This is an article I had published in Outsource Magazine. The purpose was to give CFOs the data they need to understand the Business Case that they are sitting on…if they look at outsourcing parts of their own Finance Department.
For law firms, it is sometimes a bit hard for the CFO to really understand the practice of law, and they may not have had much experience of outsourcing generally. However, by looking at function that they know and trully understand, they can see how alternative delivery models work.
As with Law, when Finance leaders start to look at how other organisations operate and that, in fact, outsourcing is very common practice, the conversation and perception moves forward significantly. In particular, understanding the theory and losing the concerns allows a much more sophisticated analysis to take place.
In the last few Finance Outsourcing business cases I have run savings have exceeded 40%. So I would advice all Law Firm CFOs to take a look and see what the options are.
This gives CFOs a greater understanding and a higher moral authority when encouraging their Firm to fully analyse the value of Legal Outsourcing/LPO.
Contact me directly if you would like to discuss the opportunities further. Full article available here
By Edward Brooks
The LPO Program