Outsourcing legal work has become a trend in the past few years. It is a growing trend in the legal profession due to the increasing fees and prices for legal services locally.
No company or firm can function without a legal department that gets all the work sorted out and worked.
It is an essential department and an essential sector in every company. So instead of paying enormous fees to local legal firms, you can outsource that work to experts abroad that will be able to take care of those issues in a professional and timely manner.
Legal process outsourcing has increased due to the increasing demand in outsourcing in general.
Firms in western countries have started outsourcing their legal work to benefit from the low living costs in countries like Bosnia and Herzegovina and at the same time use trained professionals that are ready to ensure the accuracy and legitimacy of the work.
Advantages of legal process outsourcing
1) Huge cost savings
As mentioned before, outsourcing legal work will save you a fortune that you can use in improving other aspects of your business or hiring staff in other departments that need more workers. Outsourcing will give the highest quality work for the least costs, what’s there to hate? With the availability of skilled labor, you can cut down your operating costs to as much as half.
2) 24/7 support
By outsourcing LPO services, you will be able to get legal support at any time of the day, you will always have attorneys that are ready to help you or provide you with what you need depending on the time zone you are based in. Our attorneys are trained and ready to help you in the time you need. By utilizing the time zones difference you will be able to have your projects worked on 24 hours a day.
3) Access to external talent
Outsourcing legal research work to external firms allows your organization to access a higher level of talent and niche expertise that might not exist within your firm. This happens often For example: litigation firms might lack expertise support so they may end up outsourcing certain aspects such as document reviewing and coding to niche providers. Access to external talent is really useful for small firms to fill gaps in internal competencies. Global expertise will be motivated and highly trained to handle all your legal work and will be ready for any consultation.
4) Reduced turnaround time
The use of external talent will help expand internal bandwidth to reduce the turnaround time for legal projects. The use of an onshore team and an offshore team will allow organizations to complete a project in a very short time frame. As mentioned before this will allow projects to be worked on for 24 hours a day since the time zone differences between countries. This will help get projects done in half the time it usually takes.
Employing a combination of onshore and offshore firms will allow the law firm and organization to tailor the capabilities in response to the workload and client demands.
For instance, you won’t have to pay an entire department, instead, you will just hire a temporary attorney abroad that will handle the legal processes for this period of time.
This will save a lot of money and reduce expenses. Workflow challenges are prevalent for small and mid-sized firms.. By outsourcing, law firms can avoid the fixed costs of salaries and the benefits associated with full-time workers.
6) Focus on the business’s mission and bottom line
In case you aren’t a law firm, you might want to focus more on the bottom line of your business and focus more on developing and improving the product or the service you provide. Well with outsourcing you will be able to do that.
You don’t have to spend time and money managing a legal department or paying a fortune to law firms locally to handle your legal work.
You can outsource all the legal work to an offshore firm that will take care of it, while you focus on catching up with your competition and improving your service or product.
Currently, 76 companies offer legal services in BiH, only 18 companies included in this analysis are older than 10 years, 18 companies are between 5 to 10 years old and 36 up to 5 years old, indicating the stable trend of new legal firms showing up on the market in recent years. Domestic firms including Dimitrijevic & Partners, Maric Law firm & Law Office Miljkovic & Partners dominate the legal market with international firms including CMS Reich-Rohrwig Hainz D.O.O. in cooperation with local lawyers also enjoying a substantial volume of local and international work.
In today’s digital connected world data confidentiality, privacy, and security are key priorities for businesses and society in general. As a potential candidate for EU membership Bosnia-Herzegovina local businesses that manage the data of EU citizens are required to comply with GDPR regulations. Compliance with all regulations and business standards is necessary for building trust and providing a great service which makes BiH ideal for outsourcing legal services.
Restart can help match you expert service providers, and provide the best, customized solutions. Just follow the steps and tips in this article, and you’ll be all set to outsource your legal department.Once you have the right service provider and the right set of tools, you’ll enjoy all the benefits legal process outsourcing can offer you before you even know it.
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