Outsourcing is widely used among law firms to help maximize their profitability potential. It can increase efficiencies and reduce spending on non-revenue-generating positions at your firm.
Outsourcing is a smart approach for law firms in the default servicing industry; however, there are still some misconceptions surrounding it. Below are three common myths of outsourcing we’ve heard throughout the years, along with education for outsourcing effectively.
MYTH ONE – Outsourcing means Offshoring
Offshoring is outsourcing, but outsourcing is not offshoring. While both help your firm gain efficiencies and decrease expenses, the term “offshoring” indicates a specific job is completed outside of the country, and its utilization is strictly regulated in our industry.
When you outsource your practice management functions to Firm Solutions, all services are performed by our highly trained staff in Tampa, Florida. Our employees and vendors undergo the same screening and training as your direct team members.
MYTH TWO – Your clients won’t allow outsourcing
It’s a common misconception among law firms in the default industry that outsourcing is not permitted. If your firm uses a qualified vendor, there are generally no restrictions to outsourcing. In most cases, your clients will look at it as a smart way for you to manage fluctuating work volume.
MYTH THREE – Outsourcing is an additional expense I can’t afford
There are several reasons that outsourcing makes sense from a financial perspective. Using a third-party vendor typically reduces expenses, especially if you are in a high-cost labor market. And in the event that using a vendor is cost-neutral, there are other benefits that come from outsourcing.
With outsourcing, you can pay only for what you use. At Firm Solutions, we use a per-piece model where appropriate. By outsourcing non-revenue generating tasks, you can utilize your internal staff to generate revenue rather than spending time on tasks that aren’t within your firm’s core competency.
If you choose to outsource, remember to utilize a vendor that specializes in your industry’s requirements. At Firm Solutions we specialize in legal process and business process outsourcing that provides you with the resources you need, when you need them. Contact us today to learn more.