For Immediate Release
EDRM Highlights Winter 2020 eDiscovery Business Confidence Survey Results
MINNEAPOLIS, January 22, 2020 – Setting the global standards for e-discovery, the Electronic Discovery Reference Model (EDRM) is pleased to highlight the publication of the Winter 2020 eDiscovery Business Confidence Survey. Survey results were produced by EDRM’s media and analyst partner, ComplexDiscovery. The quarterly survey has been conducted 17 times since 2016, with more than 1,900 individual responses from legal, business and technology professionals across the e-discovery ecosystem. The winter 2020 survey had 146 respondents providing insight into business sentiment related to the creation, delivery and consumption of e-discovery products and services.
“Having been associated with the eDiscovery Business Confidence Survey since its inception as both a consumer and champion, I am incredibly excited to have EDRM highlight and share the results of the most recent survey by our partner, ComplexDiscovery,” notes Mary Mack, CEO and chief legal technologist at EDRM. “ComplexDiscovery aligns well with the EDRM’s spirit of service to the e-discovery community, and the free-of-charge and freely shared information from this partner provides accessible and valuable insight to anyone involved in the business of e-discovery. I highly encourage all to engage in future surveys as they truly give all participants a voice that is valued.”
The eDiscovery Business Confidence Survey is a nonscientific quarterly survey designed to provide insight into the business confidence level of individuals working in the e-discovery ecosystem. The survey consists of nine core multiple-choice questions focused on factors related to the general business of e-discovery, including sentiment toward revenue, profits and challenges. Additionally, the survey contains three optional questions focused on the business operational metrics of days sales outstanding (DSO), monthly recurring revenue (MRR) and revenue distribution across customer bases.
Example observations for the Winter 2020 eDiscovery Business Confidence Survey include:
+ Revenue expectations: In the winter of 2020, 51.4% of survey respondents feel that revenue in the next six months will be higher than today. This percentage represents a significant increase (12.1%) in sentiment in this area when compared to fall 2019 reporting (39.3%) and the highest rating for this metric since the fall of 2018 (57.6%).
+ Issues impacting e-discovery business performance: In the winter of 2020, 25.3% of respondents view increasing data types as potentially having the most significant impact on their business in the next six months. This percentage is the highest of all concerns represented in the survey and marks the third time in 17 surveys this issue has been rated as the top concern.
+ Monthly recurring revenue: There was a robust increase (9.9%) in the winter 2020 percentage (34.7%) of respondents reporting increasing MRR when compared to fall 2019 reporting (24.8%). This percentage is the highest from respondents reporting MRR as increasing since the introduction of operational metric questions into the business confidence survey.
The full results of the survey are available at ComplexDiscovery.com.
“As a provider, practitioner and industry commentator on the art and science of eDiscovery, I regularly and confidently use and share the research provided in ComplexDiscovery surveys in my work and writings,” shares Doug Austin, vice president of products and professional services at CloudNine and editor of the eDiscovery Daily Blog. “The results are one of the data points I regularly include in my market analysis efforts, and I always look forward to covering and writing about the results in our daily blog.”
The eDiscovery Business Confidence Survey is one of four regular research offerings published by ComplexDiscovery annually. Additional offerings, all available free of charge to individuals and organizations in the e-discovery ecosystem, include:
+ Annual eDiscovery Market Size Mashup: An aggregation of published industry data points from research firms, industry commentators and e-discovery providers, modeled and presented to highlight e-discovery software and service market size and growth projections.
+ Semi-Annual eDiscovery Pricing Survey: A nonscientific and noncomprehensive survey designed to provide general insight into e-discovery pricing as shared by individuals working in the e-discovery ecosystem.
+ Semi-Annual Predictive Coding Technologies and Protocols Survey: A nonscientific survey designed to help provide a general understanding of the use of predictive coding technologies, protocols and workflows by data discovery and legal discovery professionals within the e-discovery ecosystem.
Additionally, ComplexDiscovery regularly tracks and publishes information on e-discovery-related mergers, acquisitions and investments, as part of a noncomprehensive database currently with more than 414 entries since November 2001.
Learn more about the EDRM’s media and analyst partner today at ComplexDiscovery.com.
Empowering the leaders of e-discovery, the Electronic Discovery Reference Model (EDRM) creates practical global resources to improve e-discovery, privacy, security and information governance. Since 2005, EDRM has delivered leadership, standards, tools, guides and test datasets to strengthen best practices throughout the world. EDRM has an international presence in 113 countries and growing and an innovative support infrastructure for individuals, law firms, corporations and government organizations seeking to improve the practice and provision of data and legal discovery. Learn more about the EDRM today at EDRM.net.
ComplexDiscovery is an online publication that highlights data and legal discovery insight and intelligence, ranging from original research to aggregated news for use by business, information technology, and legal professionals. The highly targeted publication seeks to increase the collective understanding of readers regarding data and legal discovery information and issues and to provide an objective resource for considering trends, technologies, and services related to electronically stored information. Learn more about ComplexDiscovery today at ComplexDiscovery.com.
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