Raging Hot eDiscovery Market Gains New Managed Services Tool

The Radicati Group, Inc., is predicting monster growth for the eDiscovery market, moving from a healthy $976 million last year to a super-fit $2.35 billion in 2016.

So it’s no wonder that managed services providers (MSP) want in on the action. One case in point is Modus, an eDiscovery MSP that has a new Fixed Fee service bringing “unprecedented levels of cost predictability and control to eDiscovery, while eliminating the risk of budget overruns,” the company said.

In these days of increasing compliance requirements, an array of companies and professionals use eDiscovery, including legal firms and departments, compliance officers, financial institutions and departments. With eDiscovery, users can collect data from applications such as documents, e-mail and messaging, databases, Web sites and other sources. When specific data is needed, the tools “discover” the required data.

All this takes time and money. “Our customers are getting crushed by unpredictable discovery costs. With ballooning data volumes, variable pricing models invariably result in budget overruns. Our customers asked for a solution, and we shifted our business model to align to their needs,” noted Abtin Buergari, president and CEO of Modus. "We are committed to helping our customers and the eDiscovery industry gain forecasting control over legal expenditures. Modus' Fixed Fee Managed Services puts this goal in reach."

The new Fixed Fee service performs discovery work for specific projects, collections through productions, and for a particular process or process group.

Radicati sees cloud-based eDiscovery as a particularly hot area. “In comparison to their on-premises based counterparts, cloud-based eDiscovery services enable customers to save costs on the transfer of data throughout all stages of the Electronic Discovery Reference Model (EDRM) while also eliminating much of the back-end management and maintenance duties typically associated with an on-premises solution,” Radicati noted.

Modus doesn’t just offer the service. Its in-house experts consult with customers to lay out the business requirements, and define the scope of the eDiscovery deployment.