData's eDiscovery Acceleration Platform provides access to key data more quickly for earlier analysis of the scope of the project and cost. Additionally, to address the need for optimum data defensibility, RenewData has integrated its platform with its existing world-class Chain of Custody (CoC) process, and automated its real-time reporting capabilities to offer greater visibility throughout the eDiscovery process.

RenewData will continue to enhance this end-to-end platform based on client feedback and needs. Subsequent releases will tie in live data from archives and other repositories as well as further integrate RenewData's innovative technologies for even more efficient data targeting and culling, earlier ECA and more efficient review.

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About RenewData

RenewData is a trusted provider of services for the discovery, archiving, review and governance of electronically stored information (ESI) to help law firms, corporations, and government agencies proactively manage the inherent risks associated with ESI. RenewData services feature unique and scalable technology, superior legal and technical expertise, and a high security facility to deliver defensible, accessible, and manageable data to our clients in a cost-effective and timely manner. RenewData has been ranked a top provider for five consecutive years in the Socha-Gelbmann Electronic Discovery Survey Report and included for three years in Inc. Magazine's list of fastest-growing privately held companies.  For more information, visit www.renewdata.com or call 888.811.3789.

SOURCE RenewData