In recent years the legal outsourcing industry has seen unexpected growth. The reason behind such growth is the benefits that one gets from legal outsourcing, be it in-house counsel, law firms or other organizations. There are several benefits of legal outsourcing to these organizations, such as—
- Cost savings
- Better focus on core business activities
- Dedicated workforce
- Access to experienced legal professionals with outstanding expertise
- Save valuable time
- Exceed client expectations
- Reduced cost of having regular employees
- Minimal infrastructural costs
- Increase in profits
- Access to quality legal services
- Gain an edge over competitors
- Not just for big firms
With the ever-rising cost of litigation to stay competitive, it became imperative to reduce costs which in turn took a toll on the partners’ profits and overall net revenue of the firms. Considering to outsource most of the tasks not only reduced the cost but also increased the overall revenue by handling more volume of work, which otherwise was difficult with the limited number of resources available to do the job. Through outsourcing, they save more than 50 to 60 % of the cost, as Full-Service Legal Process Outsourcing (LPO) companies have the capabilities and resources to offer comprehensive litigation support services, corporate legal services, medico-legal services and paralegal support services which enable lawyers or the designated resource to spend less time on the review. When most of the work is delegated and delivered on time, they get ample time to focus on the core business activities
It also facilitates dedicated workforce with the required expertise in that particular area of law. The added advantage of legal outsourcing is that the professionals who are hired by these outsourcing companies to perform even the basic secretarial work are also law school graduates with five years of legal education under the common law. These law school graduates are extensively trained to handle almost every single task, so the clients have access to quality legal services delivered to them on time.
Outsourcing can play vital a role in gaining an edge over competitors, as your in-house resources have a considerable amount of bandwidth to stay client-focused, offer better customer service experience and exceed client expectations. Outsourcing per say is not just for big law firms or corporations. Solo, Small and Medium law firms and organizations are the biggest benefactors of Outsourcing. It is often seen that a lot of firms either have a higher volume of work with fewer resources to deliver or wish to attain more business, but do not have the required resources to deliver. In either case, Outsourcing is the savior, as your outsourcing partners will have the required resources and the expertise to relieve you of the concern “who is going to handle my work”, rather you have the flexibility and assurance to go out there and the market for more business.