The business profession is a volatile domain. But when it comes to legal outsourcing companies in India, there is a perpetual sense of growth in market share in the current landscape. India, though a developing country, is often subject to criticism 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 value. 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 disguised as a challenge for the promising law graduates in Asia and non-European and non-USA countries. Moving back a decade or so in history, 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 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, estimates India alone may reach a mind-boggling $1.6 billion in revenue in 2014.
Legal Outsourcing India — A Brand in the Making
When it comes to business, there is no place for bias. The US or European firms’ general counsels are pragmatic decision-makers, and they will naturally flow with the growing wave of the “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. This allows efficient attorneys here to work in the dead of night in the US, and firms there can 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 due to 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. After this, they receive training tailored to specific assignments, ensuring outcomes aligned with the client’s needs.
Resource Box:
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.
