Once embraced by only a handful of the most innovative partners, outsourced – domestically and abroad – legal services have now emerged as an important strategic priority for senior leadership and managing partners.
How does this new priority impact your firm? Are you prepared? Can Fronterion help?
The Game Changing Impact
The increasing adoption of legal process outsourcing (LPO), compounded by the macro trends of globalization and advancing technology, has altered expectations of in-house legal departments about the source and procurement of certain legal services. Sourcing basic legal work from third-party specialists is indeed the new normal.
The impact of legal process outsourcing is seen most prevalently in areas of document review (often referred to as “managed review”), contract management, intellectual property and an ever-expanding scope of legal and legal support services.
These trends are real and have significant implications for your firm today and will be increasingly significant going forward.
Most major law firms have limited experience working with LPO vendors with their experience usually based on their clients’ specific requests. Now, however, changing client expectations, regulatory clarity and market validation have shifted legal outsourcing into the mainstream as a strategic priority.
Further impacting the growing significance of LPO for law firms is the client-facing nature of legal outsourcing. As a result, clients’ perception of outside counsel is increasingly influenced by their law firms’ ability collaborate with third-party LPO vendors.
The Impact to You
Fronterion understands both the challenges and exciting opportunities posed by these developments. It is our goal to provide focused expertise that enable leading law firms to thrive in the changing legal environment through their collaboration with LPO vendors.
How is your firm positioned for these changes? Do you have the tools to make smart decisions that address the new normal of client expectations?
Whether you are in the early stages of exploring your options or refining your current LPO strategies, Fronterion can help.