If your Law Firm or Legal Department has tried outsourcing legal services in the past, then you will know that establishing a working partnership with an LPO service provider is a process. Regular communication and good understanding are critical to a successful working partnership. Here are four critical success factors that can ensure that you enjoy a successful LPO outsourcing partnership with your service provider:
1. Identify your legal requirements: Discuss with your team and understand exactly what you need to outsource. Based on your requirements, you can finalize on a service provider who can match your expectations. For example, if your law firm wishes to reduce your legal spend, but does not know what exactly to outsource, you will first need to discuss about the various legal functions that are costing your firm the extra dollars. Once, you understand your pain points, you can come up with a perfect legal solution that exactly fits your needs.
2. Avoid scope creep: Every time you hire a legal service provider on a project, you will need to scope the project thoroughly. This will help your legal firm to avoid scope creep. A scope creep is when a client asks for a per-document rate without defining exactly what they mean by a “document”. Is it a master service agreement or a single piece of paper? By scoping thoroughly right from the first meeting and by working closely with the service provider, your legal firm can ensure that there are no surprises. Continue reading
In the recent past, the legal services industry has seen a huge shift in the delivery model for legal services. With the emergence of LPO or legal process outsourcing, attorneys, paralegals and other legal professionals are sending their legal work overseas. The year of 2013 witnessed more and more legal firms outsourcing in order to increase flexibility, reduce cost and expand their in-house capabilities. The following is a list of the top four advantages that your legal firm can leverage by offshoring legal work to India:
1. Effectively minimize cost
One of the biggest advantages of outsourcing legal services is the huge cost savings. By outsourcing legal services, firms can reduce their cost structures through labor arbitrage (the difference in wages between outside vendors and in-house legal personnel) and reap the benefits of low costs. For example, hiring an in-house attorney might cost your legal firm $150 an hour while an external vendor might cost you only $75/hour.
2. Get access to external talent
Outsourcing legal services paves the way for firms to get access to high level legal talent and nice expertise that otherwise does not exist in the firm. For example, if your firm lacks the expertise in litigation support, you can easily outsource litigation support like document reviewing and coding. Accessing external legal talent is also very useful for small firms to fill in their gaps and tap into global legal expertise. Outsourcing locations like India and China boast of a large pool of skilled legal professionals. Continue reading