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The ROI of Enterprise Search: Increase Revenue, Reduce Cost, Reduce Risk Robert Tennant CEO, Recommind Gilbane Conference, November 2007. www.recommind.com. Recommind Background. What we do

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The ROI of Enterprise Search:

Increase Revenue,

Reduce Cost,Reduce Risk

Robert Tennant

CEO, Recommind

Gilbane Conference, November 2007

www.recommind.com


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Recommind Background

What we do

  • Enterprise-class search, categorization and eDiscovery systems for organizations with large, dynamic information environments

  • Recognized leader in the legal industry; also strong in media and pharma

  • Rapidly growing leadership position amongst financial, energy, healthcare and government

    How we do it

  • Award winning, patented, concept-based search platform provides the industry’s most accurate and automated search results

  • Focus on using sophisticated search and categorization technology to address specific, critical business issues

    Who we are

  • Based in San Francisco with offices in New York, Chicago, Atlanta, London and Bonn

  • Founded 2000; privately held, profitable


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Representative Customers


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Addressing the Most Pressing Information Management Problems of Large Organizations


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Users Are Lost in Information Overload

Legal Holds

Expertise

Enterprise Search

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Users

Intranet

Email

Collaboration System

File Shares

Records Management

Document Management

Content Management

Time Tracking

CRM


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Pfizer Makes Key Investment in its Information Architecture

Fortune 39

Revenues: $50 Billion+

Employees: 100,000

Worldwide Offices: 100+

  • Deploying MindServer Legal Enterprise Search & Projects & Expertise

  • Ties into Senior Management Initiative to improve efficiencies in the office of the Corporate Counsel

  • Connecting multiple information systems holding both unstructured and structured information (e.g. Documentum, File Shares, Notes, etc)

“ Pfizer needs to improve its information architecture if it is to be able to continue to scale and improve its business. Organizing and finding the information people need in the organization is no longer an option, it is a requirement that can not be ignored.”

- Senior Management, Pfizer


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Novartis Implements RADAR For Their Information ‘Cockpit’

Fortune 168

Revenues: $37 Billion+

Employees: 100,000+

Worldwide Offices: 140+

  • Deploying MindServer Enterprise Search & Projects & Expertise

  • Realization of Knowledge Management initiative to build virtual teams to work together efficiently and effectively across offices

  • Connecting 13 different internal information systems (intranets, Documentum, Notes, file shares, etc) and 14 external for-fee and free sources (including Allen & Overy, PLC, and the FDA)

“ The most important benefit Recommind delivers is easy access to existing information that users were unaware existed.”

- Head of Information Management, Novartis


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Morrison & Foerster Connects It All With MindServer

AM Law 25

Revenues: $750 Million +

Employees: 3,000

Worldwide Offices: 15 +

  • First Firm to Deploy Projects & Expertise Across Firm

  • Indexed Document Management System, HR Databases, Matter

  • Databases, Elite Information, Precedent Library, ….

  • Latest roll out includes Interaction (CRM), FileSurf (Records), and

  • Portal (SharePoint)

“Sharing knowledge across our distributed firm is imperative for our ability to scale and succeed as a global firm”

- Oz Benamram

Director of Knowledge Management


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Where Is The Value of Information Access (In this Use Case)?

  • Enterprise Search

    • Productivity and lower frustration from being able to find things

  • Business Intelligence

    • Understanding customer needs

    • Understanding internal projects and expenses

  • Expertise Identification

    • Understanding internal expertise/resources

    • Understanding who customers are and what is being done for them

  • Litigation/Legal Hold

    • Legal compliance – required by FRCP

  • E-mail management

    • For legal compliance, for productivity, for collaboration

  • E-Discovery

    • For substantively lower legal bills


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Accessing Information

Enterprise Search

Expertise Identification

Global Client Analysis

Business Intelligence

Litigation/Legal Hold


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Search Results


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Filtering Results


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Document View


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People Results


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Person View


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Customer Results


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Contact Results


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Project View


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Value to the Organization

  • “Soft Costs”

    • Productivity Gain:

      • 25% of Junior lawyer time is spent searching (25% of which is wasted time)

         Lost productivity ~= $7.8M annually

    • Revenue Gain:

      • Finding information that otherwise wouldn’t be found

        • Priceless (at least $1M annually of business otherwise lost)

  • “Hard Costs”

    • $2.5M annually of actual recorded revenue is written off as a result of inefficient search

    • Other hard costs: actual staff reduced, etc.


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    Organizing Information

    Email Filing

    Organization

    Preservation

    Collaboration


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    Automated/Suggested Filing - Incoming


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    Automated/Suggested Filing – Outgoing


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    View By Month, Contact, Frequency


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    Value to the Organization

    • “Soft Costs”

      • Productivity Gain:

        • New project team members take significantly less time to come up to speed.

          • ~= $ 3-4M in productivity recovered

      • Revenue Gain:

        • Finding information that otherwise wouldn’t be found

          • Priceless

  • “Hard Costs”

    • Secretarial pool is now 17% smaller  $2.5M in annual savings


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    Managing Risk

    Next Generation e-Discovery

    Document Review

    Categorization & Analysis


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    Screenshot


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    Value to Organization

    • US companies face huge amounts of litigation — $1 billion-plus companies average 556 lawsuits each

    • On average 50-60% of those require retrieval of electronic data

      • Legal Hold

        • The average litigation hold/retrieval at a typical company costs that organization $35,000 (some are much more expensive (Intel))

          • The math: 278 x 35,000 = $9.7M annually

      • E-Discovery Production/Review

        • Can range up to $5-10M a production!

    • Not just eDiscovery costs: Judgments and fines:

      • $1.4 billion, $253 million, and $29.2 million…..

  • Takeaways?

    • Talk to your legal department!!


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    Questions?


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