According to a study by IDC, the global spend on public cloud services is forecast to surpass $1.3 trillion by 2025 with a sustaining CAGR of 16.9%.
Legal firms are not immune to this trend, and many are turning to cloud-based solutions for their eDiscovery needs.
When it comes to eDiscovery software, there are two primary choices: cloud-based or on-premise. Both have their pros and cons, but for most legal firms, the benefits of using a cloud-based eDiscovery solution far outweigh the drawbacks.
This article will discuss why you should choose a cloud based discovery solution for your legal firm.
1. Increased Efficiency
eDiscovery software that is cloud-based grants access to users from anywhere. It allows for a more efficient workflow as users can access the software and work on cases even when they are out of the office.
Cloud-based eDiscovery software also eliminates the need for IT staff to update and maintain the software constantly. Instead, updates are automatically installed, and users always have access to the latest version of the software.
2. Reduced Costs
Legal firms are always looking to cut costs. Cloud-based eDiscovery software can help in achieving this. For on-premise solutions, firms have to pay for the hardware, storage, and maintenance.
They also have to pay for staff to manage the system. However, in the case of cloud-based solutions, these costs are included in the software price. Thus, it can lead to significant savings for firms, especially when compared to the cost of an on-premise solution.
In addition, firms can save money by using a cloud-based eDiscovery solution because they don’t have to buy new hardware when they want to add users or expand their storage.
3. Improved Security
It is crucial to consider the security of your data when making the switch to cloud-based eDiscovery software.
However, you can rest assured since most providers have implemented state-of-the-art security protocols. It includes features like encryption and multi-factor authentication.
Additionally, many cloud-based discovery solutions offer a higher level of service and support than their on-premise counterparts. As a result, they are better equipped to deal with data breaches and other security threats.
4. Greater Scalability
When you have large volumes of data, you need an eDiscovery solution that can handle it with efficiency and speed.
An on-premise software can quickly be bogged down under the growing bulk of data, slowing the process and impeding progress, resulting in frustrated users. For example, law firms need to be able to handle an influx of data during a busy trial period.
Cloud-based eDiscovery software can easily accommodate this, whereas on-premise solutions struggle with scalability. Cloud-based solutions are much more scalable, so you can easily add or remove users without affecting performance.
Additionally, cloud-based solutions can be updated more frequently, so you always have the latest features and don’t have to wait for a new release.
5. Faster Time to Value
Lastly, cloud-based eDiscovery solutions offer a faster time to value. Because they are subscription-based services, you can be up and running almost immediately after signing up.
There are no indefinite waiting periods involved since you don’t need to wait for hardware to be delivered and installed or for software to be downloaded and configured.
You need a stable internet connection with adequate bandwidth, and you can start processing data right away.
When it comes to eDiscovery, the cloud has a lot to offer. There are many reasons to switch to cloud-based software, from reduced costs to improved efficiency.