The Changing Outlook for Legal Document Review
The legal industry is dynamically shifting its pace and nature through technological advancements. We hear many buzzwords involving eDiscovery, document review, data indexing, and objective coding.
Insights within the industry advocate the current shift towards leveraging legal tech solutions as they claim, “The global legal market is well ahead in its adoption and reliance on legal technology to deliver justice properly and efficiently. As modern data sets continue to increase in scope and complexity, the Australian legal industry is most likely to follow suit.”
While the legal industry is adopting these new tech changes, what’s fascinating is that law firms are leaning towards outsourcing most of their document review work to legal process outsourcing providers.
In short, it’s safe to say, ‘Along with technology, outsourcing is in as well!’.
Why is the legal industry considering outsourcing document review?
It can be easily summed up to the project management triangle that is better achieved by organisations outsourcing their work to specialist companies.
The project management triangle is made up of three variables that determine the quality of the project: scope, cost, and time. With outsourcing, law firms are able to get desired output of quality review within the established scope, cost, and time.
How do outsourcing review projects benefit the legal industry?
The legal industry is benefiting from outsourcing partners in numerous ways. Let’s look at a few advantages companies gain from outsourcing their document review jobs.
1. Cost efficient
Budget remains one of the prime reasons for law firms to consider outsourcing as opposed to having the services in-house.
Hiring permanent resources adds overheads, such as permanent staff salary, infrastructure, and office space, which raises expenses and cuts profit margins. Outsourcing review projects are more profitable as it helps alleviate savings by cutting the cost to the company. Therefore, outsourcing is a beneficial solution that allows law firms to utilise their budget on an as-needed basis.
2. Optimum resource utilisation
Document review takes significant time off the internal team’s clock that they could otherwise invest in their core legal work. With outsourcing document review projects, a vast amount gets delegated to legal technology experts allowing internal resources to focus on their core business, which results in better client satisfaction.
Additionally, many firms have limited resources and infrastructure to perform the review process internally. Outsourcing helps them utilise expert services, thereby freeing up time for their internal team.
A deep dive into the industry’s response to outsourcing suggests that firms outsource projects due to the size of modern data sets. As expressed by an industry expert, "Data sets are getting increasingly larger and more complex. Legal teams are not expanding at the same rate. A dedicated, professional, and reliable service is needed for legal teams to keep up with the demands placed on them.”
3. Quicker turnaround time
It's quite likely for legal teams to feel overwhelmed with bulk document reviews. Moreover, the quality of high-volume reviews is likely to be compromised due to the in-house teams’ lack of time and resources.
Outsourcing companies have a team of experienced workforce who are skilled in extracting high-quality information from a high volume of documents. Outsourcing review projects thus enables clients to get rich-quality outputs within tight deadlines.
4. Expertise by outsourcing partner
All law firms, big, medium, or small, try their best to stay ahead of the curve when offering industry-best services. Outsourcing companies provide legal expertise in budget pricing, allowing law firms to hire expert services on the go.
Legal service outsourcing companies are not only well-versed with legal technicalities and requirements but are also well-equipped with the latest tech solutions. From eDiscovery to manual data extraction, clients are able to choose from a range of tools and processes based on their requirements. Besides, the ability to leverage a flexible solution and compatibility with various review platforms makes it an easier and more efficient option for law firms.
Increase Productivity with a Trusted Industry Partner
Legal process outsourcing allows law firms to keep up with the latest technology and upcoming trends and provides your business with an added advantage in the legal field.
Law Image has been a partner of choice to the legal industry, helping clients through its efficient and scalable workflow solutions, including document review, eDiscovery, and various document production services.
As an outsourcing partner to numerous law firms and government departments, Law Image aims to provide comprehensive services with prime quality output.
What do clients say about Law Image?
“Law Image were able to assist our client with a tough project containing an especially challenging dataset. They asked important questions about what the client wanted and assisted in guiding our client on end-product results. They completed their work in a very time efficient matter whilst providing constant updates.”
About Law Image
Law Image is a leading document management company with offices in Melbourne, Sydney, Brisbane, and Perth. Law Image operates on a true on-shore model and is ISO 27001:2013 certified for information security with an industry-leading data security model to protect the integrity of our client's information.
Contact Law Image at 1300 529 462 or click here to learn more about how we can help you with your document review projects.