3 Quick Tips to Find the Lowest eDiscovery Pricing for your Small Law Firm
The 3 quick tips: Find (1) Cloud-based software (2) With only the essential features you’ll need (3) With transparent and up-front pricing.
eDiscovery used to be expensive and inconvenient.
eDiscovery solutions were custom-built. So, only large law firms could afford them. But it also meant that finding the right software was a complicated process. You’d contact an eDiscovery vendor and describe what you needed. After many back-and-forths, you’d get a quote. But you weren’t always clear what you were paying for. And if you wanted the best deal, you’d have to go through the whole thing again with another vendor. This was a huge problem, especially if you were working on a deadline. In the worst case, you wound up having to pay extra because you needed the software fast and lost so much time gathering quotes!
But now it’s possible to control eDiscovery pricing.
For one, we’ve more experience with the eDiscovery process. So, we understand the ‘flow’ of eDiscovery and can be much more systematic and thorough in our approach. But, equally important: eDiscovery technology has improved and become cheaper. So, more vendors compete with each other. Which gives us more choice.
The trick is to know what to look for.
So, here are 3 quick tips to reduce the price of eDiscovery.
Tip #1: Use Cloud-based technology
Cloud computing and SaaS can save you a lot of money. The ‘Cloud’ is a bunch of servers (i.e., high-end computers) connected to each other via high-speed networks. And a new generation of eDiscovery providers are using the Cloud’s computing power and storage to run their software and securely store your data. This means you get ‘on-demand’ software (‘Software As A Service’ or SaaS) for which you don’t need to download and install anything or buy any new equipment. It’s run in the Cloud, maintained by your eDiscovery vendor, and you access it through your web browser. From wherever you are. All you need is a computer, smartphone or tablet. And an internet connection. And the best part is that you can scale up and down as needed, as your cases grow.
Tip #2: Find powerful but no-frills software
Most eDiscovery solutions aren’t ideal for smaller law firms like yours. They’re packed with features that you don’t need — and which make them more expensive. For example, ‘predictive coding.’ This is where the software looks for patterns in the way you review and label files and then makes suggestions automatically. It’s exciting, cutting-edge stuff. But you never really need it. Certainly not when you’re trying to grow your firm, find new clients, and keep costs down. Find software that lets you do eDiscovery basics (e.g., searching, tagging and redacting files) quickly and easily. The rest is often just fluff.
Tip #3: Use software with transparent, predictable pricing.
eDiscovery vendors use two types of pricing.
- With ‘fixed volume’ pricing, storage space is divided into chunks (or ‘plans’)—e.g., 3 GB, 5 GB, 10 GB, etc. And their prices have been set in advance.
- With ‘per GB’ (or, ‘pay as you go’) pricing there aren’t any ‘plans.’ However big or small your case is, your bill is calculated based on a per-GB rate.
‘Per GB’ pricing seems more flexible because you don’t have to decide in advance how much storage space you’ll need. But ‘fixed volume’ pricing is simpler and more transparent. Here’s why:
- You don’t need to negotiate anything. With per-GB pricing, there’s a lot you’ll need to clarify. Things like per-seat licensing costs, processing fees and overage. That means emails and phone calls back-and-forth. All before you’ve even uploaded your first file. With fixed-volume pricing, you bypass this negotiating. There are no ‘rates’ to calculate because the plans (and their prices) have been set in advance. Just choose the size that suits you and start working.
- You know exactly how much you’ll be paying and what you’re paying for. For most small and solo law firms, the size of a case keeps changing. So, with per-GB pricing, how do you calculate what you owe? Say you start with 3 GB of data. Then you delete 1 GB after a couple of weeks. What’s your bill at the end of the month? Do you pay for the largest size your case got to—3 GB? Or its average size—2.5 GB? By fixing volumes, these distinctions aren’t relevant anymore. If you’re on a 3 GB plan, you’re paying for 3 GB of space. You can do whatever you want with that space. Add and delete as many files as you need to, as often as you need to. Your monthly bill is still predictable.
Keep eDiscovery pricing low with GoldFynch.
GoldFynch is a fresh, adaptable eDiscovery app. And it’s designed for small law firms like yours. Here’s why it’s cool:
- No set-up required. It runs in the Cloud, and you use it through your web browser. Plus, your trial case is free. So, you can start working immediately. No sales calls or emails. And no credit card.
- You can work from anywhere. All you need is an internet connection.
- It’s easy to use. Just like any other app on your phone.
- It lets you do eDiscovery essentials. Like, searching, tagging, and ‘producing’ files. And redacting privileged information.
- It’s secure: Your data is backed up on multiple Cloud-servers with bank-grade security and encryption.
- You get the best technical support: Its designed, developed and run by the same team. So, the technical support isn’t outsourced. Which means prompt and reliable service.
- Most importantly, it’s got the lowest eDiscovery price available: Just $10 a month for a basic case. That’s $25 less—every month—than the nearest comparable software. And hundreds of dollars cheaper than many others.
Want to learn more about GoldFynch?
To learn more about low eDiscovery pricing for small law firms, check out these articles.
- What eDiscovery Software Should I Buy? Ask These 4 Questions to Save Your Small Law Firm Time and Money.
- Ferrari vs. Corvette eDiscovery: Fast Cars Teach Small Law Firms a Valuable Lesson
- Is Your Clients’ Data Safe? Cloud Computing to the Rescue for Small Law Firms
- How to Land a Big Case as a Small Law Firm
- Why Your eDiscovery Software Needs To Have OCR