Recommind and Clearwell Systems expanded their e-discovery and regulatory compliance records management product lines this week with support for more areas of the e-discovery Reference Model (EDRM).
Recommind, which already has Axcelerate eDiscovery and Insite Legal Hold products out on the market for preservation, collection, processing, culling, review and production of data, added support for information management, collection, and classification with the new MindServer Categorization software module.
The new search, indexing and classification module is based on the same underlying search and index engine as the rest of the Recommind product line. Recommind uses an algorithm devised at MIT that can be “taught” to derive meaning and relevance from content, and perform “concept searches” that don’t rely on keyword matches.
Recommind VP of marketing Craig Carpenter says there’s little difference in the underlying technology, but each of Recommind’s modules are used for different purposes. While Axcelerate eDiscovery is generally used by law firms, and Legal Hold by internal counsel, MindServer is mostly targeted to a corporate records management or enterprise end users for “search and index for knowledge management” rather than strictly litigation support. The product began shipping this week. Pricing is offered according to a per-seat licensing model or a per-server license. Pricing varies according to size of deployment, but Carpenter said enterprise deals are typically $50,000 to $100,000.
Clearwell Systems added new modules to its e-discovery framework for pre-processing, review and production. “Clearwell had been in early stage processing, but now they can perform full review, including redaction and auto-redaction in preparation for formal production,” said Brian Babineau, senior analyst with Milford, Mass.-based Enterprise Strategy Group ESG).
Babineau says the product launches represent “a natural progression for both companies,” as e-discovery software makers across the board look to broaden their reach across the full EDRM spectrum. Babineau said the number of small companies looking to create “one-stop-shops” for compliance and litigation support is an indicator of how strong the market is right now.
“Not every vendor can survivve being all things to all people,” he said. “At least right now, there’s enough money in the market with things like the [Bernie] Madoff investigation and new regulations [following last year's financial crisis] to keep all of these players alive and fund their R&D efforts.”