How can good information management help companies to cut litigation costs?
Recent research has shown that over 50% of British firms do not have a procedure in place to control the retention of documents relating to their business activities. By the same token this renders them totally unprepared for any legal proceedings against them where documentary evidence is required.
Lawyers are constantly under fire for their spiralling charges but the blame also rests with companies which have not taken steps to organise and maintain a system to store their electronic data sources and which would comply with the requirements of e-disclosure.
For these organisations, the heavy costs are incurred through having to use third party resources to identify and gather the necessary data, usually working to tight deadlines in order to be able to present the evidence in court. By implementing an electronic document management system with an automatic document retention tool, businesses can store data in a structured and consistent format for pre-defined timescales and therefore help to comply with Data Protection and E-discovery requirements. Emails can also be securely archived using software such as IPC’s M.Message, ensuring that all incoming and outgoing correspondence is captured and indexed for easy retrieval should it ever be required.
For further information on how the IPC Group can help you to improve your information management processes, please call freephone 08081 45 46 47.