Why Conveyancing process should be outsourced?
It has been proved that offshore outsourcing is one of the best methods to reduce operational costs of any business. Thus Lawyers also have started using the benefits of outsourcing. Many law firms in USA and UK are outsourcing their legal and paralegal works to India.
Why is conveyancing the best legal process that can be outsourced?
UK Conveyancing market is facing a tough time since the recession in 2008 and it demands some major changes in the way which it operates. Increasing the head counts to manage workload may, in turn, become a burden for the company when there is a fluctuation in the workflow. Conveyancing firms have to spend huge amounts on personal indemnity insurance and need to retain experienced professionals for compliance as the headcount increases. In addition to these challenges, law firms are facing a threat of stringent criteria laid by lenders to get into or to continue in their panel of solicitors. The loss of major lenders’ panels has made conveyancing an expensive and uptight business to workout. In this scenario, outsourcing becomes the best viable option to reduce the overall costs of Conveyancing firms. Outsourcing Conveyancing works are the future business of large and mid-sized traditional law firms in the United Kingdom.
The features that makes Conveyancing an easily outsourceable legal process to India are:
- Compared to other legal processes like litigation which need more knowledge in local law, Conveyancing is simple. It is more or less an administration paperwork.
- It includes lengthy and routine backend jobs. These can easily be outsourced and the solicitors can concentrate more on the complex part of the process and client management.
- The introduction of electronic conveyancing made the process easy and convenient. It helps the lawyers in any part of the world to access the title documents through the internet and to work on it as a local conveyancer does.
- Availability of lawyers trained in English property law.
- Property law is comparatively easy to learn compared to the other branches of law like corporate law or administrative law.
- Contract Laws and Land Laws in UK and India are similar.
Outsourcing these works to a third party in an offshore destination helps Law firms to save operational costs up to 70% by eliminating investment in fixed infrastructure, professional indemnity and training. Availability of trained lawyers with good skills in English and the technology driven process ensures superior quality for the works outsourced to India. Outsourcing has been proved to be the best solution to survive in the extremely competitive UK Conveyancing market. Outsourcing will re-direct your Conveyancing business to the next level of evolution.