Sun. Aug 14th, 2022
    en flag
    nl flag
    et flag
    fi flag
    fr flag
    de flag
    he flag
    ja flag
    lv flag
    pl flag
    pt flag
    es flag
    uk flag

    Content Assessment: Lurking Undercurrents? Summer 2022 eDiscovery Business Confidence Survey Results

    Information - 96%
    Insight - 95%
    Relevance - 96%
    Objectivity - 95%
    Authority - 94%

    95%

    Excellent

    A short percentage-based assessment of the qualitative benefit of the post highlighting the business confidence of cybersecurity, information governance, and legal discovery professionals in the summer of 2022.

    Editor’s Note: The eDiscovery Business Confidence Survey is a non-scientific quarterly survey that shares insight into the business confidence of individuals working in the eDiscovery ecosystem. The survey consists of nine core questions on factors related to the creation, delivery, and consumption of eDiscovery products and services purposed toward cyber, data, and legal discovery tasks. Additionally, the survey contains three optional questions focused on the business operational metrics of days sales outstanding (DSO), monthly recurring revenue (MRR), and customer revenue distribution. 


    Industry Survey

    The Summer 2022 eDiscovery Business Confidence Survey Results

    Final Results

    The quarterly eDiscovery Business Confidence Survey has been administered twenty-seven times since early 2016, with 2,774 individual responses from eDiscovery industry professionals. The survey provides valuable insight into the current business confidence of cybersecurity, information governance, and legal discovery professionals in the eDiscovery ecosystem. Today ComplexDiscovery shares the observations and opinions of industry analysts and observers, reporters and communicators, and law firm and legal department experts and consultants on the eDiscovery business climate in the summer of 2022.
     
    The summer 2022 survey response period was initiated on June 10, 2022, and continued until June 27, 2022. The survey was highlighted and promoted primarily by direct email from ComplexDiscovery and the EDRM to cybersecurity, information governance, and legal discovery professionals. This quarter’s survey experienced a strong* response rate with 73 eDiscovery professionals sharing their opinions on the business of eDiscovery. While individual answers to the survey are confidential, the aggregate and unfiltered results are published to highlight the business confidence of participants regarding economic factors impacting the creation, delivery, and consumption of eDiscovery products and services during the summer of 2022. These results may be useful to legal, information technology, and business professionals seeking to better understand current and potential future business conditions as shared by survey participants.

    Business Confidence Questions (Required)

    n = 73 Respondents
     
    1. Which of the following segments best describes your business in eDiscovery?
    Part of the eDiscovery ecosystem where your organization resides  
     
    • Software or Services Provider – 38.4% ↑
    • Law Firm – 31.5% ↓
    • Consultancy – 17.8% ↑
    • Corporation – 8.2% ↑
    • Media/Research – 2.7% ↓
    • Other – 1.4% ↓
    • Governmental Entity – 0.0% ↓
    1 - Survey Respondents by Organizational Segment - Summer 2022

    2. How would you rate the current general business conditions for eDiscovery in your segment?
    Subjective feeling of business performance when compared with business expectations  
     
    • Good – 57.5% ↓
    • Normal – 38.4% ↑
    • Bad – 4.1% ↓
    2 - Current Business Climate Overview - Summer 2022

    3. How do you think the business conditions will be in your segment six months from now?
    Subjective feeling of business performance when compared with business expectations  
     
    • Better – 46.6% ↓
    • Same – 46,6% ↑
    • Worse – 6.8% ↓
    3 - Business Climate Overview + Six Months - Summer 2022

    4. How would you guess revenue in your segment of the eDiscovery ecosystem will be six months from now?
    Revenue is income generated from eDiscovery-related business activities  
     
    • Higher – 54.8% ↓
    • Same – 38.4% ↑
    • Lower – 6.8% ↑
    4 - Revenue Overview + Six Months - Summer 2022

    5. How would you guess profits in your segment of the eDiscovery ecosystem will be six months from now?
    Profit is the amount of income remaining after accounting for all expenses, debts, additional revenue streams, and operating costs  
     
    • Higher – 38.4% ↓
    • Same – 47.9% ↑
    • Lower – 13.7% ↑
    5 - Profits Overview + Six Months - Summer 2022

