New CommVault Research Shows Businesses are Impacted by Failure to Produce Data for Legal Disputes
UK, Germany and the Netherlands Survey Demonstrates Clear Need for
Improved Proactive Management of Electronic Document and File
Discovery Processes In Order to Mitigate Organisational Risk
READING, England--(BUSINESS WIRE)--Sept. 8, 2008--CommVault (NASDAQ:CVLT):
-- A new study, commissioned by CommVault and conducted by market
research firm Dynamic Markets Ltd., reveals the top issues that legal
professionals and other senior managers find most worrisome regarding
the discovery of electronically stored information (ESI) and conveys
a marked sense of concern among those tasked with mitigating
organisational risk.
-- The 2008 survey: Corporate Hide and Seek examines the perceptions
of 300 in-house legal professionals and senior managers in the UK,
Germany and the Netherlands related to the common legal and financial
risks associated with not being able to retrieve documentation, as
well as its impact on their organisations. Among the report's key
findings:
-- One in two organisations (47 percent) questioned have suffered
serious consequences as a result of IT systems failing to deliver
on demand critical data needed to support legal disputes. These
consequences include the payment of penalties, loss of the legal
dispute, or the delay or failure to produce the required
information.
-- 39 percent of the companies interviewed believe they are still
at risk of receiving financial penalties for not being able to
produce documents by legally imposed deadlines.
-- Of those who believe they are still at risk, 58 percent have
experienced delays in producing information and nearly half (47
percent) have failed to produce such critical information.
-- Nineteen percent of businesses have lost a legal dispute and 19
percent have also received financial penalties.
-- Despite 80 percent of organisations claiming to have made an
investment in IT to address discovery challenges, 60 percent of
respondents think their IT department is not always able to
deliver information quickly enough for them to do their legal job
efficiently. If future legislative changes shorten legal
deadlines, this problem is predicted by respondents to worsen;
making it even harder for legal departments to respond to
discovery requests in a timely manner.
Quote
-- "eDiscovery and compliance demands continue to be of critical
concern to many European organisations. After highly
publicised scandals, such as Enron, we expected the research
to show that businesses had adopted far more rigorous
approaches to identifying and retrieving electronically stored
information across backup and archived data aimed at improving
litigation readiness and reducing organizational risk. What is
surprising is most organisations interviewed had suffered
serious consequences because they were unable to retrieve and
recover specific data, yet the significant majority felt they
had adequate technology in place to produce critical
information on demand. This is obviously not the case," said
Steven Rose, CommVault's executive vice president of EMEA.
Additional Information
-- "Corporate Hide & Seek" was commissioned by CommVault and
details quantitative research with individuals responsible for
dealing with legal issues for large companies (250 or more
employees) in the UK, Germany and the Netherlands.
-- A total of 300 interviews were conducted with in-house legal
professionals (94%) or with a senior manager who gets involved
in legal issues for the company (6%). All respondents
confirmed prior to interview that they personally get involved
in legal disputes their organisation might have, such as
payment disputes, breaches of contract or NDA's, employment
issues etc. For the non-legal professionals, job titles
included CEO, FD, Head of Personnel, HR Manager, Personal
Development Officer, Director of Administration, IT Director
and Officer of Personal and General Affairs.
Supporting Resources
-- Learn more about CommVault(R) Simpana(R) 7.0
http://www.commvault.com/products/
-- Learn more about CommVault and the discovery of electronically
stored information (ESI)
http://www.commvault.com/ediscovery/
-- Learn more about CommVault's customer success stories
www.commvault.com/stories
-- Read the CommVault Whitepaper, "Tipping Point: How to Know
When its Time for a New Data Management Solution"
http://www.commvault.com/news_story.asp?id=370
-- Learn more about CommVault's news
http://www.commvault.com/news.asp
About CommVault
A singular vision -- a belief in a better way to address current and future data management needs -- guides CommVault in the development of Singular Information Management(R) solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unprecedented control over data growth, costs and risk. CommVault's Simpana(R) software suite of products was designed to work together seamlessly from the ground up, sharing a single code and common function set, to deliver superlative Data Protection, Archive, Replication, Search and Resource Management capabilities. More companies every day join those who have discovered the unparalleled efficiency, performance, reliability, and control only CommVault can offer. Information about CommVault is available at www.commvault.com. CommVault's corporate headquarters is located in Oceanport, New Jersey in the United States. (cvlt-pd)
Safe Harbor Statement
Customers' results may differ materially from those stated herein; CommVault does not guarantee that all customers can achieve benefits similar to those stated above. This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions and others. Statements regarding CommVault's beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. CommVault does not undertake to update its forward-looking statements.
(C)1999-2008 CommVault Systems, Inc. All rights reserved. CommVault, CommVault and logo, the "CV" logo, CommVault Systems, Solving Forward, SIM, Singular Information Management, Simpana, CommVault Galaxy, Unified Data Management, QiNetix, Quick Recovery, QR, CommNet, GridStor, Vault Tracker, InnerVault, Quick Snap, QSnap, Recovery Director, CommServe, CommCell and ROMS, are trademarks or registered trademarks of CommVault Systems, Inc. All other third party brands, products, service names, trademarks, or registered service marks are the property of and used to identify the products or services of their respective owners. All specifications are subject to change without notice.
CONTACT: maillot jaune
Media Contact:
Clare Shephard, + 44 (0) 7736 793332
clare.shephard@maillot-jaune.co.uk
or
CommVault
Fiona Moon, + 44 (0) 1189 516525
moon@commvault.com
SOURCE: CommVault