The business profession is a volatile domain. When it comes to LPO firms in India, there’s increased growth in the market. Being a developing country, India is notoriously looked down upon for lagging behind in every socio-economic aspect.
However, the low standard of living has nothing to do with India’s reputation. It is a trustworthy place for contracting out a legal assignment completely or in part. This burning truth is already preached to many legal corporations in the UK, USA, Australia, Canada, and more.
LPO Firms – The reshape of law practice:
There is always an inherent risk in off-shoring serious businesses like law services. Law professionals don’t consider legal process outsourcing because of language obstacles, time zone differences, and data security.
However, in the wake of an economic meltdown, law firms, irrespective of their market share, have shifted their outsourcing preferences.
Look at the East motto:
An economic downturn is a boon for promising law graduates in Asia. A decade ago, and one would find a gaping void in the Legal Outsourcing market of today’s leaders, e.g., India.
The primary skepticism of LPO was quality deficiency. However, the legal process outsourcing 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%, ValueNotes, an Indian consultancy group, says that India alone will notch up a mind-boggling $1.6 billion in revenue in 2014.
Legal process outsourcing (LPO) firms in 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. Albeit testified in sectors like IT, call centers, and bank offices that the brand Legal Outsourcing India was not an instant hit as the market revenue in 2006 was around $1.6 million soon after its inception.
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 India is mainly for skillful law trainees nurtured by LEGAL SUPPORT WORLD and other agencies. The company offers a two-step training regime. First, the apprentices undergo an all-embracive program in all technical and soft skills by market doyens and then are pitched towards assignment-centric training, ensuring a client-specific outcome.
Resource Box:
LEGAL SUPPORT WORLD is renowned for its legal expertise in every area of law consultancy. Our mantra is to address every detail of the client’s requirement, and we always strive to achieve the client’s satisfaction.
