Recommind: Grabs Legal Hold
October 20, 2008
Recommind released its Insite Legal Hold solution today. This product bridges the gap between enterprise search and analytics.
Recommind’s Craig Carpenter states that Insite maps well with the current customer base of financial and professional service firms that are involved in heavily regulated, high knowledge users that are subject to mass litigation.
The release of this product during these financially strained times is viewed as a growth opportunity backed by a recently infusion of $7.5 million in private-equity funding.
So what makes Insite Legal Hold worth an investment in your company? First, it is an integrated solution – early risk assessment (ERA), preservation, hold/collection and processing. Second, you can reduce your litigation related costs and risks to some degree. Third, you can collect only what is needed and leave the rest to current company retention policy. Finally, you can proactively address retention and spoliation risks; that is, having an email changed.
Perhaps the most intriguing part of this product is the automated updates to current holds, though Mr. Carpenter said that in response to customer feedback, Recommind also included less sexy but still important features including filtering, deduping, near-duping, and e-mail-thread processing.
A few other benefits of Insite Legal Hold include:
- Collective selection based upon keyword, Boolean, and concept matching. This collective selection provides is more defensible than previous legal hold releases because the applied intelligence normalizes for related concepts and produces documents that yield more relevant data that is above and beyond reasonable as required by the Federal Rules of Civil Procedure.
- Explore in Place Technology allows the indexing an return of light results into html for a sampling review which can them be used to apply concept searches and more to the fuller data sets.
- Multi-platform flexibility: allows enterprises with a legacy review platform to enhance data analytics yet still use its current system for production
- Built-in processing: filter, dedupe, near-dupe, and thread documents, thereby saving 70-80% of processing and review costs.
- Manages Multiple Holds.
- Reduces IT costs by providing a forensically sound copy of perceived
relevant data and holds it in a separate data store.
When asked about pricing Mr. Carpenter provided an overview of Recommind’s three-tiered licensing module.
- Annual license fee bases upon the number of custodians
- System sold outright to customers with existing infrastructures
- A La Carte for those customers who don’t have a huge litigation load but need to manage 1 or 2 cases per year.
Insite Legal Hold has a huge potential to reduce the costs and risks involved in e-discovery endeavors. The pain points of high costs at the collection and review stage make the automation of updates and concept and near-concept bases selection an attractive solution.
Recommind’s investment of private equity funds to get the word out about their solution in a time when more potential customers are struggling with the fall-out from a global financial crisis bodes well for the profit stream of this company. What is apparent with this solution is that the developers are starting to pay attention to the less-sexy parts of e-discovery work and spending time and money to provide solutions that help reduce costs and the collection and production stages of the e-discovery cycle.
Constance Ard, Answer Maven for Beyond Search, October 20, 2008
Comments
-
- Subscribe to Beyond Search
Feature archive
News archive
-
