From eDiscovery business confidence and operational metrics to merger and acquisition activity and cyber threats, the January 2021 edition of the Five Great Reads on eDiscovery newsletter provides a selection of recent research, reports, and articles to update and inform legal, business, and information technology professionals in the eDiscovery ecosystem.
The recently adopted EDPB guidelines on examples regarding data breach notification complement the Article 29 Working Party guidance on data breach notification by introducing more practice-orientated guidance and recommendations. The guidelines, adopted on January 14, 2021, and available for public commentary, aim to help data controllers in deciding how to handle data breaches and what factors to consider during risk assessment.
In the winter of 2021, eDiscovery Business Confidence Survey more than 50 participants chose to answer at least one of the optional business operational metric survey questions in the quarterly survey. 31.5% of survey respondents reported Days Sales Outstanding (DSO) as increasing in the winter of 2021. This is an incremental increase approaching 10% from the 21.9% reporting DSO as increasing in the fall of 2020. It is also the highest percentage of respondents reporting DSO as increasing since the introduction of business operational metric questions to the eDiscovery Business Confidence Survey in the winter of 2019.
This is the twenty-first quarterly eDiscovery Business Confidence Survey conducted by ComplexDiscovery. It is also the fourth time the survey has been conducted during the current pandemic. The COVID-19 pandemic continues to alter life as we know it. It also continues to alter the business landscape of everyone in the eDiscovery ecosystem. 2,332 individual responses have been received from legal, business, and technology professionals across the eDiscovery ecosystem since the inception of the survey. 60 respondents shared their opinions as part of the most recent survey.
According to HaystackID’s Chief Innovation Officer and President of Global Investigations, Michael Sarlo, “With the prevalence of data breaches in today’s business world, it is only a matter of time before an organization faces the challenge of a post-data breach incident response. While there are many different solutions for specific incident response tasks, our new ReviewRight Protect service allows us to help companies address these tasks with an integrated service managed by a team of proven data and legal discovery and review experts. Leveraging HaystackID’s extensive data discovery and compliance reporting experience, the new service helps companies quickly identify sensitive data, promptly assess safe and at-risk data, and rapidly respond and report to mitigate data-breach associated risk.”
Since beginning to track the number of publicly highlighted merger, acquisition, and investment (M&A+I) events in the eDiscovery ecosystem, ComplexDiscovery has noted at least 453 M&A+I events between November 2001 and December 2020. In considering M&A+I events in 2020, the following findings, drivers, data points, and tracking charts may be useful for understanding the activity patterns of these business events between January 1, 2020, and December 31, 2020.
As highlighted in the July 9, 2020, blog post from the FTC, increased interest in levels of M&A activity has warranted that the Bureau of Competition’s Premerger Notification Office (PNO) share the monthly figures for Hart-Scott-Rodino (HSR) Act filings. This increased activity can be seen in the strong HSR reported transaction numbers for December 2020. December had 192 reported transactions, the highest number of monthly reported transactions in any December between FY 2010 and FY 2021.
In this expert presentation, cybersecurity incident response, legal discovery, and privacy experts will share how organizations should be prepared to respond to a cyber-related incident, while also gaining insight into cutting-edge data discovery technologies and proven document review services to support the detection, identification, review, and notification processes required by law after sensitive data-related breaches and disclosure.
According to Relativity CEO Mike Gamson, “It’s imperative that the legal and compliance industries stay ahead of and evolve with the changing nature of work in organizations globally. Enterprise communications will continue to shift rapidly and scale from traditional channels like email toward chat and collaboration platforms. That’s why Relativity is committed to investing in technology that connects directly to native cloud data sources for surveillance and e-discovery workflows, evolving the data paradigm from documents to include conversations.”
From Nuix and DISCO to Exterro and AccessData, the following findings, data points, and tracking charts highlight information that may be useful for understanding M&A+I activity patterns in the eDiscovery ecosystem from October 1, 2020, through December 31, 2020. During 4Q20 there were at least eight M&A+I events, a pulse rate that exceeded the pre-COVID investment pulse rate of seven events during the same time frame in 2019.