Legal Process Outsourcing - LPO

Cogneesol Inc.

LEGAL PROCESS OUTSOURCING: ARE YOU AWARE OF IT? By: Alika Cooper

WWW.COGNEESOL.COM

INTRODUCTION

LEGAL PROCESS

OUTSOURCING

Cogneesol Inc.

February 2018 LPO Report

Legal process outsourcing is the process of assigning law-related tasks to an external firm (globally) that is able to handle those tasks efficiently. A lot of small and large-scale law firms are outsourcing legal work to external firms nowadays. India is at present world’s leading LPO destination.

THINGS LAW FIRMS LOOK IN AN LPO? Clients of legal back office services look for a firm with strong administration and domain expertise, good work references, end-to-end assistance, the ability to scale, and worldwide delivery capability.

Cogneesol Inc.

February 2018 LPO Report

MANY FACTORS HAVE FUELED THE LEGAL PROCESS OUTSOURCING TREND, LIKE: GLOBALIZATION

ECONOMIC VARIATIONS ALONG WITH INCREASING PRICE OF LEGAL SERVICES

INCREASED AUTOMATION OF LEGAL FUNCTIONS

IMPROVEMENTS IN INFORMATION SECURITY

Cogneesol Inc.

February 2018 LPO Report

DEVELOPMENT OF THE INTERNET TECHNOLOGY

NEW TECHNOLOGICAL TOOLS

LEGAL OUTSOURCING TIPS AND BEST PRACTICES

#1

Solving a prospects' problem

#2 #3

New ways of working Additional Advantages Outsourcing requires updating

#4

Career-Launching Experience

#5

Learn it from the experts

#6

Additional Advantages

Cogneesol Inc.

February 2018 LPO Report

#1 SOLVING A PROSPECTS’ PROBLEM

Legal outsourcing services aren’t just about selling, it is actually solving the law firms concern and providing them with every single solution.

#2 N E W W A Y S O F W O R K I N G Earlier LPO was considered like other back-office support but now law firms and legal departments are more open regarding utilizing legal outsourcing.

Businesses need it to reduce the expense of regular legal function, maximize speed and increase flexibility/scalability that allows law firms and legal departments to deal with unstable workloads.

#3 OUTSOURCING REQUIRES UPDATING The old outsourcing process mantra will even require updating: using technology with Artificial Intelligence(AI).

And a lot of legal outsourcing firms have now adopted AI to deliver better outcomes.

#4 CAREER-LAUNCHING EXPERIENCE New lawyers are able to achieve important career-launching experience by doing work for an LPO - several brilliant and skilled individuals opt to work with Cogneesol.

#5 LEARN IT FROM THE EXPERTS The most profitable law firms had given their attention to branding and engagement.

Outsourcing of legal back office work save lots of time and help financially.

Outsourcing to a third party will help in the expansion of business.

#6Â ADDITIONAL ADVANTAGES Accessibility to outside talent Round-the-clock availability The ability to cut back operations

OBSTACLES IN OUTSOURCING LEGAL PROCESSING: Lack of awareness Information security concerns Work quality concerns Research and document review dominates offshore work

Cogneesol Inc.

February 2018 LPO Report

STRATEGIES FROM THE WORLD’S TOP PERFORMING LAW FIRMS Start with your goal in mind Find experts Pay close attention to privacy concerns Provide adequate supervision Bill carefully

Cogneesol Inc.

February 2018 LPO Report

SERVICES LPOs OFFER TO LAW FIRMS • Legal accounting • Contract drafting, review and management • Document review and drafting • e-Discovery • Legal research and writing • Litigation support • Data analysis and management

Cogneesol Inc.

February 2018 LPO Report

TOP TRENDS IN LEGAL OUTSOURCING • Outsourcing continues to grow—and its stigma is diminishing.

• Lean and mean legal functions are a top priority.

• Hybrid onshore/offshore outsourcing is very popular.

Cogneesol Inc.

February 2018 LPO Report

TOP PROVIDERS OF LPO SERVICES

CLUTCH GROUP

COGNEESOL

Cogneesol Inc.

February 2018 LPO Report

AMERICAN DISCOVERY

COBRA LEGAL SOLUTIONS

AMSTAR LITIGATION SUPPORT

INFOSYS

REFERENCES https://www.thebalance.com/legal-process-outsourcinglpo-2164405 https://www.cogneesol.com/legal-services http://cobralegalsolutions.com/pdf/cobraTop10.pdf http://www.kxxv.com/story/37191233/legal-processoutsourcing-lpo-2017-global-market-opportunitieschallenges-strategies-forecasts-2022 http://www.legalsupportworld.com/ http://apps.americanbar.org/litigation/litigationnews/200 7/july/0707_article_outsourcing.html https://www.huffingtonpost.com/robert-gogel/top-3trends-to-watch-in_b_10856942.html http://www.satprnews.com/2017/12/21/legal-processoutsourcing-market-lpo-with-an-impressive-cagr-growthby-2022-new-business-opportunities-and-investmentresearch-and-top-manufacturers-profiled-in-detailamong-others/ COGNEESOL INC. • FEB 2018 LPO REPORT

NOW, ARE YOU READY FOR LEGAL PROCESS OUTSOURCING (LPO)?

Cogneesol (ISO 9001:2008 certified) has successfully provided legal outsourcing services as a reliable partner to more than 300 law firms, lawyers and corporations in the last 9 years.

At Cogneesol, we work hand-in-hand with the lawyers, assisting them in all the case-related administrative tasks and giving ample amount of time to concentrate on their core legal tasks.

Cogneesol Inc.

February 2018 LPO Report

CONTACT US

THANK YOU FOR YOUR TIME! Kindly get in touch to let us know if you have any questions.

WWW.COGNEESOL.COM INFO@COGNEESOL.COM +1 646 688 2821

Cogneesol Inc.

February 2018 LPO Report

30 WALL STREET, 8TH FLOOR NEW YORK, NY 10005-2205