India is a much favored destination for legal process outsourcing. According to Indian consulting firm Valuenotes, the revenue of Indian legal process outsourcing is expected to be around $1.1 billion in 2014, an increase of 38% from 2008. There are many reasons why Indian LPO providers have emerged on top:
Cost: Legal professionals in UK and USA charges on an average of $400 per hour for work like drafting legal contracts and legal memos, while an Indian professional with the same skills could deliver the same output or a better package for $50 per hour.Â With the global economic crisis making it difficult for legal firms in the West to cut costs, most of them continue to rely on Indian LPO companies.
Quality: One of the main reasons why India is considered a good legal outsourcing legal work is availability of expert lawyers who have trained in the US and UK. They are able to handle even complex legal documentation issues with accuracy levels of up to 99%. Moreover, the legal policies followed in India are somewhat similar to their system. Performance metrics have been created to ensure that LPO services adhere to the necessary standards of quality.
Security: Security and confidentiality concerns come to the fore when it comes to legal business process outsourcing. To address these concerns, established LPO companies have implemented measures to safeguard client data. Their staff is fully trained on maintaining the security of the information they handle.
Many LPOs provide a combination of onshore/offshore solutions. Established companies based in the US with offshore locations in India assure that value added legal transcription services are provided in customized turnaround time and at competitive prices. Legal process outsourcing to reliable outsourcing companies with locations in India is helping legal professionals in the U.SÂ save 30-40% on their operational costs â€“ without compromising on quality.