Top 5 Reasons BigLaw Works with Alternative Legal Service Providers
Alternative legal service providers (ALSP) are an increasingly popular way for businesses to maximize their internal resources. While organizations in any industry can benefit from working with ALSP, BigLaw frequently chooses this option to support various types of work such as due diligence, eDiscovery, document review, legal research, contract management, and risk and compliance management. According to a 2019 Thomson Reuters study, more than half of large law firms reported using ALSP for at least five functions.
Some of the advantages BigLaw will garner from these types of projects and engagements include:
- Technology. ALSP are typically proficient with the latest technologies, giving law firm clients access to experienced users that can handle complex systems while providing greater efficiency with large scale projects.
- Reduce legal expenditures. Amid increased pressure from clients to control costs, alternative legal service providers offer BigLaw a way to do just that. By delivering specific, contracted-for services on a large scale, providers are able to deliver high-quality work at a fraction of the cost of handling work in-house.
- Resource stability. Outsourcing repetitive or time-consuming legal work helps BigLaw manage human resource needs, providing stability in budgeting and ensuring service continuity.
- Reliable output. In addition to technological benefits, law firms that leverage ALSP also gain access to specialized expertise without having to source, screen, and retain talent on the firm’s payroll. Firms can be confident in the timeliness and consistency of the provider’s deliverables and focus on strategic functions internally.
- Client satisfaction. Using alternative legal service providers also gives BigLaw a point of differentiation and the ability to provide an expanded range of services to corporate clients, who are increasingly interested in alternative engagement models with outside counsel. As BigLaw seeks to redefine the workplace for an evolving business landscape, reliance on alternative legal service providers is likely to continue to grow.
To learn more about Baer Reed and the legal services we provide for BigLaw firms, contact us today!
- On January 25, 2021
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