Peak Review Metrics: Case Studies and ROI

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Information about Peak Review Metrics: Case Studies and ROI

Published on August 4, 2009

Author: mdalewitz

Source: slideshare.net

Document Review Case Studies from Peak Discovery Case Study#1 Save 10% on labor costs with automatic to-the-minute billing* Our client, a consulting firm, was approached by a company to conduct a document review requiring 30 reviewers for 16 weeks. Desiring to impress this new client, the consulting firm was intent on keeping costs down and duration short. The consulting firm, being aware that labor was by far the biggest expense on any document review, began searching for a vendor that could provide the productivity gains they would need to achieve their goals. The consulting firm’s project managers were aware that approximately 30 minutes of productivity is lost per day, per employee. The aggregate comes from acceptable human behavior such as personal phone calls, personal bathroom and hygiene breaks, internet activities etc. Another area of concern for the firm’s project managers was the industry’s standard methods for timekeeping and billing. They understood that timekeeping is open to reviewer subjectivity when inputting hours into paper or electronic timecards (e.g. rounding down to 9:00am when arriving at 9:06am) and that even if the employee is exact when inputting hours, staffing firms tend to round employee minutes to the quarter hour in their favor when billing. The firm’s project managers reached out to their traditional vendors and further afield to see if a solution could be found to the problem. Upon entering a discussion with Peak Discovery, the firm was introduced to a software program called Peak Review Metrics (PRM). A free program, offered on suitable projects staffed through Peak Discovery – it provides the client with cost control features such as automatic to-the- minute billing. Peak Discovery’s to-the-minute billing tracks each unproductive minute and automatically deducts the cost. This meant a saving of 10% in labor costs as the firm only paid for time reviewers spent engaged in productive work. PRM would generate further cost savings once the review commenced, details of which can be found in Case Study #2. Peak Review Metrics is platform agnostic and provides productivity, accuracy and cost metrics for the document review process. It is easily installed and intuitive in its use so there is no downtime and no training required. Visit: www.PeakDiscovery.com/Metrics.html

Case Study#2 Boost productivity, accuracy and document decision rate by 25%* After commencing work on the project from case study #1, the consulting firm wanted to explore options that would further reduce costs and improve productivity and accuracy on the review. The recruitment of document review staff is critical in its importance but rarely addressed through a scientific approach. More often than not the recruiters rely on resumes, references and intuition to make their decisions. By utilizing the historical database in Peak Review Metrics, Peak Discovery’s project managers were able to analyze the previous two year’s data that detailed reviewer accuracy, productivity, platforms and subject matter to conclude that the average reviewer made 600 document decisions in a regular 8 hour day. Furthermore, they used the same data to identify individual reviewers whose high levels of accuracy and competence with the client’s hosted linear review tool and subject matter made them suitable to this particular project. The subsequent productivity improvement saw the average number of document decisions rise from 600 to 800. In addition, higher overall accuracy resulted in lower QC costs. The improved levels of productivity saw the project finished in 12 weeks instead of the originally forecast 16. The shorter duration alone reduced total cost by 25%. When the cost savings from Case Study #1 of 10% are added to the 25% from Case Study #2, the consulting firm was able to reduce the total project cost by 35%. About Peak Review Metrics Peak Review Metrics, a proprietary software tool, provides an unmatched level of cost, accuracy and productivity insight into the document review process. Acting as a dashboard, it contains multiple reporting functions to track individual and group metrics. Platform agnostic, it provides an historical perspective, accelerates decision making, improves productivity and gives law firms or corporate legal departments cost control and real-time metrics. With Peak Review Metrics, reviewer performance, project management, QC and project duration can all be observed and controlled resulting in large time and cost savings. Best of all, Peak Review Metrics is available at no cost on projects staffed through Peak Discovery. Peak Discovery, Inc. HQ: 25 West 31st Street, 11th Fl. New York, NY 10001 Tel: (212) 792-7600 www.PeakDiscovery.com * Case studies are for educational purpose only. Percentages are based on forecasted versus actual cost. The figures should be used as a guide only. All information © Peak Discovery, Inc.

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