Mountain View, CA (PRWEB) February 23, 2010
PSS Systems today announced that Gartner Group’s latest MarketScope for E-Discovery Software Product Vendors recognizes PSS Systems’ solution depth and wide acceptance within the legal community with a “positive” rating for the second year. According to the report, enterprises consistently report that costs and risks are reduced “by taking control of litigation hold, litigation-hold-tracking, file collection, file processing and legal review, instead of outsourcing these functions”. The report cites cost savings reported by Gartner clients can more than justify the purchase of moderately priced e-discovery software ($100,000 to $500,000), or even more expensive software (costing more than $500,000).
According to Gartner, “PSS has very good recognition and acceptance in the legal community.” Atlas is the market share leader in legal holds and discovery workflow software for legal and IT; its full Atlas suite combines enterprise discovery workflow with value-based information management and risk and cost analytics for stakeholders in legal, RIM, business groups and IT.
PSS Atlas Highlights from Gartner’s Marketscope for E-Discovery
- Atlas for Litigation Communications and Collections (LCC) manages preservation and collection workflows for legal personnel and serves as a secure, searchable repository of information collected. It supports a variety of reports on holds, collections management and workload.
- The Atlas Enterprise Retention Management (ERM) module allows specification and communication of retention policies from central legal and business managers to those responsible for carrying out the policy in IT and lines of business, facilitating managed and documented data destruction.
- Atlas for IT provides discovery workflow automation including a framework that defines a common protocol for communicating hold, collection and retention requests. Clients with existing repositories that have different mechanisms for legal hold can use Atlas to federate and track those all in one system.
- PSS has very good recognition and acceptance in the legal community.
- PSS was rated as Positive in last year's MarketScope.
High Discovery Costs are Difficult to Control
While the report says that in Fortune 500 companies, litigation costs amount to approximately one-third of after-tax profits and discovery is a majority of this cost, it points out that few companies effectively track discovery costs due to the protracted nature of litigation and the disparate sources of internal and external costs.
- Atlas is the only software covered in the report to provide discovery cost forecasting and reporting by matter and across the matter portfolio to address and control high costs to help make much better cost and matter resolution decisions for the company.
Criteria for Marketscope Consideration Excluded Point and Immature Software Providers
This year’s the Marketscope criteria for consideration was raised. “This year's revenue cutoff of $15 million reflects the growing maturity of the players, as well as their consolidation and growing revenue bases. Without major differentiating technology, the barrier to successful entry into the e-discovery market became higher this year, and vendors without the budget to create awareness or to develop the necessary channels to market will not be able to rise above the "noise" around e-discovery. In addition, consideration was only given to those companies that provide at least three of the EDRM elements.” As a result of these vendor viability and solution scope criteria, point-solution legal holds vendors and matter management vendors with hold notice tracking were not ranked by the report.
The Gartner report determines that enterprises that have dealt with their most urgent e-discovery issues turn their attention to the larger subject of information governance – a trend borne out by adoption of PSS Systems’ information governance solution suite which enables rigorous discovery and defensible disposal. Companies that use Atlas for information governance report first year savings of $10 million and ongoing savings in discovery and data management costs of over $100 million.
- Gartner predicts that the information governance market will overtake and subsume the e-discovery market as companies use “technology, people and process to manage legacy information, as well as to control more effectively the creation of data and content on a ‘go-forward’ basis”.
- Atlas is the only information governance solution to specifically enable Legal, IT and Lines of Business to achieve both rigorous discovery and routine, defensible data disposal.
Gartner defines information governance as the “specification of decision rights and an accountability framework to encourage desirable behavior in valuation, creation, storage, use, archiving and deletion of information. It includes the processes, roles, standards, and metrics that ensure effective and efficient use of information”. According to Gartner, the elements of a good information governance practice– all of which are specifically enabled in the Atlas suite -- include:
1. IT Inventory of information assets
2. Legal and compliance associate risks and obligations with assets
3. Business identifies or overlays information value with asset
4. Operationalize timely response to discovery requests, repeatable, high integrity processes and workflow and manage data in place commensurate with its value or applicable obligations
About PSS Systems
PSS Systems helps companies eliminate unnecessary legal risk, and discovery and data management costs. Its Atlas Suite is the recognized leader in legal information governance with customers like Abbott, BASF, BP, Citigroup, ConocoPhillips, First Data, GE, Merrill Lynch, Pfizer, Travelers and Williams. PSS is the innovator that started the legal holds market in 2004 and has the largest concentration of customers and domain experts anywhere. PSS is a trusted business partner to its customers, offering expert insight, best-in-class software, and continuous innovation to address emerging challenges. PSS founded and sponsors the Compliance, Governance and Oversight Council (CGOC) as a part of its commitment to advancing corporate retention and preservation practices. The company is based in Mountain View, California. For more information, visit http://www.pss-systems.com.