5 LPO Benefits to Win the Australian Legal Market

LPO benefits australian legal market a team of outousrced paralegals and document specialist are having a brainstorming

The challenges of the new normal and remote work have also impacted the functions of legal practitioners.

Like the rest of the world, the Australian legal profession is changing. Hence, law firms must find opportunities to meet the demands of the new normal. This includes capitalising on LPO benefits to win in the Australian legal market.

In addition, there is increasing pressure to innovate and implement digital transformation strategies for flexible services delivery. However, engaging with a trusted LPO provider can help your firm become more competitive and profitable in the new normal. 

LPO benefits australian legal market male solicitor is having a discussion with his female paralegal and male document specialist

5 LPO benefits to win in the Australian legal market

Legal process outsourcing (LPO) is already a common practice within the legal profession. In fact, the global LPO market is forecasted to reach USD$61.71 billion by 2027. Moreover, leveraging LPO helped law firms worldwide adapt and thrive amidst organisational restructuring and changing legislation during the pandemic.

In Australia, a recent report found that LPO is the 3rd most popular NewLaw business model adopted in 2021. However, despite its growing popularity in the Australian legal market, some legal practitioners still hesitate utilising LPO. Moreover, the same report showed that 73% of in-house legal counsel have never used LPO services.

To find out if outsourcing is the solution for your firm, consider these 5 LPO benefits to win in the Australian legal market:

1. Optimised and innovative processes

Utilising new technology can improve legal services delivery. However, legal practitioners have little time to research on the available software to optimise their processes. Moreover, their limited budget hinder law firms from implementing the tools they need to automate tasks.

LPO gives law firms access to innovative technology without the additional overhead costs. With the right tools in place, you can promote better collaboration, transparency, access to information on legal matters and efficiency. 

Moreover, some LPO providers offer the advantage of an end-to-end technology solutions—from advice to integration and maintenance. Thus, giving you the opportunity to offer not only the most beneficial legal advice, but also a seamless experience.

2. Going and staying lean

Rising regulations and litigation expenses are causing legal costs to increase. Moreover, the emergence of alternative legal service providers (ALSPs) and virtual firms has empowered buyers to demand access to low-cost legal services. Hence, law firms are looking for opportunities to cut costs—often at the expense of their employees.

LPO helps firms streamline back-office and legal functions without breaking the bank. Your outsourced legal specialist can complete the transactional legal work, resulting in cost savings which you can pass on to your clients. 

Outsourcing not only helps your firm run lean, but also enables you to offer high-value advice at a lower cost. Moreover, leveraging the skills of your outsourced staff helps you focus on building a positive emotional connection with your clients.

Whether you need a sophisticated cloud-based collaboration platform or a document review software, LPO providers can deploy the resources in your firm.

3. Providing business and financial advice

Increasing demand for legal services in the areas of transactional practices is reshaping the Australian legal market. In particular, the surge in mergers and acquisitions (M&A) is driving the growth of the financial services side of the legal practice. Hence, the role of legal practitioners is changing—from trusted legal advisor to the broader and crucial business advisor.

LPO helps firms go beyond traditional legal guidance and focus on higher-value activities. Outsourcing also gives you more time to work on complex legal matters and industry-specific consulting.

Moreover, outsourcing gives your in-house staff a more strategic role in helping your clients address their legal matters. Thus, you can solve your clients’ legal matters more effectively and provide valuable advisory services.

4. Supported Talent Retention

Despite the increasing profitability of the Australian legal market, there is a growing shortage of legal talents. Law firms in the US and the UK are offering huge salaries to associates who are willing to work abroad. Thus, Australian firms are offering competitive salaries to keep their ranks and attract candidates.

LPO streamlines legal processes to help firms move away from manual tasks. Outsourcing the “unwanted” time-consuming work enables your in-house staff to focus on improving their core competencies. 

Providing continuous education and development and utilising LPO services can improve your firm’s ability to acquire and retain talents.  Moreover, you can ensure a dynamic and collaborative work culture and promote stability and loyalty within your team.

5. Heightened Cybersecurity protocols

Cybersecurity has been a growing concern globally, especially with the growing dependence on online transactions. From buying groceries and paying bills, to work and education—everything and everyone is now online. Unfortunately, cybercriminals are taking advantage of our need to make online transactions to commit fraud. Even more concerning is that there is a growing shortage of cybersecurity skills in Australia.

LPO not only offers firms with access to advance technology but also to sophisticated cybersecurity—at no extra cost. In general, outsourcing providers already have strict cybersecurity protocols in place to protect their clients’ data, especially during disruptions. Thus, you are assured that your clients’ and your important data are safe and secured.

Some LPO providers also offer the benefits of a Managed Service Provider (MSP) relationship. This means you can also outsource all your software and hardware needs, including cybersecurity. 

With the increasing number of cyberattacks and threats, law firms need to strengthen their cybersecurity and deploy more advance safety protocols and certificates.

LPO benefits australian legal market a team legal practitioners discussing their next case

How to enjoy LPO benefits and win in the Australian legal market?

Indeed, LPO can provide end-to-end solutions to matters encompassing people, processes and technology. A good outsourcing provider also helps boost your in-house staff’s efficiency and skills and enables them to easily scale when necessary. Moreover, LPO helps create more value for both clients and staff, which results in a beautiful lasting relationship.

DBA provide legal support and paralegal services in the areas of property law and conveyancing, family law, wills and estates and loans and mortgages. Our team is comprised of solicitors, experienced paralegals, and document specialists equipped with innovative and advanced technological skills. 

We ensure that all your outsourced tasks are completed in a timely manner and meet the standard regulatory requirement. Moreover, we have an in-house team of cybersecurity engineers to guarantee the highest level of data security and privacy.

We can help your firm remain competitive and profitable, whilst giving you peace of mind that your data is safe. In addition, our team can support your efforts to improve agility and flexibility and upskilling your in-house staff. Moreover, we can transform your firm so you can be poised to advance in the global legal industry. 

Maann Sagun, MDC, DMP

Maann Sagun, MDC, DMP

Maann is a Communication Specialist and educator—masking as the Senior Content Writer of DBA. She is also a Digital Marketing Professional and specializes in SEO Audits. Maann has taken both her master’s degree in Development Communication, and bachelor’s degree in Mass Communication from the University of the Philippines.
Maann Sagun, MDC, DMP

Maann Sagun, MDC, DMP

Maann is a Communication Specialist and educator—masking as the Senior Content Writer of DBA. She is also a Digital Marketing Professional and specializes in SEO Audits. Maann has taken both her master’s degree in Development Communication, and bachelor’s degree in Mass Communication from the University of the Philippines.

Share

Facebook
Twitter
LinkedIn

Leave a Comment

Your email address will not be published. Required fields are marked *

Gillian Delos Reyes, MBA, LCB, DMP

To stay competitive in an era of rapid change, future-proof your business with these 5 approaches to reskilling for future-ready workforce.

Read More »
Gillian Delos Reyes, MBA, LCB, DMP

As the holidays approach, online business activity will increase, but so will the lurking threats – holiday season cyberattacks.

Read More »
Aureen Kyle Mandap, DMP

Debunking IT outsourcing misconceptions is vital in knowing its true potential and benefits. Read to know more!

Read More »
Start your outsourcing journey with DBA

Let’s chat over coffee.

Book in 2 Minutes.

© 2023 DBA. All Rights Reserved.