Category Archives: Legal Outsourcing Services

Secrets How Legal Outsourcing Services Can Increase the Growth of Law Firms?

Legal Outsourcing Services

Like all business scenarios, the legal industry too has to depend on growth and development and incremental business to stay afloat. But there is a very distinct and unique perspective for law firms around the world. In the not too distant past, they had to extend their area of operations outside their own four walls (legal outsourcing services) to survive a disaster that had even economies of countries reeling under financial depression.

The global recession led to large-scale bankruptcies of even blue-chip companies not to speak of hundreds of thousands of individuals. Law firms were inundated with work and this led to a rise in a peculiar situation – lots of work but no manpower resources to back it up as the firms could ill afford huge expenses in hiring additional staff.

What was the path chosen by the law firms to get out of this mess? They decided to outsource legal services, an option that is still very relevant now and in fact growing at a fast clip. Once the legal industry tasted success in this process it became their sole mantra for business expansion. But outsourcing must be done right and now that it has been established that this is the shortest path for business development a look at the pointers to be followed in this regard will be in order.

If law firms have to delve into the secrets that can help them grow at a quick rate the answer will be outsourcing, outsourcing and yet more outsourcing of their legal services. There is nothing that can matter more. As a legal luminary of a law firm, you have to spin off large sections of your work to companies that have equally qualified lawyers with enough experience to optimize the work allotted to them.

When you outsource and want to reap the benefits fully, there are two things that should be kept in mind – the functions that you should outsource and the advantages you get out of it.

Functions that should be outsourced-

1. Research and legal drafting – This aspect is purely based on the tenets of the law without any need for specific interpretations. However, it is a very tedious and painstaking work and will keep your lawyers engaged fruitlessly when they can be better utilized in client servicing.

2. Management of contracts – If you have to go through all contracts that come up before you with a fine tooth comb, you’ll hardly have time for anything else. Free yourself up by outsourcing this activity to those offering professional legal services. Not only will the initial stages of the contract be taken care of but its monitoring will continue throughout the life cycle of the contract.

3. Document Review - This is a high manpower intensive activity again and includes preparing deposition summaries, coding of documents and other related work. By keeping it to yourself, you deprive valued customers of the undivided attention they deserve from you.

The common factor in all these above points is that they are all back office related time-consuming work. Outsourcing them is surely one of the primary secrets of business growth and development.

Why should you outsource for business growth –

1. Focus on core competencies – When you outsource legal services that require no interpretation of the law but simply has to follow it to the letter, you do not really lose anything. Instead, you are taking expert external help to further prepare your cases for the shortest possible time. This will give you a lot of time to offer quality service to existing clients as well as bring in fresh cases.

2. Reduction in costs – Outsourced work can be done at a much lower cost than what you would have paid your high salaried staff. This is because of the wage differentials existing between countries. This savings can be better utilized to offer competitive legal fees to your clients thereby stealing a march over law firms.

3. Increase in business opportunities – This is especially true if you have a small to mid-sized law firm. It is no more the scenario where top legal firms garner prize clients and small firms get left behind. By outsourcing a part of the functioning at cheaper rates you too can go for quality customers and increase business without having to add to your manpower resources.

4. Coming of age of outsourcing companies – Outsourcing companies today offer services that can be deemed to be parallel in quality to the originating legal firms. Over a period of time, they have honed their skills, added to their infrastructure and taken on board lawyers of international standards with a high degree of expertise in the laws of different countries. By hiring them you are adding value to your services and this will naturally rub off on your client servicing and business development.

These then are the secrets to law firms increasing their growth in business. At the cost of repetition, it can be said that the magic mantra is to outsource legal services.

Also Read: Legal Process Outsourcing Seen As a Permanent Trend in Legal Industry

Legal Support World(LSW) is one of the leading companies offering legal services. Our lawyers have a great degree of professional expertise and deliver consistent quality results every time.

For more information, visit www.legalsupportworld.com.

Legal Outsourcing Trends and Possibilities in 2015

legal outsourcing

The act of practicing law is transforming at an exponential rate and clients do not easily digest the increase in billing rates without probing. To maintain existing clients and attain new ones, companies are required to put forward exceptional cost-saving techniques. One such technique is to engage the services of a legal outsourcing company offering world-class services at affordable rates. There are many Indian outsourcing companies that are operational 24/7 and are also working in the ‘downtime’ of the United States.

Nevertheless, clients are usually delivered the work assignment at the beginning of the next working day. The most common legal outsourcing services these days are eDiscovery, document review, drafting, legal research and writing, transcription services, and many more.

