The legal industry is undergoing profound change. Is your firm prepared? Outsourcing some of your legal work is a compelling option for you to consider. Is outsourcing right for your firm? What are the benefits and what are the risks? How does your legal outsourcing engagement stack up against others? Are you undershooting the potential value of your engagement? These and other questions are addressed in Managing Partner's latest, must-read report on legal outsourcing; Implementing a Successful Legal Outsourcing Engagement. Whether you are currently outsourcing, considering outsourcing or your clients are inquiring about outsourcing, this report serves as a highly pragmatic and comprehensive reference guide for law firms and corporate counsels making decisions regarding a legal outsourcing engagement. Some of the profound changes dramatically altering the legal landscape include: legislative and regulatory shifts, firm consolidation, increased competition, and global expansion. Rising fees, cost-conscious clients and increased areas of risk exposure have forced legal professionals to adjust former business models to remain competitive. One of the most compelling strategies to meet these challenges is legal outsourcing - the transfer of legal functions to external providers both domestically (onshore providers) and to foreign locations (offshoring). What this report will cover: Part 1 of Implementing a Successful Legal Outsourcing Engagement examines every part of the outsourcing engagement, details best practices and examines the benefits, opportunities and challenges posed by outsourcing. Part I also provides an in-depth guide to selecting vendors, managing quality, risk management, ethical compliance, relationship governance, training staff and a host of other issues encountered in outsourcing. Moreover, Part I discusses: * The profound changes in the legal industry that set the stage for the emergence of outsourced legal services; * The recent economic events that are currently shaping the industry; * An analysis of the outsourcing service opportunities and operating models currently available; * The potential benefits of outsourcing and how to recognize and measure these benefits; * Ways to define, design and ensure quality for an outsourcing engagement; * How to select a vendor, navigate the negotiation process and manage the vendor relationship; * Risk management techniques and a guide to ethical compliance; * Contracting considerations and important terms and conditions; and * How to overcome specific outsourcing challenges and avoid common pitfalls. It will cover the benefits of outsourcing legal services such as: * Substantial cost reductions - from 10 per cent to 40 per cent compared to performing the service internally. Outsourcing typically saves corporate counsels at least 20 per cent of their total annual legal budget and, in some cases, a savings of up to 70 per cent from law-firm billing rates; * Better management of workflow variability in a declining or recovering economy; * Enhancing efficiencies without incurring excess capacity or firm overhead; * Managing risks by leveraging solutions previously too costly and uneconomical to pursue; * Leveraging outsourcing as a change agent to restructure inefficient internal processes; * Alternative time zones allowing around-the-clock service; * Access to a global pool of talent, including access to technical skills, emerging global markets and low-wage labour; and * Insight into a new and different ways of delivering legal services. It will also examine, weigh and provide proven strategies to overcome risks such as: * Security; * Confidentiality; * The ethical practice of law; * Professional liability; and * The quality of the legal services. Part 2 of the report offers case studies of law firms and organisations of a variety of sizes, locations and practice specialties and how they tackled an array of outsourcing challenges. While many firms and corporations are piloting outsourcing opportunities, the majority of engagements are not publicly recognised due to privacy concerns. These case studies provide an inside view to the legal outsourcing space and reveal what outsourcing strategies law firms and corporations are implementing, and how they have achieved success. Case study organisations highlighted in the report include: * Osborne Clarke * Pinsent Masons * ISS UK * MyHomeMove * Underwood & Associates Implementing a Successful Legal Outsourcing Engagement and featured case studies will help legal professionals gain a comprehensive understanding of the industry, recognise new opportunities, discover insight from prominent experts in the field, learn the right questions to ask and then build successful legal outsourcing solutions based on leading industry best practices.
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Recognise new opportunities, gain insight from leading experts in the field, learn the right questions to ask and build successful legal outsourcing solutions based on industry precedents.
