India: Emerging as “Home” to Legal Process Outsourcing
Outsourcing came into being as a business strategy in 1989 and has gained momentum ever since, with presently 68% of companies in the U.S opting to outsource a portion of their workforce.
In their zest of looking for efficient, cost-effective locations for outsourcing their work, companies abroad have struck gold in India.
While being recognized as the outsourcing destination for Information Technology, India is now emerging as home to legal process outsourcing. More and more offshore law firms are now opting for legal outsourcing from Companies in India.
The next question now which needs to be answered is..
What is Advantage India for law firms?
The five primary reasons as to why India is emerging as the foremost choice for law firms abroad for outsourcing their legal work are as follows:
• Quality Resources at Lower Costs: India is the most cost-effective when it comes to outsourcing, as labor costs in U.S., U.K., Australia, Canada are much higher than in India. Any company choosing India as the outsourcing destination benefits by saving significantly on the employee cost while not compromising the knowledge, skill, or quality of services as India promises all of the above at a reasonably competitive price.
Outsourcing legal work to India slashes an organization's operative costs by half, thereby giving them the financial leverage of making investments towards organization growth instead.
• Extensive Talent Pool: India boasts of its pool of qualified legal professionals knowing the law system, civil procedures, and local rules of all major countries. They are not as highly-priced as their counterparts in the US/UK/Australia/Canada, making them the first choice for law firms abroad. Notwithstanding the quality of work delivered by them, which is always at or above par with any local talent. The fact that Indians are known to speak better English than the other outsourcing counterparts helps in seamless communication and a better understanding of the requirements.
In addition to lawyers, India's talent pool comprises of professionally qualified and highly skilled paralegals and administrative assistants who can help businesses abroad by delivering daily tasks. This can give the client much needed time to focus on more significant tasks resulting in organizational growth.
• Time Zone Benefit: India's geographical placement gives it an additional benefit in being the chosen destination for legal firms abroad. The twelve-hour time zone difference to the U.S. works for the legal firm outsourcing its work to India, wherein the client can get someone working on its requirement when he/she has called it a day there. Not only that, with most of the Indian LPO's operating in a 24-hour format, the client gets an option to get the resource work during his hours or any time during the day which he/she deems fit immaterial of its location on the globe.
• Flexible Hiring Options: A legal firm having a small chunk of work to be taken care of makes a smart choice by opting for an LPO in India as then, he has options of hiring talent for part-time or hour basis(as per its workload). This is not something the law firm could quickly achieve locally. Getting a part-time resource will be an expensive option and increased overheads for the client in managing compliance and HR-related matters for just a part-time staff.
All of these can be outsourced to an Indian LPO, which is responsible for providing the right employee for the job and facilitates by providing end to end employee management and infra and administration.
• Data Security & Confidentiality: The only worry plaguing the minds of owners or representatives of legal firms wishing to outsource their work to India, is data security and confidentiality. This, in turn, is well-conceived and interpreted by the Indian LPO’s wherein most of them get a Non-Disclosure Agreement executed at the start of the contract. This document rules out any foul play by either party. It lists down the LPO’s and clients' or law firms' responsibility and rights while clearly outlining the clauses on data security and confidentiality.
It gives the clients the added documented surety before sharing their business-critical information with the employee working dedicatedly on their project.
At Zedtreeo, we promise you all of the above and much more at the most competitive prices.
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