Legal process outsourcing has become one single solution for a range of problems that are posed in front of law firms due to limited resources, time constraints, lack of expertise, tedious research, and documentation work. It has significantly increased the productivity and quality of work for law firms.
It has also expanded the scope of information exchange along with continuous learning. As a result, this sector has witnessed tremendous growth in the last few years.
It is a common misconception that only big firms use LPO services and benefit from them. Small and mid-sized firms have increasingly opted for LPO services and it has helped them increase their productivity and client base as well. The impact of Covid–19 has further strengthened the presence of these services in the legal industry and has shown profitable outcomes for both parties involved.
The foundation and success rate of an LPO service are based on some parameters which are crucial for any law firm that is willing to outsource. They can be clubbed into the following points:
– A diligent and well-qualified team of attorneys, paralegals, and trainees.
– A team that is equipped to handle clients as well as legal work required in challenging and new domains.
Law firms can make more profits with LPO services. Here’s how:
This is certainly one of the main reasons for the rise of LPO services. Outsourcing legal work such as documentation, research, litigation services, accounting support and much more can help firms raise productivity levels and save the cost of hiring in-house resources full-time.
Outsourcing such services on a project basis saves the company both cost and time. Legal attorneys and paralegals can deliver the same results as an in-house employee of a legal firm based in the US at a much lower cost, thus saving the firm the overhead costs of hiring a US-based employee.
Access to the latest technologies
Digital infrastructure and remote services are the demand of the hour. LPO service providers are equipped with both. Legal firms who outsource their work can benefit from AI-based solutions and IT solutions for eDiscovery, contract lifecycle management, and extensive legal research.
Round the clock support
By outsourcing legal work to India, your company can leverage the benefit that comes with its time zone. Work can simply be assigned at the end of every day and it will be delivered to you each morning when you begin. This helps in continuous workflow and lessens the chances of any delay.
Helps you focus on core business operations
Law firms are often overwhelmed with a lot of paperwork, documentation, and research-oriented tasks. When you have the help of LPO services to do all this, it saves you time and you can channel the additional bandwidth for core business operations. Increasing client base, focusing on big cases at hand, expanding your legal network – all this can be achieved with ease.
Ongoing innovation and trends
This has been seen as an advantage of LPO because working in a collaborative structure gives companies better insight into innovations and the latest trends. While collaborating with LPO service providers, you can stay ahead of others and learn about the changing trends in business processes and tech innovations.
When there is a combination of in-house and outside resources working together, your company has the benefit of combining the skills and talent of external and internal staff. New work challenges can be handled smoothly by combining the potential and talent that is available.
Faster delivery time
Strategic distribution of work between offshore and onshore teams can help companies finish tasks within a short duration of time. This not only increases a firm’s credibility and reliability but also takes the burden off the in-house team, which can then focus on new projects.
Access to a wider talent pool
This process allows US/UK-based companies to have access to talented and qualified law professionals in India. This also helps offshore resources gain experience and opportunities to work with international clients and expand their knowledge base.
More attention to detail
LPO firms have specially trained legal attorneys who can review documents with precision. Therefore, their lawyers would be more focused on doing a better job given that they don’t typically have additional client work or the responsibility of providing counsel. Thus, the output at the end of an outsourced legal process typically pays more attention to detail, which is of utmost importance in matters of law.
The need for legal process outsourcing stemmed from the rising legal costs in countries across the Global North, particularly the United States, the United Kingdom, Canada, etc. Countries like India provide legal services and expertise at much lower costs, as a result of which India is now one of the biggest contributors to the growth of this sector.
Summary: We have witnessed a boom in LPO services in the last few years. Starting in the early 2000s, LPOs have gained popularity over time and are seen as one of the most effective solutions to legal work management. Qualified legal professionals get an opportunity to explore different aspects of the legal industry and perform challenging tasks.
The success of this sector is based upon delivering and providing timely assistance to law firms to finish tasks that are otherwise time-consuming and strenuous. Outsourcing legal work to India has not only been fruitful for firms based abroad but it has also opened doors for future possibilities of work for LPOs.
With an increased scope for collaborations, cost-effectiveness, flexibility, and access to technology, LPOs have a promising future as they continue to contribute to new breakthroughs in the legal industry.