Part 1: Implementing a Successful Legal Outsourcing Engagement Chapter 1: The legal process outsourcing trend Types of legal services outsourced The benefits and drivers of outsourcing Client needs and expectations Globalisation Technological advances Legislative developments Vendor maturation Maturity in LPO. Chapter 2: The economic implications of outsourcing Corporate change Challenging times for in-house counsel A summary of clients Other further corporate strategies to reduce legal spend Law firm performance and strategies for market leaders The economic downturn has set a precedent for change Trends experienced by outsourcing vendors The basis for outsourcing. Chapter 3: The underpinnings of legal outsourcing Principles of delegation The underpinning economics of outsourcing. Chapter 4: The benefits and challenges of outsourcing The benefits of outsourcing The benefits of offshoring Outsourcing challenges Challenges unique to outsourcing Challenges unique to offshoring. Chapter 5: Capitalising on outsourcing opportunities Outsourced service areas Outsourcing non-legal services Outsourcing operating models Sourcing geographies Leading and emerging legal offshore destinations. Chapter 6: The outsourcing exploration road map A vision for change Building a team Assessing internal core competencies Internal cost allocation Defining outsourcing objectives Service-level opportunity exploration Thumbnail service area outline Assessing the sourcability of a function Decision tools The 'Do Not Outsource' list The outside perspective in solution exploration. Chapter 7: Solution development Translating findings to solutions Recognising core drivers Engaging stakeholders Prioritising outsourcing objectives The 'Four Factor Sourcing' model Documenting and baselining internal process Vendor collaboration during solution development Solution components Building a winning business case for legal outsourcing The importance of a global business case Outsourcing as a strategy to manage support cost and variable demand Future flexibility for the shape of firms to come. Chapter 8: Managing legal outsourcing risk and ethical compliance New opportunities, new risks Identifying risk Other specific risk areas Organisational risk tolerance Baselining Developing a risk management strategy Factors that affect risk of an outsourcing engagement Successful risk management and weighing the benefits Reducing risk through contractual provisions Legal outsourcing: ethical compliance Issues specific to the UK. Chapter 9: Managing and ensuring quality throughout the outsourcing engagement Defining quality What does quality mean for clients? Quality dynamics The vendor approach to managing quality Assessing vendor-quality performance Balancing quality with cost Managing quality throughout the outsourcing engagement Quality pitfalls. Chapter 10: Vendor qualification and selection The importance of a strong vendor selection The six-step vendor-selection process Vendor pre-selection and self-selection Vendor baseline qualification Vendor performance assessment measures The proposal process On-site due diligence Making it happen Building a robust vendor-assessment process. Chapter 11: Vendor management and relationship governance Governance defined Common challenges Selecting and building your vendor management framework The importance of vendor governance Collaborative approach Addressing issues Aligning vendor management to outsourcing objectives Linking incentives to the success of the engagement. Chapter 12: Putting the pieces together for a successful outsourcing engagement Implementing and adjusting to change Building internal buy-in and aligning stakeholder interest Outsourcing and social responsibility The outlook for legal outsourcing. Part 2: Case Studies Case study 1: Pinsent Masons - Addressing common misconceptions of outsourcing The mounting cost of e-discovery The solution requirements Solution design and implementation Outsourcing challenges encountered The result for the firm Valuable lessons learnt. Case study 2: Osborne Clarke - Finding the right vendor Restructuring internal operations Achieving real cost savings Finding a vendor - the challenge Solution design and implementation The firm's outlook Valuable lessons learnt. Case study 3: MyHomeMove - Growing the business through outsourcing Vendor requirements Sifting through the pile The challenges encountered The firm's outlook Valuable lessons learnt. Case study 4: ISS UK - Reducing cost and risk for in-house counsel The drivers for the outsourcing initiative Vendor selection and solution Challenges encountered Results for the organisation Valuable lessons learnt. Case study 5: Underwoods Solicitors - Achieving firm differentiation in a competitive market Solution Measuring the sourcability of legal services Challenges encountered Results for the firm Valuable lessons learnt Index
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Produktdetaljer

ISBN
9781906355685
Publisert
2009-09-29
Utgiver
Vendor
Ark Group
Aldersnivå
P, 06
Språk
Product language
Engelsk
Format
Product format
Innbundet
Antall sider
194

Forfatter

Biographical note

Michael D. Bell is the founder and managing principal of Fronterion LLC, a management consulting firm exclusively focused on assisting law firms and corporations in all stages of the legal outsourcing life cycle. Bell's expertise covers the full spectrum of legal outsourcing advisory services including solution development, onsite vendor due diligence/selection, risk management/ethical compliance, solution implementation, and ongoing vendor relationship management. Fronterion was the first firm to take a highly-structured approach to the evaluation of the legal outsourcing vendor marketplace, and Bell has conducted more than 40 on-site assessments of offshore legal services vendors. Bell's work has been published in bar journals and referenced in research publications on the legal outsourcing industry. He is also the author of the 'LPO Source' blog (can be found at:http://www.lposource.com). For more information on Fronterion LLC, visit: http://www.fronterion.com/.