Being proactive about data retention and destruction is essential to cutting costly discovery expenditures, and can save companies millions. Without a firm handle on what and where information is stored, a consistently enforced records policy, and the routine and proper disposal of obsolete data, companies could potentially spend up to 9% of their annual revenue on one discovery.

To keep discovery and other data related costs under control, companies should start with developing a data map that provides a comprehensive view of all records and information, the associated media and applications, and where that information is located. Data maps continue to evolve over time with the company, and these maps are invaluable in locating information during discovery. Data mapping also offers valuable insight when making critical decisions about storage and destruction policies.

Controlling the amount of data your company retains is also a key component in controlling discovery expenditures, as document over retention accounts for a significant and unnecessary part of discovery and review costs. These costs can be easily contained with a proactive document location and volume reduction strategy, literally saving your company millions.