The business profession is a volatile domain. But when it comes to legal outsourcing companies to India, there is a perpetual sense of growth in market share as the present situation stands. India, though a developing country, is unfairly criticized for various socio-economic challenges.
However, it’s essential to note that India’s lower standard of living doesn’t diminish its credibility as a reliable hub for legal outsourcing. Many legal corporations in the UK and USA have recognized this truth. Even smaller firms in these regions are embracing the strategy of delegating legal tasks, wholly or partially, to India—a trend initially set by prominent city-based firms.
Legal Process Outsourcing Companies- Reshaping of law practice:
There is always an inherent risk in off-shoring serious business like legal services. Even taking all other things being equal, law professionals dread the legal outsourcing option for a series of challenges like language obstacles, time zone differences, client comfort, and an overall threat of data protection concerns.
However, in the wake of an economic meltdown, law firms, irrespective of their market shares, have shifted their outsourcing preferences from domestic corporations to overseas vendors.
Look at the east motto:
An economic downturn, in a way, is a boon in the guise of a bane for the promising law graduates in Asia and non-European and non-USA countries. Move back a decade or so en route history, and one would find a gaping void in the legal outsourcing market of today’s leaders, e.g., India.
Overcoming the primary skepticism regarding quality deficiency, the LPO share by the Asian vendors now commands $440 million out of the estimated $400 billion USD legal market. Although it is a meager 0.1%, Value Notes, an Indian consultancy group, puts it that India alone will notch up a mind-boggling $1.6 billion in revenue in 2014.
Legal Outsourcing India- The brand in the making:
When it comes to business, there is no place for bias. The US or European firms’ general counsels are no-brainers that they will just flow away with a Mexican wave of ‘Legal outsourcing India’ trend.
While India gained recognition for sectors like IT, call centers, and bank offices, the concept of “Legal Outsourcing India” didn’t immediately flourish. In 2006, shortly after its start, the market revenue was only about $1.6 million.
The country has a favorable time zone position as the time differential between India and the US stands at 12 hours, due to which efficient attorneys here can work in the dead of night in the US, and firms there would reap the benefit by submitting the task in the morning developing better client relationships.
The goodwill of one-way Indian companies:
The leverage in revenue gained by the market position of legal outsourcing in India is mainly for skillful law trainees nurtured by Legal Support World and other agencies. The company offers a two-step training regime.
Initially, apprentices go through a comprehensive program covering both technical and soft skills, guided by market experts. Afterward, they receive training tailored to specific assignments, ensuring outcomes aligned with the client’s needs.
Legal Support World is a legal outsourcing company famous for its legal expertise in every area of law consultancy. Our mantra is to address every detail of the client’s requirements, and we always strive to achieve client satisfaction.