SOURCE: Recommind

Recommind

August 18, 2010 08:00 ET

Predictive Coding™, Predictive Costs: Recommind Helping Global Law Firms Revolutionize the Economics of eDiscovery

Axcelerate™ Review & Analysis With Predictive Coding Slashes eDiscovery Costs While Enabling AmLaw 100 Firms to Offer Predictable Pricing for Document Review

SAN FRANCISCO, CA--(Marketwire - August 18, 2010) - Recommind, the leader in predictive information management software, today revealed that leading international law firms are using Axcelerate Review & Analysis to offer revolutionary fixed-fee arrangements for document review.

Axcelerate Review & Analysis is the industry's first and only application with Predictive Coding™, a patent-pending technology and workflow which automatically analyzes, prioritizes and codes all documents in a collection as part of litigation or regulatory or internal investigations. Predictive Coding's unique ability to build a predictive model of total cost, complexity and risk from the onset of a matter has enabled law firms to offer their most important clients new pricing structures, such as charging a fixed fee for annual document review regardless of data volume. This gives law firms of all sizes an unprecedented competitive advantage, enabling them to provide far more predictable and cost-effective services to meet client needs in a rapidly evolving market.

"The ability to offer clients pricing models that fit their discovery predictability and efficiency needs is a major component of our value proposition as a firm," said Stephanie "Tess" Blair, Litigation Partner and Leader of the eData Practice at Morgan Lewis. "Axcelerate Review & Analysis with Predictive Coding has allowed us to offer new and highly compelling service models that are tailored for individual clients. That approach wouldn't be possible without Predictive Coding." 

Introduced after four years of development and many more years of research in machine learning technology and eDiscovery processes, Axcelerate Review & Analysis is the only solution capable of assessing document responsiveness, privilege and issue relation before the review process begins. In one recent case involving 1.5 million documents, Predictive Coding reduced false positives from 23% to less than 0.3% while completely eliminating false negatives -- with only 25% of the document collection ever reviewed by attorneys. Not only does this free law firms from the constraints of linear review, but it also revolutionizes the economics of eDiscovery, making the entire review process more predictable, from both a cost and risk perspective, and ultimately more defensible.

The full Axcelerate eDiscovery suite, including Axcelerate™ ECA & Collection and Axcelerate Review & Analysis, offers the industry's only complete, integrated and fully defensible end-to-end eDiscovery solution. Because Recommind's patented CORE™ (Context Optimized Relevance Engine) technology underpins all components of the eDiscovery suite and provides the same index structure throughout the workflow, Axcelerate is able to maintain a fully defensible process across the full eDiscovery life-cycle, even when moving data from the corporation to the law firm or from a licensed to a hosted model. The proven and repeatable workflow integrated into Axcelerate gives users the ability to defend processes against challenges in the highly unlikely event one were to arise. For example, Axcelerate performs Quality Control (QC) measures in an automated or semi-automated manner, which are validated through integrated statistical analysis. 

"For the last three years, Axcelerate Review & Analysis has helped leading enterprises and law firms cope with the evolving complexities of eDiscovery, enabling the creation of a fully transparent and defensible document review process. As eDiscovery enters its next phase, the rest of the market is flocking to the only technology which can completely overhaul law firm billing procedures and revolutionize service offerings: Axcelerate Review & Analysis with Predictive Coding," said Bob Tennant, CEO, Recommind. "Alternative fee arrangements, such as building a fixed fee model for document review, would be impossible without Predictive Coding. With eDiscovery costs spiraling out of control, the ability to work with clients and create customized pricing models offers a massive competitive advantage for law firms."

About Recommind
Recommind is the leader in predictive information management software, delivering search-powered business applications that transform the way enterprises, government entities and law firms conduct eDiscovery, enterprise search, and information governance. Recommind's solutions are all built on the CORE (Context Optimized Relevancy Engine) platform, which automatically accesses, organizes and analyzes large volumes of information in context from myriad sources. With greater control over and more accurate access to information, organizations can lower risk, heighten productivity, increase the value of information assets and improve competitiveness and profitability. Recommind customers include AstraZeneca, BMW, Cisco, Clifford Chance, DuPont, Marathon Oil, Morgan Lewis, Nationwide Insurance, US Department of Energy (DOE), White & Case and Wilmer Hale. Recommind is headquartered in San Francisco and has offices in New York, Atlanta, Boston, Chicago, Washington, D.C., London and Bonn, Germany. For more information, e-mail info@recommind.com or go to www.recommind.com

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