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5 FAQs on outsourcing legal processes
Are you doubtful about the concept of legal process outsourcing? This article is an attempt to clear a few misconceptions about the process of LPO. Read on to learn more.
This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.
Corporate legal departments and law firms face increasing pressure to enhance their efficiency and cut their costs. This demand has led to a significant growth of legal process outsourcing. The latter is gaining importance because it allows legal firms to offer services at cost-effective rates. While outsourcing legal processes, it is always important to select a service provider who is flexible and who adapts their services according to your specific business requirements. However, legal firms often lack comprehensive understanding of how everything works. In this article, we have answered some of the most commonly asked questions on legal process outsourcing:
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1. What are the advantages of legal process outsourcing?
Legal process outsourcing comes with a range of benefits, which includes:
•Cost-Efficiency: In the legal process outsourcing industry, organizations outsource legal work to countries where it can be done at significantly lower costs.
•Access to Skilled Professionals: Legal process outsourcing providers have a large talent pool of attorneys. Moreover, most service providers already implement technology tools and standardizing processes to constantly simplify, learn and adapt to tomorrow’s challenges.
•Efficiency: Outsourcing legal services to thorough professionals reduces the workload of the in-house team and definitely increases their efficiency.
2. Is sharing confidential information safe?
Any genuine outsourcing company will sign a Non Disclosure Agreement before starting to work on a project. An outsourcing company’s reputation and business completely depends on their reliability and confidentiality. Apart from a detailed Non Disclosure Agreement, the project manager must also do strict supervision to ensure compliance.
3. Isn’t legal process outsourcing only meant for big companies?
Most small businesses are of the opinion that legal process outsourcing is only meant for big companies. The truth is legal process outsourcing is a boon for small and medium enterprises. The process allows you to get premium quality work at cost-effective rates. Additionally, it also frees up your time to let you focus on core business growth.
4. Can outsourcing increase revenue?
There are multiple ways in which legal process outsourcing can increase the revenue of a business. By outsourcing the tedious legal and paralegal areas, your firm can take up additional work from clients. If you hire in-house professionals, you are required to pay added overhead costs and train the employees. By outsourcing, you can easily get premium quality services at a fraction of the real cost.
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5. Is it beneficial to outsource legal services to India?
In the past few years, India has emerged as a hotspot for LPO services. Most legal departments are focusing on India as a major legal process outsourcing provider due to multiple benefits. The large pools of skilled lawyers in India have in-depth understanding of international laws. Moreover, their expertise in filing procedures, legal consulting services and the use of judicial council forms can ensure accurate litigation services. Outsourcing legal processes to India also helps cuts the current operating costs down.
If you’ve decided to outsource the legal processes of your business, ensure that you take even minor details into consideration. Choose the right partner who caters to your needs and helps in the growth of your business.