As Xerox expands its business services through the purchase of Smart Data – is this the start of e-discovery consolidation?

To the man in the street, you may never have heard of legal or litigation holds. In the legal world, it is a binding agreement that if you are entering litigation, that you must collect or retain the information that is relevant to that case. In this ever increasing world of digital data, this has become a significant issue as the data that is needed to be captured or retained has grown exponentially; there are 60 billion emails sent daily, over 90% of all documents that are created are electronic, and astonishingly, about 90% of the world’s data has been generated over the last 2 years.  Worse, not only is the information contained in these documents important – the metadata is also used, information such as the date an email was opened, a file accessed or created, or the person who created it and so much more. Legal or litigation holds and data discovery has therefore become an increasingly interesting and expensive topic, especially in legal circles, and has seen big growth in the marketplace. Gartner, in their Magic quadrant for E-Discovery software predicts that the marketplace will consolidate and grow from $1.7bn revenues in 2013 to $2.9bn in 2017. The real news is that e-discovery software works – it makes the job easier, more consistent, and more importantly, the automation of the work means that it is more easily defended should there be any challenges during litigation. With Gartner suggesting that Xerox are in the Challenger Quadrant, and the clues that lay in their blog article at the end of April entitled Love, But don’t leave, Your Litigation Holds it seems that Xerox are again aiming for the top with the purchase of Smart Data. We, here at ISL, think that this is great news and with professional services already benefitting from innovation, work simplification and great customer service from Xerox (alongside ISL as their partner), this purchase just reiterates how much more Xerox can do for them.