Recommind positioned in the leaders quadrant of the 2013 magic quadrant for eDiscovery software
Recommind a leader in unstructured data management analysis and governance technology, today announced that it has been positioned in the ‘Leaders’ Quadrant of Gartner’s 2013 report, ‘Magic Quadrant for E-Discovery Software.’ Gartner’s annual report provides an analysis of the changes in the market over the previous year, as well as insight into the current competitive landscape.
According to the Magic Quadrant for E-Discovery Software, “Gartner forecasts that revenue in the enterprise e-discovery software market will grow from $1.7 billion in 2013 to $2.9 billion in 2017 (see "Forecast: Enterprise E-Discovery Software, Worldwide, 2012-2017"). Double-digit revenue growth of approximately 15% is expected because of increasing volumes of litigation and regulatory investigation, and the ever-expanding amount of content and data that must be searched in support of these activities. Corporations continue to move from relying on service providers for the identification, preservation, collection and processing of data to managing the discovery process themselves, in-house.”
The report states: “Software vendors are responding to several new buyer requirements: full EDRM functionality, ever more sophisticated ways of understanding very large datasets and focusing on what is important, and the corporate desire to have as few vendors (whether of software or services) as possible.”Global enterprises use Recommind’s technology for everything from business analytics to categoristation, email managemen, enterprise search, governance and eDiscovery. Its revolutionary Predictive Coding technology greatly improves the accuracy and efficiency of document analysis and review, the most expensive and time-consuming phase of eDiscovery. All Recommind applications are based on its proprietary Core platform for management and analysis of any data type, especially unstructured data.
Earlier this year, Recommind announced the deployment of its Axcelerate Review & Analysis technology to the Securities & Exchange Commission’s Division of Enforcement. After full deployment, more than 1,200 staff in the division will have the ability to use Axcelerate Review and Analysis to search and analyze hundreds of terabytes of ESI, making this implementation one of the broadest and largest in the world. In 2012 global reinsurance giant Swiss Re also announced that it had deployed Recommind's Axcelerate Review and Analysis solution to enhance its strategic approach to eDiscovery and early case assessment.
“The exploding volume and variety of enterprise data is forcing organizations to lower costs, reduce risk and optimize information value," said Craig Carpenter, VP of Marketing and Business Development at Recommind. “Recommind’s end-to-end eDiscovery solution plays a crucial role in moving organizations toward proactive information governance. By processing and producing data on one integrated platform, it provides seamless eDiscovery that is faster, more accurate and more defensible than any other. It not onlycuts document review costs as much as 90 percent, it makes organizations far more responsive to regulatory demands and dramatically lowers risks related to spoliation and chain of custody.”