Welcome to an Expert series podcast featuring our former colleague and head of our eDiscovery and document review business, John Reikes. John is now the CEO of High Impact, a studio which specializes in litigation-related graphics. On this podcast, John talks with eDiscovery leader Jeff Fehrman, Vice President at Reveal Brainspace. Jeff and John discuss eDiscovery pricing, flipping the funnel on document review and partnership.
[00:53] John sets the stage for our conversation, noting a misalignment between how we pay for discovery services and how people value what they've received.
[02:37] If we measure value in risk and people time, why price it by the gigabyte?
[04:31] The number of hours an attorney spends on a matter does not align with the value they've brought to it.
[06:29] Hosting gigabytes are not relevant to either party, so why are we using them?
[08:13] Any additional ancillary value, whether artificial intelligence or applying translation, should be wrapped into one common price.
[11:37] Charge per doc, that's plain and simple.
[16:08] Can we expect success moving to a similar model on the data side of eDiscovery?
[19:10] To charge or not to charge for hosting – it comes down to value.
[23:20] AI drives automation and efficiency and can flip the pyramid – you get the documents you need and set aside the others.
[27:02] Advice to buyers and sellers? Commit to a partnership.