Compliance Tops the Poll as no.1 Challenge for Information Governance and eDiscovery Professionals

Compliance Tops the Poll as no.1 Challenge for Information Governance and eDiscovery Professionals

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Compliance Tops the Poll as no.1 Challenge for Information Governance and eDiscovery Professionals PR Newswire LONDON, August 21, 2012 LONDON, August 21, 2012 /PRNewswire/ -- The Legal Exchange Network, a division of IQPC Exchange, releases results of industry benchmarking report: 78% of European Corporate Counsel state compliance as their biggest challenge 63% find managing their data of increasing difficulty 39% place eDiscovery readiness as a main business objective The Legal Exchange Network recently surveyed their global community of strategic legal practitioners to uncover the key drivers behind investments in information governance and eDiscovery solutions. Results show that whether a company is operating in a highly regulated industry or facing an investigation, being fully prepared when litigation or investigations arise is of increasing importance to decision makers responsible for setting information governance and eDiscovery strategy. Whilst compliance was the number one challenge for 78% of respondents, they also highlighted that embedding company-wide policies is a key obstacle. Balancing data privacy with data protection laws is an increasing challenge when trying to remain compliant on a global scale.

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Compliance Tops the Poll as no.1 Challenge for
Information Governance and eDiscovery
Professionals
PR Newswire
LONDON, August 21, 2012
LONDON
,
August 21, 2012
/PRNewswire/ --
The Legal Exchange Network, a division of IQPC
Exchange, releases results of industry benchmarking
report:
78% of European Corporate Counsel state compliance as their biggest challenge
63% find managing their data of increasing difficulty
39% place eDiscovery readiness as a main business objective
The Legal Exchange Network recently surveyed their global community of
strategic legal practitioners to uncover the key drivers behind investments in
information governance and eDiscovery solutions.
Results show that whether a company is operating in a highly regulated
industry or facing an investigation, being fully prepared when litigation or
investigations arise is of increasing importance to decision makers responsible
for setting information governance and eDiscovery strategy.
Whilst
compliance was the number one challenge for 78%
of
respondents, they also highlighted that embedding company-wide policies is a
key obstacle.
Balancing data privacy with data protection laws is an increasing challenge
when trying to remain compliant on a global scale.
Jochen Mann, General
Counsel, Executive VP, Global Head of Legal & Compliance at Maple
Financial Group
, joins
Master Steven Whitaker
and
Justice Frank Clarke
to discuss different ways of overcoming and dealing with data transmission
issues on the 29
th
of November at the Information Governance and eDiscovery
Exchange.
Companies are also struggling to implement strategies to manage their data,
shedding light on the importance of implementing information governance
policies.
A recent survey by AIIM backs this up: "Legal fees, fines and damages could be
reduced by 25% if companies applied best practices to records management,
security and e-discovery. However, only 1% of the respondents believed their
organisations were following best practices".
As litigation grows, one of the key questions being asked by leading enterprises
is, how does one achieve eDiscovery readiness, to ensure they are prepared
when eDiscovery arises during litigation? Companies are looking at the rules
and procedures they must have in place for a sound eDiscovery process, with
39% of respondents looking to develop and improve their preparation for
eDiscovery.
With an increasing volume of data, implementing a holistic approach to
information governance which will lead an organisation to be eDiscovery ready
is not a simple task. On the 28th of November at the
Information
Governance & eDiscovery Strategy Exchange
, General Counsel at Millicom
International Cellular, Senior Counsel and Global Head of Records Management
at National Grid and Associate eDiscovery Director at Barclays, will discuss how
organisations can place themselves in a strategically advantageous position
and how-to implement best practice for information governance.
Gabriela Magaldo, Head of Production, Legal Exchange Network
,
comments: "This report provides a fascinating insight into the reasons why
corporate legal teams are investing in information governance and eDiscovery
technology, as well as some compelling calls to action for solution providers
who are looking to help these companies embed eDiscovery as a core business
process and ensure a defensible and flexible strategy for when litigation or
investigations arise. I look forward to discussing this with our network at the
Information Governance & eDiscovery Strategy Exchange in
Munich
this
November".
To download the full report and for more information on the Information
Governance & eDiscovery Strategy Exchange, taking place
27-29 November
2012
in
Munich, Germany
please visit: http://www.ediscovery-exchange.com/PR
About the Legal Exchange Network
The Legal Exchange Network host a series of invitation only forums designed to
help senior strategy makers overcome their most pressing information
governance & eDiscovery challenges. Exchange only invites in-house Counsel
and legal executives with the highest credentials, and solution providers with
the most cutting edge capabilities, to deliver a unique business development
opportunity and true peer-to-peer learning and networking forum.
http://www.ediscovery-exchange.com/PR
Media contact:
Kira Stancliffe, Marketing Manager, Information Governance &
eDiscovery Strategy Exchange: exchangeteam@iqpc.com / Tel: +44(0)207-
3689484 or visit http://www.ediscovery-exchange.com/PR