Legal Support Services has firmly established its root in the mainstream corporate culture across the globe. Exporting legal services to profitable markets abroad is widely known as Legal Process Outsourcing (LPO). This model enables the attorneys, paralegals and other legal experts to outsource their work to different vendors in their locality and abroad. It is increasingly becoming a popular strategy among law firms and corporate legal firms, who are relentlessly trying to reduce their operating cost and focus more on their core competencies. Economic changes, Globalization, and the growth of Internet are some of the major aspects that have fueled the growth of legal process outsourcing in today’s time. Several companies, regardless of their size are outsourcing legal services.
Below are several ways how Legal Support Services from India can save time and increase profitability:
Cost Efficiency:
Outsourcing the legal services helps in plummeting cost significantly. Hiring an experienced in -house lawyer can turn out to be very expensive for small and medium size legal firms. Therefore, by outsourcing legal processes, an organization can obtain quality services from qualified lawyers from around the World.
For an instance, owing it to the lower infrastructure costs for Litigation support services in India, their legal service employees operate at 30 to 70% lesser salary than the employees in the USA and UK markets.
Minimized Turnaround Time:
By outsourcing legal work to external vendors, legal enterprises get the time to focus on the core competency. It increases internal bandwidth and decreases turnaround time for pressing legal assignments. The combination of in-house and outsourced professionals helps organizations to complete a project in a shorter time span.
Access to The Talent Pool of Resources:
Often, it becomes impossible to find legal employees with good industry knowledge and preferred qualification. By resorting to outsourcing legal work, the chances of acquiring quality candidates with the desired proficiency increase. By outsourcing legal services to external vendors, firms are able to reach out to specialized people and benefit from their niche expertise that is not there within the firm. If a litigation firm lacks in some aspect of legal knowledge, they can outsource that particular aspect of litigation support.
Legal Outsourcing also enables domestic firms to use the pool of global talent. Places like India and China has a huge, highly- skilled and passionate workforce, ensuring a pool of skilled employees.
Resilience:
Hiring a team of in-house and external professionals allows organizations and legal firms to adjust their proficiencies according to a new project and client requirements. Legal outsourcing services level the playing field for small and medium-sized firms with big firms.
Scalability:
Outsourcing empowers a law firm with the capacity of taking up a new project with the strong support from external legal service providers.
Currently, India is the largest LPO destination for overseas firms. Hence, by choosing to outsource legal services to an external vendor will help in reducing the costs. Besides cost optimization, legal process outsourcing offers access to external talent, 24/7 support and the capability to scale up or down operations as and when required.
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