Legal outsourcing offers a win-win situation for both the law firm and the outsourcing service provider. The employees of the law firms can pay attention to the core value work while the outsourcing company takes care of the routine tasks. Outsourcing not only fulfills the requirements of the legal industry, it also makes the practice of law much easier and exciting.

The Legal Process Outsourcing (LPOs) in India have been progressing at a rapid pace and have witnessed a high growth rate. As per one the latest surveys, currently, there are more than 25,000 professional law graduates who are working in several LPOs across India.

The Indian LPO industry’s growth rate is quite fast as compared to the other countries. Now, every outsourcing business firm is anticipating on investing largely in the systems, procedures, and security to safeguard the primary aspect of their business i.e. Security and Confidentiality of the Data. Undoubtedly, clients’ nowadays pay utmost attention to the business confidentiality and it is one of the key considerations when planning to outsource.

The growth in the LPO industry has been tremendous as the LPO that started with 5-10 employees a year ago have now improved their employee strength to about 500. The LPO industry is likewise going through a similar phase just as the BPOs, which multiplied considerably in the recent past. The future of the legal outsourcing industry can be best determined by the following facts:

  • As per the Forrester Incorporation, jobs in this field are going to reach the mark of 79,000 by the end of 2015.
  • According to Evalueserve, the Indian LPO service providers would incur a revenue of $960 million by 2016.
  • According to the Forrester Incorporation, the present value of legal process outsourcing is $85m, which is roughly 3 percent of the estimated market.
  • Forrester Incorporation suggests that the present value of legal process outsourcing in India alone is $60m of the total.

Read Also: Legal Outsourcing Trends and Possibilities 2016

So, what are you thinking? It’s the right time to outsource your mundane tasks to a reliable legal outsourcing company in India and reap all the benefits.

Legal Outsourcing Trends and Possibilities 2016

Legal Outsourcing

In the present business and commercial scenario, whichever way one chooses to look, there is no denying the importance of the ever-growing legal outsourcing sector. It has been the trend over the last decade or so and will continue to develop exponentially in 2016 too. There has been a shift in the dynamics of international trade and that includes the outsourcing industry.

However, it is seen that the lead has been taken by legal outsourcing services due to certain specific factors. The global financial meltdown saw even some supposedly strong economies of the world take a hit not to speak of the millions affected by this upheaval. Suddenly law firms the world over were inundated with people seeking relief from bankruptcies and litigation initiated by lending companies. Unable to cope with the rush, they found that the only way out was to resort to outsourcing. And they also found that a legal process outsourcing companies could help them absorb the pressure while they focused on core activities.

What then are the legal outsourcing trends and possibilities for 2016?

Competitive pricing – The cost of providing high-value services by legal firms at a fraction of the prevailing cost will become a reality thanks to enhanced legal outsourcing opportunities. The level of expertise provided by legal outsourcing is on the rise and more and more law firms will take advantage of this scenario to spin off such activities as research and documentation. The wage differential between offshore legal outsourcing services and what associates and paralegals of the outsourcing countries charge will be an added and attractive proposition to law firms around the world.

Enhanced business opportunities – Small legal firms and individual legal practitioners will take on cases that even in the not too distant past were beyond their capacity because of the quantum of processing that was required in such cases. Now, the proficiency, level of professionalism and cheap rates offered by legal outsourcing agencies will ensure that small firms too will opt for increased business as they can outsource a more mundane task. This will have a cascading effect and result in an increase in the legal outsourcing business.

Direct liaison with top companies – There is a flip side to the legal outsourcing scenario which is today in a nascent stage but is bound to grow exponentially in 2016. With the obvious advantages of hiring a legal outsourcing company, top companies, more specifically those in the Fortune 500 category will directly get on this bandwagon to reap the benefits. They have legal teams on their payrolls but will prefer to reduce billing costs by dealing directly with the outsourcing company. In this way, the go-between (legal firm) will be affected but the growth of outsourcing agencies will remain unhindered. By having a local law firm simply stamp its approval on the outsourced work, any restrictions on the unauthorized practice of law can be circumvented. This is especially true for the United States.

Read Also:  Legal Process Outsourcing Seen As a Permanent Trend in Legal Industry

These then are the legal outsourcing trends and possibilities likely to emerge in 2016. But whatever way one looks at it, all leads point to a strong and fast-growing legal outsourcing industry.

Legal Process Outsourcing Services – A Permanent Trend in Legal Industry

legal process outsourcing services

Outsourcing of specific services is a trend that has swamped nearly all major sectors of trade and commerce. The obvious benefits are being cashed in, so much so that outsourced services are almost running in tandem with mainstream services. However, it took a while for the legal sector to really imbibe the full benefits, though legal outsourcing has its roots in the 1950s when the patent process was all that was outsourced. The first hesitant steps of LPO (Legal Process Outsourcing) were seen in the United States, Canada, Israel, the Philippines, and India but legal process outsourcing services became a permanent trend in the legal industry just after the global crisis when law firms faced a survival battle. Cost cutting became the need of the hour and what better way than to outsource selected legal services.

