The growth of Legal Process Outsourcing (LPO) industry in Asian and African countries has given the global legal services sector a reason to celebrate. The LPO industry has become extremely popular throughout the international market, creating waves all across the globe. Various multinational corporations and law firms, especially in the USA and UK have gained substantial benefits from the presence of professional LPO companies in India. The presence of LPO companies has helped in simplifying complex legal processes and enabled domestic legal firms to work more efficiently and effectively, as a major part of the complex legal documentation work is carried out by the LPO companies overseas.
The biggest global market today, for outsourcing legal work is undoubtedly in India. The country with its huge, talented and skilled labor pool has been a major source delivering consistent work quality. Implementation of various identifiable and measurable quality-control initiatives by Indian LPO companies have also helped them in delivering top quality work-product thereby attracting various multinational corporations and law firms to outsource complex legal documentation to the Indian market
India offers a comparatively cheaper labor rate for a highly skilled workforce, which is competent enough to handle the most complex global legal operations. Employees working in the legal sector in India earn up to 30 to 70 percent lower wages, compared to their USA counterparts. This allows domestic firms to reap significant cost savings that are further reinforced by the cost of infrastructure in India, which is remarkably low.
The legal system prevailing in India is similar to the legal systems of UK and USA, which helps facilitate better understanding of client requirements, as well as timely delivery of work. Also, the availability of English speaking attorneys in India ensures clear communication between the parties minimizing the chances of errors created due to language barrier.
The geographical time difference of India with USA and UK helps in round-the-clock delivery of urgent projects or assignments. This considerably reduces the time involved in the legal process thereby allowing domestic law firms to function more efficiently. Various Indian LPO companies work round-the-clock on pressing legal projects, meeting tight deadlines and delivering high quality work.
The legal information outsourced by domestic law firms and multinational corporations require a high level of privacy and confidentiality. Indian LPO companies are extremely particular about the security of such data and ensure zero leakage of information by implementing stringent security measures.
Apart from all this, it is predicted that skilled labor force in India would increase at a rate of about 15 million a year. This would ensure a huge pool of qualified employees for law firms in the USA, Europe, and several other parts of the world, where there is an ever increasing demand for labor.
The future of LPO is looking better than ever. It is worthwhile to note that besides India, other countries such as Australia, China, Philippines, South Africa and South Korea are also gaining momentum in the LPO sector. The journey has only just begun for this sector, and the coming years promise more legal service providers emerging from diverse global locations. India’s huge pool of skilled professionals, rapidly improving technology and infrastructure, high quality work and geographical time difference helps India retain her popularity as a widely-favored LPO destination.
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