Wednesday, 19 October 2016

What do Legal Support Services do?

Law firms are facing intense competition from their rivals and are looking for innovative solutions to maintain their profitability. In the last few years, third party legal support services have become extremely popular. These services not only ease the burden of the attorneys working in law firms but also help them in concentrating on the core activities and enhancing profitability.

The legal process outsourcing companies help the legal firms in handling the external matters like regulatory compliance concerns, industrial disputes, corporate structuring etc., and enable them to concentrate on the strategic business issues. These organizations also study the working methodology of the law firms and find out measures which can help in cost cutting and optimization of revenue.


The various services offered by legal process outsourcing companies are:

Legal research services- These services include litigation and non-litigation research, statutory research, multi-jurisdictional surveys, case law research, foreign law research, regulatory law research, jury verdict and settlement research, second opinions etc.

Legal writing services- It involves preparing motions, appellate briefs, trial briefs, legal memoranda, complaints, pleadings, discovery requests, and responses, reviewing legal documents, preparing arbitration letters etc.

Contract management and review- These involve assisting with drafting standard contracts, creating and managing databases and repositories, contract reviewing as per standard position and map deviations, analyzing contracts for specific compliance or other requirements etc. 

E-discovery and document review- These services are meant for reviewing documents and identifying their usefulness for the case.  

Document coding- Identification of privileged documents which can be held up for production, deposition preparation and their maintenance in folders.

Litigation support services- It involves document management, document review, e-discovery, deposition summaries and analysis, case summaries, drafting motions, proofreading etc.

Paralegal services- E-discovery and document review, legal coding, title search, legal data entry, deposition summary, medical summary, legal billing, contract abstraction or extraction, settlement demand letters, legal editorial, and publishing etc.

Accounting services- Law firms accounting involves bookkeeping services, accounts payable, accounts receivable, bank account reconciliation, financial reporting, tax preparation, payroll processing etc.

RelatedWhy Legal Process Outsourcing An Emerging Need Of Law Firms?

The various benefits of hiring legal outsourcing services are:

Better management of time- By outsourcing the less significant tasks, a law firm can concentrate completely on the more important tasks and optimize their efficiency.  
  
Helpful in situations of overload- Well established law firms are mostly overloaded with work. In order to avoid mistakes being made due to haste, outsourcing is a good option.  
   
Helps in cost cutting- As the outsourcing firms are generally based in developing nations like India, the costs of hiring them are much less than hiring junior attorneys. Moreover, outsourcing firms have also gained a reputation for offering excellent services, so the quality will also not be compromised.

The above-mentioned information can make a law firm consider legal outsourcing services.   

RelatedLaw Firm Management Services Key to Boost Profitability

Cogneesol has emerged as a successful provider of law firm outsourcing services to law firms from all over the world. These services can help the law firms in maximizing their potential and sustaining their profitability. To get more information, contact us at info@cogneesol.com or call us at +16466882821.                         

Thursday, 13 October 2016

Why Law Firms Need Outsourcing Partner For Office Management?

Law firms around the world are facing a tough battle to compete in the extremely competitive environment while still maintaining their profitability. They are looking for innovative cost cutting solutions to optimize their business potential. Choosing the outsourcing option for law firm management services is one of the options which are becoming popular. 


In the last decade, the outsourcing firms have created a reputation for offering excellent services in this regard and enabling the law firms to concentrate on their core activities along with helping in reducing the operational expenses. They are known to have excess to excellent personnel and charge rates which are well within the paying capacity of the law firms. 

The various advantages of hiring third party law firm management services have been listed below: 

  • Access to a variety of services- The law firm management services include a variety of options like case handling through Casemap software, maintaining records of the case status, preparing mails and enclosures, performing the various filing tasks, drafting  interrogatories, drafting agreements and contracts etc. So by hiring outsourcing law firm management services, you can easily get the above mentioned tasks done. 
  • Access to the latest legal software- The outsourcing firms offering legal services use latest software like Jarvis, Clio, Leap, Elite Prolaw etc., for performing the operations of the clients. These tools can make legal functions extremely simple and prompt. A law firm might be reluctant to invest in these software but outsourcing firms have access to them as offering quality law firm management services is their bread and butter.   
  • Quick turnaround time- There is instances where law firms are facing pressure due to huge workload. In such cases outsourcing services can be of great advantage as they can not only lessen work load but can also offer quick turnaround in terms of submission due to difference in time zones. The work assigned by a law firm based in Canada in the evening can be completed and submitted by an Indian firm before the commencement of next day’s working hours in Canada due to the time difference. 
  • Excellent work methodology- The legal outsourcing firms follow a result oriented and proven approach. They are fully adept at performing the job as per client requirement while ensuring quality and adherence to deadlines.
  • Cost-effective services- As most of the outsourcing firms are based in developing nations, the costs charged by them are reasonable. Moreover outsourcing also helps in eliminating various costs like payroll and infrastructure.
  • Ensures Data Security- For legal firms data security is a key issue. The outsourcing firms ensure that the data of the clients is kept private and is not accessed by a third party.  
Cogneesol is rated among the top legal outsourcing companies offering solutions at cost effective rates. By utilizing these services a business enterprise can pay full attention to its core activities like production, marketing etc., and maximize its chances of succeeding in the cut throat business environment. Gain more information by contacting us at info@cogneesol.com or call us at +16466882821.

Friday, 7 October 2016

What are the Strategic Benefits of Incorporating Data Mining?

Data mining services refer to accumulating and processing business data. This is done with the purpose of acquiring business intelligence. The techniques used for data mining range from simple to complex. The basic purpose of the data mining techniques is to conduct a thorough analysis of the data and derive useful patterns which can help in business planning. Large organizations have to deal with huge amounts of business data. So they are opting for automation as an option for Data Mining Services. Some of the most popular Data mining techniques are cluster detection, anomaly detection, regression etc.   
Incorporating Data Mining

Cluster detection is generally used for handling large volumes of data. The objective of this data mining process is to recognize the patterns in data sets. This form of data mining can prove to be extremely helpful in detecting customer preferences. 

Anomaly detection is meant for detecting abnormal trends in the data. Factors like sudden rise in demand of products or sudden decline in sales are studied by using this data mining technique.   
Regression technique is used for forecasting future outcomes of a business like rise in prices, customer inclination etc. 

It is up to a business enterprise to decide the data mining techniques as per their requirement. 

The various benefits of incorporating data mining services have been listed below:

Helps in developing risk models- In industries like finance and banking, there are always chances of corrupt transactions taking place. Data mining can help in accessing the risks involved in loans and mortgages.

Helpful in the promotion process- Data mining helps in generating customer data which can be used for promotional purposes. For example, an e-commerce company can use data of already existing customers to send emails or SMS to them regarding the availability of similar type of products. The customer data can also be used for planning the marketing campaign. 

Helpful in avoiding taxation errors- Data mining helps in keeping track of wrong transactions. These records can help in preparation of correct tax returns and avoiding any penalty from tax governing bodies. 

Ensures safety- In the manufacturing firms, data can help in ensuring the right safety measures by learning from past mistakes. Proper precautionary measures can be taken, keeping in mind the old records. 

Cogneesol is one of the best outsourcing companies offering cost effective data entry services to global business ventures. These services are meant for ensuring reduction in day to day expenditure and maximizing the profits. To get more information, contact us at info@cogneesol.com or call us at +16466882821.