In an environment of continuing growth in litigation worldwide, and the expansion of business regulation and enforcement actions globally, it is essential that companies are adequately prepared to respond to requests for the disclosure of electronic data. In the absence of appropriate systems, processes and controls, companies run the risk of fines, heavy litigation costs and damage to their reputation.
At the same time, managing eDiscovery is becoming ever more challenging due to the increasing volume and complexity of data and systems. Meeting obligations to respond to data requests is becoming increasingly difficult, representing greater risks and costs.
The 2015 KPMG Forensic global survey of general counsel, compliance and risk officers shows that, although more than 70 percent of respondents have processes and systems in place to manage litigation and regulatory requests, there remain several opportunities for improvement that would help companies execute eDiscovery in a more effective and cost-effective manner.
The key findings of the latest survey highlight the need for proactive engagement by legal, compliance and risk departments to shape their strategy early in order to achieve the best outcome for their business.