    6. Of the six items presented below, what is the issue that you feel will most impact the business of eDiscovery over the next six months?
    Challenges that may directly impact the business performance of your organization  
     
    • Increasing Types of Data – 28.8% ↓
    • Budgetary Constraints – 24.7% ↑
    • Lack of Personnel – 16.4% ↓
    • Increasing Volumes of Data – 15.1% ↓
    • Data Security – 9.6% =
    • Inadequate Technology – 5.5% ↓
    6 - Issues Impacting eDiscovery Business Performance - Summer 2022

    7. In which geographical region do you primarily conduct eDiscovery-related business?
    The location from which you are basing your business assessments  
     
    • North America (United States) – 86.3% ↑
    • Europe (Non-UK) – 5.5% ↑
    • Europe (UK) – 2.7% ↓
    • Asia/Asia Pacific – 2.7% ↓
    • North America (Canada) – 1.4% ↑
    • Central/South America – 1.4% ↑
    • Middle East/Africa – 0.0% ↓
    7 - Survey Respondents by Geographic Region - Summer 2022

    8. What area best describes your primary function in the conduct of your organization’s eDiscovery-related business?  
     
    • Legal/Litigation Support – 75.3% ↑
    • Business/Business Support (All Other Business Functions) – 15.1% ↓
    • IT/Product Development – 9.6% ↑
    8 - Survey Respondents by Primary Function - Summer 2022

    9. What area best describes your level of support in the conduct of your organization’s eDiscovery-related business?  
     
    • Executive Leadership – 45.2% ↓
    • Operational Management – 35.6% ↑
    • Tactical Execution – 19.2% ↑
    9 - Survey Respondents by Level of Support - Summer 2022

    Business Metric Trajectory Questions (Optional)

    10. How would you characterize the trajectory of your organization’s Days Sales Outstanding (DSO) during the last quarter?
    n=64 Respondents  
     
    • Increasing – 26.6% ↑
    • Unfluctuating – 31.3% ↓
    • Decreasing – 9.4% ↑
    • Do Not Know – 32.8% ↑
    10 - eDiscovery Business Metric Trajectory_ Days Sales Outstanding - Summer 2022

    11. How would you characterize the trajectory of your organization’s Monthly Recurring Revenue (MRR) during the last quarter?
    n=64 Respondents
     
    • Increasing – 40.6% ↓
    • Unfluctuating – 23.4%↓
    • Decreasing – 9.4% ↑
    • Do Not Know – 26.6% ↑
    11 - eDiscovery Business Metric Trajectory_ Monthly Recurring Revenue - Summer 2022

    12. Which of the following statements best describes the distribution of your organization’s revenue across your customer base during the last quarter?
    n=65 Respondents  
     
    • Increasing – 26.2% ↓
    • Unfluctuating – 35.4% ↑
    • Decreasing – 6.2% ↓
    • Do Not Know – 32.3% ↑
    12 - eDiscovery Business Metric Trajectory_ Distribution of Revenue Across Customer Base - Summer 2022

     Trend Notes
     
    • ↑ Increase from the last survey.
    • ↓ Decrease from the last survey.
    • = No change from the last survey.
    *Survey methodology focuses on the achievement of approximately 50 responses with the least number of emails sent to the ComplexDiscovery industry professional database. This approach seeks to minimize the number of requests for participation in surveys while ensuring a solid number of responses from which to generally assess market sentiment in survey areas of interest.
     
    Past Survey Results
     
    13 - Survey Respondents (Individual and Aggregate Overview) Summer 2022
     
    Source: ComplexDiscovery
     

     

    Have a Request?

    If you have information or offering requests that you would like to ask us about, please let us know and we will make our response to you a priority.

    ComplexDiscovery is an online publication that highlights cyber, data, and legal discovery insight and intelligence ranging from original research to aggregated news for use by cybersecurity, information governance, and eDiscovery professionals. The highly targeted publication seeks to increase the collective understanding of readers regarding cyber, data, and legal discovery information and issues and to provide an objective resource for considering trends, technologies, and services related to electronically stored information.

