When you apply legal holds, you typically preserve much too much stuff. That translates to much high costs later on while processing the material. It sounds valuable, and sensible.
Recommind has just launched Insite Legal Hold. Working with results, you iteratively refine your search criteria until you have a relevant, and substantially more compact set. There's a full audit trail of the process, so you can later show the court that you've been thorough.
Pricing: Normally by custodian, per year. Examples:
- An organization with a fair number of lawsuits and internal investigations might spend $300K to $500K annually
- A large organization with many lawsuits would probably buy the software outright, for $1M+
Main competition:
- Guidance and Autonomy
Competitive Strengths as Perceived by Recommind:
- Ability to interactively work with search results and refine them before preservation takes place
- Ability to demonstrate thoroughness of legal hold definition pt courts
- Automatic updating of legal hold information
... David Ferris