Recommind has announced Axcelerate 5.5, the latest version of its cloud-based eDiscovery platform. Axcelerate now enables analysis of instant messaging (IM) data with smart processing technology that can be applied to a wide range of platforms, including Instant Bloomberg, the dominant messaging platform for the global financial industry, Skype and Google Chat.

The new release, which also features faster performance levels, applies Recommind’s analytics, visualizations and machine learning technology to chat communications, along with email and other critical data sets.

The rise of IM in the workplace makes fast, effective analysis of chat data essential to eDiscovery and internal investigations. Legal teams have routinely struggled to find the information that matters among large volumes of chat communications across organizations.

Axcelerate’s new chat processing technology and analytics streamline the process of filtering, reviewing and producing IM data. In addition, Axcelerate’s Hypergraph technology provides deep insight by visualizing IM data alongside email for a complete picture of communication networks, patterns and activity levels.

“Most eDiscovery platforms struggle with IM data because of its irregular formatting and metadata. But this type of data is essential for financial services clients,” said Nick Patience, Research Vice President, Software, 451 Research.

“Some of the most important communication for regulators to review is contained in IM. Using advanced analytics allows us to get through this information faster and with greater accuracy.”

“Chat is the new email, and our customers need clear, rapid insight into every kind of enterprise data,” said Bob Tennant, CEO, Recommind. “With Axcelerate, they can quickly spot the conversations that matter for investigations, compliance and litigation.”

Other enhancements in the latest version include:

Documents at double the speed: Axcelerate 5.5 retrieves batched documents twice as fast with its newly upgraded, zero-footprint viewer and optimized memory utilization.

Faster across the board: Axcelerate 5.5 makes a range of key operations 40 to 50 percent faster – from processing, to indexing, to productions.

Deeper visibility: Axcelerate 5.5’s new Multi-Matter Dashboard provides visualized key metrics for firms and corporations to optimize processes across their eDiscovery portfolios.

Axcelerate 5.5 is available to new and existing customers as a SaaS, On-Demand or On-Premise solution.