25% Savings in Legal Costs

This is the most compelling finding from the recent Industry Watch survey on Records Management. It's quite a broad sweep of costs - legal costs, court costs, fines and damages - and of course, best practice records management, security and e-Discovery is quite a big ask. Mind you, 13% consider they already do this. We tried to get some idea of what percentage of revenue these costs represented, but the answers were all over the place, so it's best to stick with this reduction percentage. Around 25% on average across the board and 50% or more for 22%. That's a big saving in costs for a department which is a pure overhead anyway.  Full report here from Nov 22nd.