With the accelerating increase in the amount of Electronically Stored Information (ESI), the burden and associated cost of eDiscovery for many corporations is increasing to the point where it is literally impossible to complete. Couple this inevitable train wreck with the fact that most of the legacy eDiscovery software vendors have little to no short term incentive to address this issue and you have a classic opportunity for new technology to enter the market. This opportunity isn’t new. I have been predicting for years that eDiscovery Software-as-a-Service (eDSaaS) would eventually take over the market. Well, for a variety of reasons, it has taken much longer than I thought that it ever would. Users were initially skeptical of cloud computing and concerned about the security of their data as many of the early hosting facilities were developed and managed by service providers that had little to no experience being an Application Service Provider (ASP) or Cloud Service Provider (CSP). In addition, many vendors entered this market with SaaS based versions of their legacy document review and Early Case Assessment (ECA) software with reduced capabilities and little to no real changes to pricing. I could go on about the short comings of the early offerings. However, that isn’t the point of my article.
Starting in 2012, the market began to see some new SaaS based eDiscovery software solutions such as X1 and Nextpoint that were built specifically for the cloud, were hosted with commercially viable CSPs such as Amazon AWS and offered dramatically lower pricing options. In 2014, backed by venture funding and fresh ideas, there are going to be several new entrants in this market with very robust solutions and even lower cost options. I believe that the eDiscovery paradigm shift may have finally arrived.
Over the next 2 weeks, I will be finalizing my review of these new technologies and publishing the results. If anyone has any input or comments that they would like me to consider including in these article, please send them to me as soon as possible.
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