Legal Process Outsourcing (LPO) is no longer a business model that is being tried-and-tested by large companies with large budgets to support such ventures. Today it is a standalone business sector, within the larger IT business domain. Further, statistical studies reveal that it is headed to become a multibillion-dollar industry due to the digitization of legal processes in most countries of the world.
Amply supported by new principles which the World Trade Organization (WTO) and its sister regulatory agreements like GATT are adopting in the post-digital age, LPO has assumed an industry status. The latest guidelines by GATT/WTO encourage the distribution of services between member countries, without restrictions. The first and primary beneficiary of the liberalized legal services is the Indian LPOs. They have established themselves as the pioneers in this
Hidden Story 1: Expertise, Good at Their Job
These well-structured and self-sustained units follow exemplary standards in functioning and operations, backed by the US, UK and Australian law practitioners of Indian-origin. Their expertise in local laws helps them to deliver services which are on-par with onsite service providers in native countries. However, where they differentiate themselves from the local players is their incomparable capacity in legal research, interpretations and legal finesse. Backed by teams which have a long history in legal case studies, documentation, legalese and more, there is a clear line of argument developed with all angles of interpretation and exceptions covered.
Hidden Story 2: Marketing Finesse
The remarkable success the Indian LPOs have had thus far is the smartness with which they have taken to marketing their services. With quality work, that honours time schedules apart from exemplary legal work, most new age legal professional have an LLB with a management post graduation such as an MBA. Therefore, they are familiar with marketing techniques and optimize the available resources to network and position their brands attracting quality customers. Then, the loop is taken forward, as clients spread around the good work and the cost efficiency such LPOs bring to their firms. Therefore, if you want to run a successful LPO, you should have the right legal jobs marketing executives, who understand international business practices and can work in multiple time zones.
Hidden Story 3: Well-Paid Executive Team
Indian LPOs typically pay their legal teams very well, ensuring there is low attrition and long-term work satisfaction. They offer valuable add-on packaged benefits like health insurance, club memberships and more. They work hours are also in time-slots encouraging direct engagement with client timelines.
Hidden Story 4: Quality Standards
They persist with ISO 8402-1986 standards and ensure there is delivery of quality services at all times. Error-free and deficiencies and low variations are their hallmark. Their client-relationships are professional, consistent to a CRM framework.
Hidden Story 5: Data Security
Indian LPOs have set high standards in data security and confidentiality practices, bound as they are by Non-disclosure agreements. There is active surveillance with CC-TVs in the facilities and more.
The highlight of every LPO in India, which have been successful, is their highly responsive website, which reiterates their services – SAARC (Speed, Accuracy, Availability, Reliability as well as Cost).
These 5 factors have led companies to great success in the past. As the LPO industry becomes more competitive it is up to the next generation LPOs to improve on these factors and help in further development of the industry. Maintaining high security standards, and backed by exemplary legal functioning, researching, data mining, analysis and application of legal mores and norms by India’s highly skilled and trained lawyers, attorneys and seniors have driven the success of this industry. They continue to be the primary source for further development of this sector.