    ComplexDiscovery OÜ is a technology marketing firm providing strategic planning and tactical execution expertise in support of cyber, data, and legal discovery organizations. Focused primarily on supporting the ComplexDiscovery publication, the company is registered as a private limited company in the European Union country of Estonia, one of the most digitally advanced countries in the world. The company operates virtually worldwide to deliver marketing consulting and services.

    The Tip of the Iceberg? New ENISA Report on the Threat Landscape for Ransomware Attacks

    According to ENISA, this threat landscape report analyzed a total of...

    Consumers Paying the Price? Cost of a Data Breach Hits Record High According to New IBM Report

    According to IBM Security, the annual Cost of a Data Breach Report...

    Safeguarding ePHI? NIST Updates Guidance for Health Care Cybersecurity

    This new NIST Special Publication aims to help educate readers about...

    Countering Threat Actors? Using Social Network Analysis for Cyber Threat Intelligence (CCDCOE)

    According to the NATO Cooperative Cyber Defence Centre of Excellence (CCDCOE)...

    Revenue Headwinds? KLDiscovery Inc. Announces Second Quarter 2022 Financial Results

    According to Christopher Weiler, CEO of KLDiscovery Inc, “The second quarter...

    Beyond Revenue? DISCO Announces Second Quarter 2022 Financial Results

    According to Kiwi Camara, Co-Founder and CEO of DISCO, “We are...

    Live with Leeds? Exterro Completes Recapitalization in Excess of $1 Billion

    According to the press release, with the support of a group...

    TCDI Completes Acquisition of Aon’s eDiscovery Practice

    According to TCDI Founder and CEO Bill Johnson, “We chose Aon’s...

    On the Move? 2022 eDiscovery Market Kinetics: Five Areas of Interest

    Recently ComplexDiscovery was provided an opportunity to share with the eDiscovery...

    Trusting the Process? 2021 eDiscovery Processing Task, Spend, and Cost Data Points

    Based on the complexity of cybersecurity, information governance, and legal discovery,...

    The Year in Review? 2021 eDiscovery Review Task, Spend, and Cost Data Points

    Based on the complexity of cybersecurity, information governance, and legal discovery,...

    A 2021 Look at eDiscovery Collection: Task, Spend, and Cost Data Points

    Based on the complexity of cybersecurity, information governance, and legal discovery,...

    Five Great Reads on Cyber, Data, and Legal Discovery for July 2022

    From lurking business undercurrents to captivating deepfake developments, the July 2022...

    Five Great Reads on Cyber, Data, and Legal Discovery for June 2022

    From eDiscovery ecosystem players and pricing to data breach investigations and...

    Five Great Reads on Cyber, Data, and Legal Discovery for May 2022

    From eDiscovery pricing and buyers to cyberattacks and incident response, the...

    Five Great Reads on Cyber, Data, and Legal Discovery for April 2022

    From cyber attack statistics and frameworks to eDiscovery investments and providers,...

    Inflection or Deflection? An Aggregate Overview of Eight Semi-Annual eDiscovery Pricing Surveys

    Initiated in the winter of 2019 and conducted eight times with...

    Changing Currents? Eighteen Observations on eDiscovery Business Confidence in the Summer of 2022

    In the summer of 2022, 54.8% of survey respondents felt that...

    Challenging Variants? Issues Impacting eDiscovery Business Performance: A Summer 2022 Overview

    In the summer of 2022, 28.8% of respondents viewed increasing types...

    Downshift Time? eDiscovery Operational Metrics in the Summer of 2022

    In the summer of 2022, 65 eDiscovery Business Confidence Survey participants...

    Counterattack in Crimea? Ukraine Conflict Assessments in Maps (August 8 – 12, 2022)

    According to a recent update from the Institute for the Study...

    Droning On? Ukraine Conflict Assessments in Maps (August 3 – 7, 2022)

    According to a recent update from the Institute for the Study...

    Assuaging Distress? Ukraine Conflict Assessments in Maps (July 29 – August 2, 2022)

    According to a recent update from the Institute for the Study...

    Momentum Challenges? Ukraine Conflict Assessments in Maps (July 24 – 28, 2022)

    According to a recent update from the Institute for the Study...