How to Start a Legal Process Outsourcing Business
Starting an LPO service of your own requires better understanding of the responsibilities legal entities entrust you with and how important their data is.
Legal process outsourcing (LPO)involves entrusting legal tasks to an external provider so that the processes outsourced are completed professionally and on time. Legal tasks that increaseon a day-to-day basis can prove quite challenging for corporate legal departments, law firms, attorneys, court reporters, paralegals and other professionals in the legal industry.Therefore LPOis now growing as a high-end industry, with its demand increasing on a day to day basis. By outsourcing legal documentation tasks to the LPO company, the client is not only transferring the business processes, but is also entrusting further responsibilities to your firm.
So how do you start a LPO company? Here are the steps to take:
List the LPO Services You Plan to Offer
Legal documentation such as transcription and research are important tasks for those in the legal profession and so requires a high level of confidentiality, accuracy obtained out of experience and timely execution of work. Clients choose you based on the types of services you offer. Most LPO companies provide services such as:
- Legal transcription– Preparing accurate transcripts of arbitrations, interrogations, legal letters, phone conversations, accident reports, deposition summaries, memorandums and wiretaps from legal recordings.
- Litigation support services — Handling litigation management such as organizing, analyzing, filing and preparing chronologies, drafting complaints and summons, drafting responsive pleadings and answers, maintaining client’s calendar and more.
- Legal research — Services include research and drafting of laws addressing issues presented by the client — pertaining to litigation and/or non-litigation areas.
- Contract review and management –This service ensures that prior to the signing of a contract such as non-disclosure agreements, employment agreement, or lease agreement contracts, all requirements are adequately defined, free from ambiguity, documented and can be realized.
Know Your Clients and How to Get Them
Possible clients who benefit from legal process outsourcing services include attorneys, paralegals, law firms, management consultants, solicitors, insurance firms. There are many options to find these clients and let them know about your professional services.
- More and more satisfied clients can build a large network of prospective clients who want to enlist your services.
- Search engine marketing strategies are a great way to target your clients online.
- Market your business through popular social networking sites such as Facebook, Twitter, Stumble Upon, Pinterest, Google Plus, and LinkedIn.
- You can even try becoming a franchisee of some existing LPOs and then get acquainted with it.
- Consider Email marketing, which is a straightforward promotion for your business message to a gathering of individuals utilizing email.
Get Familiar with Documents Related to an LPO Firm
A typical LPO relationship between clients and the vendor is established through diverse documents such as the following.
- The Request for Proposal — Issued by the client organization, this is a short brief or a high level description of the work that needs to be done.The vendor firm can respond to this proposal with the details and cost of the services they offer.
- The Statement of Work (SOW) — This document provides a detailed description of actual work and defines project-specific activities, deliverables and timelines for a vendor providing services to the client. This document should include:
1. The roles and responsibilities regardinghow the work can be done
2. Service level agreements that defines the quality of work that is being guaranteed to the client
- Response to SOW — The response provided to the Statement of Work provides the clients a clear idea of how and why your firm is executing the project and what the costs associated with it are.
- Contracts — If the client is satisfied with the response provided, both the parties can sit together to negotiate an actual LPO contract.
Choose a Qualified Team
- Only high quality work can guarantee the success of your LPO, and this depends entirely on the performance of your staff.
- Consider choosing a legal team that includes experienced legal transcriptionists, editors, proofreaders, QA control team with SIX SIGMA Qualifications, document management specialists, researchers to perform legal citation search and more.
- Make sure to include U.S. qualified lawyers in your team, so that potential clients are assured that the service provider is a diligent player in the industry and can deliver quality work.
Set Up a standard LPO process
Design the process in such a way that it eliminates any delay in completing the project.The process should be aligned to correct errors the moment they occur.For any LPO service in general, process steps include:
- Receiving Request for Proposal (RFP) by Client
- Both parties’ discussion on the project and turnaround time (TAT)
- Uploading client’s files using secure software
- The company’s selected team performing the service
- Quality checking by experts
- Delivery of files via secure source
- Obtaining feedback from client
It is clear that before choosing you, any client would study your quality assurance policies. They may request for a free trial to evaluate features such as quality and accuracy. Make sure that your employees are clear about the processes to be used and facilitate quality control. For each project, identify specific measures for quality control, including timelines. Make sure to allow flexibility while providing goals for deliverables.
If your work is perfect and of a high standard, the client need not spend too much time to review it personally.
Meet Data Security Concerns
Sophisticated data security policies are crucial to ensure that the client’s confidential data is not compromised.Security and confidentiality of client’s data must be taken care of by implementing effective data security measures such as secure file transfer, monthly backups of computer systems, confidentiality agreement for employees, and 24/7 security services to prevent theft.