September 17, 2014
A new study conducted by business process outsourcing provider, Swiss Post Solutions (SPS), revealed the latest outsourcing activities and related trends within the legal industry. The report, SPS Outsourcing Index: Law Firm Trends, includes all types of US law firms and found discrete patterns based on firm size.
According to the research, 89 percent of the largest firms and nearly six out of ten of the midsize firms are outsourcing office support services today. The services most commonly outsourced are mailroom, messenger, centralized document production, and conference room management. Not surprisingly, these firms report they are realizing the benefits they sought to gain, and nearly one-third plan to outsource additional functions within the next two years.
The survey findings punctuate the fact that firms are seeking innovative ways to drive productivity and reduce costs. As the marketplace for legal services becomes more competitive, and as clients become more demanding, law firms have been forced to make adjustments to their strategy in order to compete.
Outsourcing is one strategy proving its effectiveness. The study validated that firms are benefiting from improved service levels (90 percent), access to industry best practices (89 percent), cost savings (85 percent), and access to skilled talent (77 percent) by outsourcing office support functions. In fact, a majority of these firms credit their outsourcing provider for delivering on the aforementioned strategic business objectives.
A second strategy is the migration to digital transformation. According to the study, 54 percent of firms, regardless of outsourcing status, anticipate implementing digital strategies and automation solutions in the near future. With heightened competition on a global scale, many firms are exploring new ways to maintain service excellence, with the use of technology being instrumental.
“With many significant benefits of outsourcing and digital transformation, growth in these areas within the legal industry is to be expected; and likewise, we have seen similar results within our own client base,” said Dan Moscatiello, Chief Executive Officer of SPS North America.
The research also revealed that over 75 percent of law firms agree that expertise in the legal industry is the top selection factor when choosing an outsourcing provider. Ranking second as a selection factor is the outsourcing provider’s reputation.
“There are tremendous opportunities for law firms to gain access to process innovations and cost savings by engaging an outsourcing partner that has industry expertise and proven results. As a leader in business process outsourcing, SPS has implemented outsourcing solutions for law firms nationwide and has seen first-hand the productivity gains of our clients,” said Art Tatge, Chief Operating Officer of SPS North America.
Swiss Post Solutions (SPS) is a leading outsourcing provider of solutions for paper-based business processes and innovative services in document management. SPS' 6,800 employees support business clients in the areas of legal services, insurance, banking, telecommunications, media, retail, energy supply and travel & transportation. Part of the Swiss Post group, SPS is headquartered in Zurich and Berne (Switzerland) with an active presence in many international economic regions.
Swiss Post Solutions North America (NA) offers a suite of business process outsourcing solutions and document management services including the transformation of key business applications from paper to digital documents enabling improved workflow and driving enhanced efficiencies. In the field of outsourced office services, SPS NA provides mailroom management, managed print services, records management, reprographic services, front office support and IT helpdesk support. Headquartered in New York City, SPS NA has offices in Los Angeles, San Francisco, Chicago, Washington DC and Toronto, and operates secure document processing centers in Long Island City and Toronto.