Legal process outsourcing testing new frontiers in India
Later, large law firms began outsourcing other resource-intensive services to outside entities, such as legal investigation and litigation solutions where court appearances were not required. Outsourcing of legal processes can still be classified as in its infancy, albeit with relatively consistent and encouraging market growth. Countries that benefited from the wave of business process outsourcing have seen the biggest gains.
Since the last decade, when Indian companies began offering legal process outsourcing services, the main driver of growth has been cost savings. With nearly 80,000 law school graduates each year, India has become a leader in LPO offshoring with the depth of its workforce and the similarities in the legal systems of India, the United States, and the United Kingdom. Most LPO firms have US or UK trained attorneys on their sales and service teams, adding to their expertise in the domain and expertise in building customer relationships. .
Challenges and opportunities
A smarter legal organization: Merging law and technology while standardizing processes at the project execution stage can help large law firms constantly simplify, collaborate, learn, and adapt to the challenges of the future.
Do more with less: Budget cuts and the pressure to offer better value for money are forcing large law firms and corporate legal departments to cut costs without compromising the results expected by clients.
LPOs can help you achieve this with the right combination of technology, process, and legal consulting, to provide better value for your organization in the practice of law.
Ecosystem services
1. LPOs are emerging as career options among law school graduates that attract the best talent and refine that talent through ongoing training. They offer availability and demands for support capacity in legal research, practice management, litigation resolution, document rediscovery services, and corporate consulting for law firms large and small. Legal projects are an excellent opportunity to increase revenue from LPOs as they rapidly deploy.
2. LPOs can serve multinational clients from a wide range of delivery centers, allowing them to take advantage of opportunities in these areas more easily. Outsourcing multisectoral legal work enables small law firms to capture a larger share of the labor market.
3. LPOs offer investigation and litigation support with a solid understanding of technology. End-to-end eDiscovery services behind firewalls reduce the costs and risks of managing data with the typical cost of data processed and reviewed for litigation production at around $ 7000 / GB. LPOs also manage customer data and applications, and continue to own the data in subsequent legal workflows, allowing better control over process inefficiencies, transparency, and in a defensible way when issues come up. to the courts, which makes it a very attractive proposition to work with LPO.