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Part - III
Outsourcing Provider Bridges the Gap
| Law Firm's Internal Capability |
Law Firm + Outsourcers Capability |
| Lack of timely, accurate data resulting in inability to assess and project firm's Financial Performance |
Firm's Chief Financial Officer is freed to focus on Financial Performance Analysis |
| Inability to attract and retain skilled Accounting Personnel |
Assures access to skilled Accounting Staff |
| Slow billing, slow collection affects cash flow |
Effective timekeeping, billing, accounts receivable processes and effective management of clients expenses leads to increased cash flow |
| Rising cost of technology |
Assures capital investment in technology |
| Rising cost of staffing personnel, rising cost of investing in New Lawyers, slowdown in pipeline of New Client matters |
Operational cost saving available for Firm's expansion and acquiring New Clients |
| CFO and Management time spent on oversight and management of Personnel and Process rather than on strategic Initiatives and Analysis |
Firm's management team freed to focus on Strategic growth and core activities |
| Lack of best practices resulting in inefficient practices |
Assures best practices making operations more reliable, predictable, and cost effective and provides a foundation for continuous improvement |
What Can Be Outsourced
Broadly, the work outsourced offshore can be classified into four categories based on complexity and skill base required: -
The first category involves content work including editing and transcription.
The second category involves conversion from one format, say, from a word document to XML or Legal XML.
Legal research involves case histories, judgment, and finally client briefs going up to the penultimate stage of a petition submitted to the court.
Legal transcription involves conversion of interviews with clients or witnesses by lawyers into documents, which can be presented in court. It is no different from any other transcription work carried out in India.
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*Contributed by -
Shuchi Singla,
Global Business Operations, Semester-11,
Shri Ram College Of Commerce,
University Of Delhi.
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