Legal outsourcing trends like integrating new technology combined with expertise have become a common practice.
One such technique is to engage the services of a legal outsourcing company offering world-class services at affordable rates. Many Indian outsourcing companies are operational 24/7, working in the ‘downtime’ of the US.
Clients usually receive their work assignments at the beginning of the next working day. Legal outsourcing services include eDiscovery, document review, drafting, legal research and writing, and transcription services.
Legal outsourcing offers a win-win situation for both the law firm and the outsourcing service provider. Your team can work on core value tasks while your outsourcing partner takes care of the routine tasks. Outsourcing not only meets the requirements but also makes the practice of law seamless.
Legal Process Outsourcing (LPO) in India has been progressing at a rapid pace and has witnessed a high growth rate. According to a survey, more than 25,000 professional law graduates are working in several LPOs across India.
The Indian LPO industry’s growth rate is quite fast compared to other countries. Every outsourcing firm is investing largely in software, procedures, and security. It is crucial to ensure the security and confidentiality of the data in the long-run.
Undoubtedly, clients nowadays pay the utmost attention to 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 has now improved its 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 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 services in India alone is $60m of the total.
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.