Legal Process Outsourcing

 


Legal process outsourcing or virtual secretarial services can be a significant cost-saving measure. Instead of dedicated internal resources, discrete legal services are transferred to external companies, local lawyers, or paraprofessionals.  Think about all the mundane routine tasks that can be done by outside help.  You can leverage the strength of other experts to save time, cut costs, and reduce your workload.  This allows you to focus on what you do best.  In other words, bringing in new business for your firm and offering top service to existing clients.

Industry trends for legal process outsourcing

Legal industry trends for 2020 show that clients expect law firms to go above and beyond the traditional offering of services and support. More law firms are turning to legal outsourcing to stay competitive and profitable. In fact, the global legal process outsourcing market was estimated to expand at a compound annual growth rate of 31.8% from 2019 to 2025. The market is projected to reach $35.9 billion by 2025.

Here are some other factors that indicate the industry’s growth:

·         $6.2 billion is spent annually with legal process outsourcing, e-discovery, and document review service providers, according to Thomson Reuters and the Georgetown Law Center for the Study of the Legal Profession.

·         The same study on alternative legal service providers also finds that $900 million is spent annually with contract lawyers, in-sourcing, and staffing services.

·         48% of law firms in the 2019 Altman Weil Survey say they use contract lawyers, 57% report using part-time lawyers, and 24.1% report outsourcing non-lawyer functions.

5 benefits of legal process outsourcing for law firms

At its core, legal process outsourcing is a convenient way to increase capacity, focus on the strengths of your law firm, and increase profitability. In fact, 62.1% of law firms in the 2019 Altman Weil Survey report that shifting work to contract lawyers “resulted in significant improvement in firm performance.”

 The top five benefits to legal process outsourcing for law firms include:

1. Expanding your practice area expertise.

There are so many different types of law practice that your law firm can’t be an expert in all fields. By outsourcing specific law services to contract lawyers, you meet all the needs of your clients without having to hire a full-time employee.

2. Enabling flexible staffing for your client cases.

Freelance attorneys provide their services only when your law firm needs the help. By going freelance, you can find qualified legal help at any skill level for any kind of project or case.  And a bonus? Hiring a lawyer in a freelance capacity is a great way to try out the working relationship before committing to a full-time hire.

3. Moving towards flat-fee billing.

Outsourcing via Law Clerk lets you engage talented lawyers to assist you with discrete projects or entire cases on a flat-fee basis. You can charge your clients a set fee or provide blended fee caps for legal work. Learn more about law firm billing in our comprehensive guide.

 4. Lowering the cost of your legal services.

LAWCLERK, for example, doesn’t charge its users any sign-up or monthly fees just to be a part of the marketplace. You only pay the flat fee price you set when you hire a freelance lawyer through the site. In the end, your clients benefit from these savings.

5. Finding work-life balance.

Solos and firms are under more pressure than ever to work constantly to make a profit. Freelance lawyers bring in extra help when you need it, without the overhead of a full-time associate. Use the extra time to recharge with your friends, family, and hobbies.

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