Even though LPO is here to stay there is a subtle difference between industries. While in such sectors as tax preparation and insurance whole chunks of activities are outsourced, in the legal sector a lot depends on whether the outsourcing is within the country or offshore. This is because basic legal work has two very important factors – research, preparation, and writing of briefs and documentation on one hand and court appearances on the other. Hence, if the outsourced company is within the country comprehensive services can be delegated and legal luminaries of the parent law firm can focus exclusively on client interaction and new business. But if the outsourcing is to an offshore agency, the physical job of presenting the case in court has to be under the control of the law firm.

What then are the main areas of legal outsourcing services that have made outsourcing a permanent trend in the legal industry?

Dealing with Extra Work – The legal industry witnessed an exponential growth of the business, especially after the global recession and meltdown in recent times when even countries felt the heat. There was a rush for hiring an expert and professional legal help more so for real estate industry related cases. During this period, legal firms found it advantageous to parcel out routine activities such as research and documentation and focus on representing the client in court. This enabled them to take on more business than the strength of their legal team would have permitted in normal circumstances.

The advent of Specialised Outsourcing Agencies- Legal process outsourcing services really took off on the back of the rise in expert service providers with each of them specializing in a particular aspect of the legal process thereby offering cutting-edge efficient services. Legal firms realized that multi outsourcing their work to different authoritative firms helped them get top end quality work done at highly reduced costs. Hiring equally talented and proficient legal experts for separate areas of specialization would definitely be a very costly proposition. 

Read Also:  Legal Process Outsourcing – How Can It Help Busy Attorneys?

The points given here are just examples and not comprehensive in nature of why outsourcing is a permanent trend now in the legal industry. The common denominator running through them is that all legal outsourcing services are available at very affordable rates

Legal Process Outsourcing – How Can It Help Busy Attorneys?

Legal Process Outsourcing

Considered to be one of the rising advancements in the legal sector is the outsourcing of legal support services by means of legal process outsourcing companies. Regardless if making use of the affordable services of attorneys in India, employing legal research companies, or perhaps employing contract attorneys to manage short-term legal tasks, a good deal of legal support services are nowadays being carried out by someone besides the lawyer who was in fact appointed to get it done.

In certain circumstances, the American attorney is bypassed completely. The most favored method of legal outsourcing appears to incorporate assigning of legal work to attorneys in India.

Listed below are a few of the primary benefits of legal process outsourcing :

Legal Process Outsourcing: It could be an ideal way for a busy lawyer or law firm to deal with intricate or time-consuming tasks on a more economical budget. Individual practitioners, small companies, and boutique law practices are able to take on cases which would otherwise be too significant for them to manage. Midsize and large-scale legal companies can make their billing rates a lot more competitive by getting hold of subcontracted legal support services at a reduced rate. Companies which make use of legal outsourcing discover that it offers all the benefits associated with having associates and paralegals carrying out research and document review, however at a fraction of the cost as well as without needing to employ the full-time staff.

News Propagates Swiftly: There is certainly a negative aspect to this movement - attorneys are not the only ones who are aware of legal outsourcing. A lot of Fortune 500 businesses have taken notice of the affordable billing prices for attorneys offshore, and have abandoned the middleman (the US company) in preference of working directly with the legal outsourcing companies.

Constraints on the illegal practice of law are eliminated by means of having U .S. in-house team or a local legal firm examine and authorize the outsourced tasks.

The recession has encouraged businesses to check out what they are shelling out on legal services for techniques to keep costs down. It is believed that those legal businesses may also consider LPO companies with the intention to economize and handle data for their clientele.

Mundane Chores or Complicated Work?

Legal process outsourcing companies target the more everyday but nevertheless time-intensive jobs linked to the legal practice. They are usually employed to manage voluminous discovery functions, as opposed to drafting intricate legal briefs.

Whilst the majority of the work may be mundane, that definitely cannot be claimed for all legal outsourcing tasks. Latest experiences reveal that firms and companies nowadays are entrusting Indian legal outsourcing companies not just with everyday discovery tasks, but with complicated legal briefs and court pleadings too.

Read Also: Legal Process Outsourcing Seen As a Permanent Trend in Legal Industry

Do you view legal outsourcing as a favorable phenomenon for the legal sector, or will this simply result in a lot more American attorneys to be on the dole? Do you observe challenges in legal outsourcing? Express your insights in the comments area below.