Many organizations are taking advantage of outsourcing and insourcing by using it as their growth strategy. Most organizations search for creative solutions for legal tasks, while others are discovering the benefits of an integrated solution to upgrade their internal and external resources.
Is Outsourcing or Insourcing Right for You?
Large organizations easily took a step to adopt outsourcing or insourcing according to their strategies. However, many small businesses are still very hesitant and not clear about what tasks or processes they can remove from their to-do list.
Let’s explore the concept and see what suits the best for your organization.
Value of Outsourcing
Outsourcing is a business practice in which the services are given to a third party to perform. This should be done because the cost reduction opportunity is higher. You can easily scale your headcount up and down.
The management of legal risks is the foremost concern amongst the in-house counsel. There are various situations in which an ASLP makes sense. If your firm is under a strict deadline and lacks the time and need the expertise to complete the task, then outsourcing could prove helpful.
Outsourcing allows a company to focus more on their core business. It is proven helpful when you’re under a strict deadline and lack the time or expertise to complete the task. Outsourcing allows companies to dip into a global talent pool. It is designed to fill the gaps for high-volume
work and provides immediate expertise without long-term commitments.
How About Insourcing?
On the other hand, some people find insourcing a better solution. It is a practice of hiring employees for specific services within the office. The main difference between the two of them is that insourcing has a lower cost-saving opportunity as resources are hosted in your office only.
An in-house team allows companies to have superior quality control and oversight of their work. Businesses with limited budgets and resources may not be able to pay out the cost for insourcing. Building a team from scratch is often time-consuming and very expensive.
Before Deciding to Outsource Consider the Following Steps
Clear Objectives- What are you looking to achieve by hiring a third party vendor? Based on your goals, determine your best option. Evaluate the activities that are taking place in your business.
Amount & Budget- Cost shouldn’t be your main driver. You should focus on improving processes by adding ASLP, so you can focus on your core business. Set your goal around how much overhead cost you’re looking to reduce and how much investment you want to make in outsourcing.
Research & Analysis- Do your market research. Research which company and country are right for your business. Social media is a good review source to keep a check on what others have to say about outsourcing firms or companies.
Choose an Expert- Search for vendors who are experts in the area you want to outsource. For example, if you want to outsource your legal services then look for outsourcing firms that specifically focus on legal services.
Flexibility of Services- If you outsource your work from India, they can work while you sleep because of the quick turn-around time (TAT).
If you’re looking for the best experts to outsource legal services, connect with us at www.aerenlpo.com