FOR IMMEDIATE RELEASE
Top Three Trends in Legal Outsourcing for Global Law Firms – Intelliteach, today’s premiere provider of professional outsourcing solutions for global law firms, shares three trending topics as successful law firms work to become even more productive and re-imagine their approach to managing processes in order to achieve consistent growth and financial success in the future.
Today, not only are law firm IT and HR managers interested in outsourcing administrative and technology support, but these same issues to demonstrate increased service quality, optimize partner profitability with fewer resources and minimize capital expenditures have been elevated to senior level executives including CIOs, CTOs, CFOs, CEOs and even Managing Partners. Senior leaders must manage these functions for the future and consider clients’ external requirements for increased predictability in key areas such as high quality client service, expense management and technology security. The top three outsourcing trends for law firms of all sizes include changing delivery service models to deal with reduced budgets while maintaining service quality, staying abreast of innovative technology and finding experienced outsourcing partners to support everything from legal document management and accounts receivables.
The first trend in outsourcing for law firms is the growing effort to remain competitive by converting fixed costs to variable. Word processing, legal assistants, records management, litigation support services, and managed document handling are all new areas worthy of consideration for greater predictability in terms of cost cutting and increased resource utilization. According to Seelin Naidoo, CEO, Intelliteach, “The key to success in this area is to ensure outsourcing partners adhere to high quality standards in addition to reducing expenses. Firms should research outsourcing partners to ensure best-in-class management methodologies, including ISO Certification and other regulatory standards. One size does not fit all in the area of quality outsourcing, and consultancies that specialize in the legal industry are key to mutual success given the high risk associated with legal liability related to outsourced workflows. Top notch outsourcing partners will employ legal industry professionals, as well as build tools, technologies and teams that specifically cater to risk mitigation and 24/7 accessibility needs of the global law practice.”
In addition to doing more with less, the second top trend in legal professional outsourcing services is the need to reduce capital expenditures while still providing reliable, cutting edge technology as demands of legal staff increase and the complexity of the legal IT department expand exponentially each year. As technology increases mobility both inside and outside the law office, law firms must also balance this trend with privacy and confidentiality standards unique to the legal industry. Rather than investing in additional infrastructure and technology expertise to keep up with the knowledge of advanced software applications, top firms are choosing an outsourced provider to stay ahead of the technology curve. In addition to expert knowledge and support skills required to offer substantial support to lawyers and other end users, outsourced partners offer firms extended hours, weekend and holiday coverage to ensure that “on demand” needs are met. Many firms understand that tapping into the expertise of an intelligent outsourcing partner allows them to empower their partners and staff with technology hardware and software that is consistently maintained, supported and improved. Finally, working with a qualified legal outsourcing partner enables law firms to reduce capital expenses while increasing technology services.
The third top trend in legal outsourcing is the market pressure to partner with highly qualified and proven outsourcing companies who understand the legal environment and the challenges innate in this highly regulated and layered field. As risks and regulatory pressures grow, compliance and IT/data security are some of the major challenges for any law firm, especially as related to business partners through outsourcing. Law firms should seek out relationships with trusted industry experts who offer the breadth and depth of experience needed to find solutions unique to the legal industry. Firms that specialize in intelligent deployment of technology, understand how the cloud affects the ability to share documents securely, as well as, partners who train their staff in the new alternate fee based arrangements, tracking systems and complex billing systems ensure law firms’ outsourcing goals are put into practice on a daily basis.
Global law firm executives who take steps to understand the top three trends in legal outsourcing and implement solutions will gain a competitive advantage in the short term, as well as, position their firms for long term growth. Tapping into best in class professional outsourcing partnership strategies, legal executives will reap substantial benefits including those from scalable reporting tools, actionable operational insights and cutting edge technology expertise. Investing in the right professional outsourcing strategy offers global law firms the ability to become more efficient, more effective and more empowered–extending the scope and the scale of their legal teams to practice law around the globe armed with robust technology, expert support services and peace of mind.