Introduction
Globalization and internet growth has allowed professionals and companies access to a variety of services that can meet their needs. Legal process outsourcing, or LPO, has become increasingly common for many firms and legal departments. Simply explained, legal process outsourcing means transferring legal functions that are normally handled by lawyers, paralegals, or other legal professionals to external service providers locally or overseas. As more and more companies are looking to grow their businesses, a strong demand for efficient legal services have also emerged.
Not sure if this is the right step for you? Here are the top four reasons why your company should seriously consider outsourcing legal work.
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It’s cost-effective.
Legal outsourcing can significantly reduce your operating costs. A huge chunk of expenses can be attributed to labor and technology needed for operations. However, when you hire a legal service provider, you won’t have to pay for fixed costs such as salary and benefits to a full staff, and there is no need to spend drastically on additional technology. With legal outsourcing, you only pay for the services you need and only for the duration of time you actually need them. These savings can positively impact your growth as a company because you have more room to invest in things that can make your core competencies more effective and efficient.
Furthermore, in measuring costs, it’s also worth considering the return of investment that you derive from every penny that you spend, as you expect certain outcomes. Hiring a full staff can be a hit-or-miss. Especially if you are a small company, there is not a lot of room for trial and error if you want to keep your business afloat, and if you are aiming for a quicker pace in growth. You are better off outsourcing legal work to a team that already has established systems to accommodate your needs.
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It gives you access to external talent.
When you hire in-house legal professionals, you are competing with other companies to get skilled labor. You don’t always find what you are looking for, and there are instances when someone you hired does not meet your expectations. In contrast, legal process outsourcing companies give you access to high-level talent, and lawyers who have various different niche expertise that can cater to your various needs. This is because legal service providers are set up for the specific purpose of solving the problems you approach them for. They have years of experience and research, and provide specialized training to their staff to maintain a level of consistency in the quality of their services.
This is particularly helpful to smaller companies who might not have access to many skilled professionals. Not all enterprises are similarly situated, and there can be geographical challenges when it comes to reaching the talent that your company requires for growth. Outsourcing legal work widens your options, and ensures that you have a larger pool of qualified professionals at your disposal.
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It gives you access to emerging technologies.
Many problems that companies encounter in operations already have existing solutions for which legal outsourcing companies have built technologies and systems. Problems in inefficiencies, data security, or research can all be solved if you have the right tech-based solutions. Companies that provide legal outsourcing services have access to the latest legal research tools, document automation systems, cybersecurity to protect sensitive documents, and even case outcome predictions.
An example of emerging technology are artificial intelligence innovations that are revolutionizing research for legal professionals by using natural language processing to collect and organize laws and jurisprudence that are relevant to the matter subject of the case. This way, it’s easier to track recent landmark cases or enacted federal laws that might be helpful to your case.
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There is reduced turn-around time.
Delays in the completion of legal-related tasks cost both time and money. It takes your focus away from revenue-generating projects, and prevents you from investing your funds in things that could facilitate the growth of your company.
With access to both highly skilled teams, and the latest technology, you can expect a much higher level of efficiency in accomplishing tasks. This is particularly helpful for urgent legal assignments. Outsourcing legal work means you have an extra set of hands, which significantly reduces the time needed to work on cases, allowing you to complete projects in a shorter span of time. Faster turnaround also means your workload won’t be congested.
How to Find the Right Legal Process Outsourcing Company
Now equipped with the knowledge of the many benefits of legal outsourcing services, you may find yourself asking, where can you find the right firm or the right lawyer?
Research is vital in finding the right company to outsource legal work to. You have to be clear about the gaps you are trying to fill or the problem you are trying to solve. With this in mind, you have to learn about each law firm’s background and processes. It is of utmost importance to also clarify the firm’s methods to ensure your privacy and to avoid any possible conflicts of interest.
The best way to make sure you find the right firm or lawyer is to use an app that pre-screens lawyers and makes their profiles and backgrounds easily accessible.
What LegalMatch Can Offer
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With a client-matching and marketing agency, law firms are given the advantage of convenient and regular lead generation. LegalMatch has built upon a tried-and-tested process of driving potential clients towards a well-organized online intake funnel. Member lawyers can then review case information submitted by the potential clients and decide instantly whether they are the best fit for them. This saves both lawyer and client time and effort. Using their mobile phones, even as they go about other daily activities, lawyers can rapidly initiate communications and have better chances of converting potential into actual and long-term clients.
Many success stories of lawyers who signed up with LegalMatch attest to this. They cite their appreciation for the steady stream of leads that helped them to stay afloat during this time of crisis, more than any of the other agencies and online platforms that they had subscribed to before. For them, the question of needing a marketing agency has been answered. For this year and well into the future, it might actually be the best decision they made for their business.
