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Law firms worldwide have realized the necessity of outsourcing and how beneficial it is to the development of companies. Because of this, we’ve seen a legal process outsourcing (LPO) market boom.
In 2022, the global legal process outsourcing market was worth $13.67 billion. Experts project it to grow at a compound annual growth rate (CAGR) of 31.4% per year from 2023 to 2030. This baffling growth goes to show how effective business processing outsourcing (BPO) is, and how it could be the key to your firm’s success.
Courtesy of STAFFVIRTUAL, this article delves into the benefits of Legal BPO Services for law firms, tackling every important detail you should know before starting your outsourcing journey.
In a nutshell, legal BPO refers to the practice of law firms and legal departments outsourcing litigious and non-primary processes to third-party service providers. These providers are often in different regions who specialize in delivering a range of support services for the legal industry. Law firms can focus on core tasks by letting experts handle other essential work, making sure that everything gets done well and safely.
Now that everything’s set, here are some of the key benefits of legal BPO services:
Like any other outsourced service, using legal BPOs will cut spending. This will happen across many parts of the business. Law firms can benefit from operational and recruitment costs, and operational scalability when outsourcing services.
Firms can reduce their operational expenses by opting for outsourcing. With this, legal BPO providers have the necessary infrastructure, technology, and skilled workforce. These resources allow law firms to access these resources without making direct investments. This results in savings on office space, utilities, technology acquisition, and maintenance.
Legal BPO services are usually based in regions with lower labor costs. The tradeoff is having access to a competent workforce. This enables law firms to use proficient staff at a fraction of the cost of hiring domestic talent. Established legal BPO providers adhere to strict quality control measures. Moreover, adherence to quality standards meets or exceeds outsourced work expectations, contributing to higher client satisfaction levels.
Recruiting and training personnel is time-consuming and expensive. By outsourcing, law firms can avoid these costs and duties. The BPO provider manages them, updating their workforce with the latest tools, industry trends, and legal standards. This gives legal firms flexibility with their budget. They can save on other core processes instead of spending on overhead costs with training and recruitment.
Outsourcing allows law firms to be scalable with their operations. They adjust their services up or down based on demand without hiring or laying off staff. This flexibility is cost-efficient, aligning operational expenses with revenue. To add, this also prevents overstaffing during lower work volumes.
The reduced outsourcing costs and commitment also offer firms the flexibility to experiment with new services or strategies without the pressure of high overheads. This can encourage innovation and adaptation in a rapidly evolving legal landscape.
A law firm partners with a legal BPO. The partnership allows the firm to distribute resources, improve processes, and focus on strengths. This will help the law firm to be more efficient and effective.
With LPOs handling routine tasks, you can dedicate more time to their core activities. Tasks such as client consultation, trial preparation, and strategic planning are essential. This process hits two birds with one stone as it enhances efficiency and the quality of legal work.
Legal firms should note that outsourced LPOs operate with defined service level agreements (SLAs) and performance metrics. They focus their swift services on delivering within agreed-upon timelines. They also focus on competence and standards. This can help firms meet deadlines and client expectations.
Another advantage of outsourcing legal BPOs is that law firms can extend their hours. They can give 24/7 support to clients in different time zones. This global reach can benefit firms handling international cases or clients in different jurisdictions. Firms can work better around the clock with 24/7 support and global reach. This boosts profits and makes clients happier.
Outsourcing LPOs boosts client satisfaction in legal firms. It involves strategic processes, like using technology, getting feedback, and being client-centric. Legal firms can boost client satisfaction and loyalty by using legal BPOs strategically. This move strengthens their position in the competitive legal market.
The beauty of outsourcing an LPO is that your company will be open to more than domestic applicants when hiring professionals to add to your team. Legal firms can tap into a global talent pool through an outsourcing partner. They gain access to expertise that might not be available in-house or on a local scale.
It’s typical for legal BPO firms to have a global presence. This lets them hire professionals with specific skills from anywhere around the globe. Access to a broader talent pool allows law firms to find the needed expertise for legal tasks.
Keep in mind different cases need different specializations. LPOs often employ lawyers and legal professionals with specialized skills in niche areas of law. For example, they may have intellectual property law, international trade law, or tax law experts. Law firms can leverage specialists for specific client cases without hiring full-time staff.
Also, hiring full-time specialists for every legal area can be too expensive for law firms. This is especially true for smaller ones. Through a legal BPO, they can access expertise without the costs of full-time salaries and benefits.
BPO firms follow strict quality control measures. They ensure compliance with laws and data security standards. This helps law firms mitigate data breaches, confidentiality breaches, and regulatory non-compliance risks.
Now that we’ve laid out the key benefits of leveraging BPO services, the next step is to choose a capable service provider. Luckily, there’s no need to look any further. When it comes to legal BPO services, there’s no other partner better than STAFFVIRTUAL.
We are backed with fruitful partnerships throughout 15 years of excellence and experience. We also take pride as the one-stop outsourcing shop. Thanks to our pool of trained professionals in the Philippines, coupled with our efficiency and competitive prices, our outsourcing solutions guarantees to take your legal business to the top.
Our competitive packages, tailored solutions, and rigorous screening process will make your law firm reach its highest potential in no time.
Call us today to discover how our world-class services can help your firm achieve its objectives and more.
Sources:
What Is a Service-Level Agreement (SLA)? And How to Write One | Coursera
Law Resource Guide | CQ University Library
Legal Process Outsourcing Market Trends | Grand View Research