The old saying goes – “don’t put all your eggs in one basket,” but what about in the case of consolidating your data?
When working with my clients, it’s important for me to debunk this ever so common myth that moving their data to one vendor is “too risky.” Often, moving a project to one vendor can come with many benefits, especially if it is a vendor who is knowledgeable, certified, and secure.
If you find yourself in a situation where your data is scattered among several places, in today’s day and age, it is important to have information governance practices in place to keep your data safe. Many of the frequent data security issues can be avoided by consolidating your data with a vendor that has trusted project managers who are certified in their technology. Some of the risks you may face with consolidating your data among multiple vendors include:
1. Increased chance of working with a team who is not as experienced or certified.
As the amount of data businesses generate continues to grow exponentially, managing and accessing it effectively has become increasingly challenging. With so many different eDiscovery vendors available, it can be tempting to spread your data across multiple platforms to avoid vendor lock-in. However, this can unfortunately increase the risk of lost data.
By choosing one, certified and experienced vendor to consolidate your data to, you can keep all your data organized in a central place with a single point of contact. An experienced vendor like Acorn will ensure that your data is safe every step of the process, and will manage communications, expectations, and training that align to your litigation needs. Smaller vendors may also have more niche expertise and focus within a particular industry or practice area, allowing them to provide a more targeted, specialized approach.
Your vendor should also guarantee your data’s integrity so that data is consolidated as a whole, with all work-product retained, and immediate access granted. It is important to make sure you don’t simply choose a larger vendor due to their size as you’ll need to consider your relationship with the vendor. At Acorn, personal communication with our clients is essential so that they are informed throughout the process every step of the way.
2. Downstream troubles associated with consolidating your data to more than one vendor.
Consolidating all your data with one eDiscovery vendor can provide numerous benefits by helping to simplify your data management. First, having all your data in one place can help you more efficiently monitor your data and quickly turn around document productions. You’ll also gain greater visibility into your data, allowing you to develop a more comprehensive understanding of potential compliance risks or areas where improvements can be made.
If your data is scattered amongst multiple vendors, there is a higher chance of downtime with your projects. It is important to work with one vendor who can work with stakeholders to determine optimal downtime scheduling, while working around your litigation needs and timeline. Choosing a smaller vendor like Acorn allows you to work with a team that is more agile and able to adapt to changing trends and advancements in technology more quickly than larger vendors, who may be burdened by legacy systems and bureaucracy. This can result in faster turnaround times, improved accuracy and efficiency of data processing, and better overall project management.
3. Higher pricing structure involved with consolidating data between multiple vendors.
Additionally, working with a single vendor can help you save on costs, as you’ll be able to negotiate a more favorable pricing structure for a larger volume of data. By providing the vendor with a larger volume of data to manage, you can increase the value you bring to the table and potentially negotiate more favorable rates. Choosing a smaller vendor that has a more personalized approach to customer service and more flexible pricing options can be particularly beneficial, especially for small to medium-sized businesses.
Moreover, dealing with multiple vendors can be time-consuming and can lead to increased communication costs. Coordinating with different vendors, managing multiple contracts, and performing multiple quality assurance checks can take up valuable resources and incur additional expenses. By consolidating your data with a single vendor, you can streamline these processes and reduce costs associated with coordinating with multiple vendors.
Finally, consolidating your data with a single vendor can help to reduce the risks associated with managing multiple vendors. With a single vendor, you can establish a closer working relationship and ensure that your data is being managed consistently and securely. This can result in cost savings associated with mitigating risks and ensuring your data’s integrity.
As a consultant to my clients, it is my responsibility to ensure they understand the risks associated with consolidating their data. Now more than ever, it is important to keep your data secure and ensure that you are working with a vendor that you trust. Spreading your data across multiple vendors may not only incur additional costs, but also increase data privacy risks and downstream troubles across teams. There is certainly an advantage of using a vendor with a high-powered technology like RelativityOne, which has less chances of a data breach as your data is kept in the cloud through Microsoft Azure. I advise all my clients to consolidate their data to a vendor who is both certified in their eDiscovery software and reliable in terms of communication and costs so they can remain confident that their data is in a safe place.
Acorn is a legal data consulting firm that specializes in AI and Advanced Analytics for litigation applications, while providing rigorous customer service to the eDiscovery industry. Acorn primarily works with large regional, midsize national and boutique litigation firms. Acorn provides a high-touch, customized litigation support services with a heavy emphasis on seamless communications. For more information, please visit www.acornls.com.