A Cost Effective Solution - Translation Services

Legal documentation generally is voluminous and extensive with documents running into thousands. If these documents were to be in different languages it would be extremely difficult for attorneys to sieve through these documents, get it translated manually or engage an in-house translator. The whole process often leads to a search for a bulk translation facility that would scan and translate numerous documents in a small time.

Engaging in-house translators or outsourcing the job to individuals is not an entirely feasible idea because your documents are valuable and have a deadline for translation. Document translation services enable you to get volumes of documents translated quickly. This type of document translation services are resourceful to any type of company that conducts business overseas, or is interested in attracting an international market.

When your business includes sensitive information like legal matters requiring a lot of attention to both details and security, you definitely require a service that can cater to these. Professional translation services can handle such documents effectively in whatever volumes are to be translated. Document translation companies can save you time and money, and ensure that your core messages are translated appropriately for your prospective audience.

It is a known fact that many American law firms have started opting professional translation services that are both efficient and cost-effective. Office work can be managed effectively without any hindrances. In offices where there is a heavy document inflow that requires high volume of scanning and translation, translation services come handy to search instantly through content. Translation services have tools that allow work-flow to increase manifold since employees no longer have to waste time on manual labor and can work more productively.

Optical Character Recognition (OCR) is the electronic translation of scanned images of handwritten, typewritten or printed text to machine encoded text. OCR is highly popular in converting books and documents into electronic files, to maintain record-keeping system in an office in computerized manner or to publish a text on websites.

Translation and OCR services are extremely useful for attorneys and other legal services in saving time and money. A big chunk of information can be ready for review in a few days rather than weeks. Millions of pages of information can be ready for review in just few days compared to months before enabling legal experts to meet court deadlines and prepare case strategy. A lot of money can be saved with this method as also making attorneys easily pinpoint critical issues and locate documents just when they need them.

The Future of Business Process Outsourcing

With the world moving in a high paced technological advancement and with an open market in the world market scenario, it is but expected that the way business is being done is going through remarkable transformation. Globally services are being outsourced to companies specializing in particular areas. Outsourcing happens when certain areas of running a business establishment hinder the effective functioning of its core competencies. Hence Business Process Outsourcing or the simple BPO has grabbed a major share in the IT and IT related services.

The earlier form of BPO consisted of outsourcing only some areas of work like Payroll, Retail, Insurance, Mortgage, Banking and Finance, Healthcare, Telecommunications, Technology, Travel and Hospitality and Supply Chain in manufacturing industries. Not limited to these anymore, BPO caters to many areas of business and is expected to dominate almost all areas in business sector. Both the types of outsourcing, the back office functions like human resources payroll etc. and the front office services like customer and contact related services have a wide scope in future.

The world business market now looks at the Asian countries for its present and future BPO activities. Service being cheaper and delivery being quicker, this market is being praised by the developed countries as the modern Mecca for outsourcing business needs. Creating offshore centers provides a flexible and cost-effective structure for business establishments. The large influx of BPO into Asian countries promises a very stable future for both the parties involved.

Similar to BPO, Knowledge Process outsourcing (KPO), has evolved in the recent past and has a promising future. While BPO emphasizes on process expertise, KPO stresses business expertise. KPO requires advanced exceptional technical skills coupled with judgment to execute highly complex and customized processes.

There is a high potential for future of KPOs worldwide. The scope of KPOs is not limited to Information technology (IT) and Information Technology Enabled Services (ITES) but scale the other areas like Legal Processes, Intellectual Property and Patent Related Services etc. While an outsourcing company concentrates on its core specialization and competency activities, it can outsource other activities and gain a lot of momentum in the core areas. A cost minimization this way and a total optimization in the business can happen when this is put in practice.

The Future of Indian BPO

India has been a favorite market for BPO, with Australia being the biggest market in the Asia-Pacific region. In the Asia-Pacific region, Australia has major share in the revenue generated by BPOs. However India has been the fastest growing BPO provider in the last decade. According to Gartner estimates, India is expected to reach $1.4 billion at the end of 2011 which is 23.2% more than 2010. By 2020 India is expected to touch $285 billion, according to KPMG reports. China has an enviable position when it comes to call centers and has reported a revenue of $28 million in 2010. Philippines has a bright future in BPO with an approximated revenue of $12 billion in 2010.

While world over outsourcing has caused an open market, Africa too has ventured into grabbing its share in BPO meat with Kenya launching its first call center. Mauritius is also vying at all possibilities in this area.

The Indian BPO market has an extremely promising and encouraging picture in the future. The scope of business opportunities predict endless areas for businesses to explore and thereby creating millions of jobs for the large amount of talent pool available in India. A promise of highly qualified and skilled professionals making career in BPOs is also a possibility being seen for future in India.

Litigation Coding

Support provided in any form to attorneys is known as litigation support. Litigation support entails providing of support to attorneys in the form of consultation and other subsistence for current or pending cases. The type of services offered typically depends on the range of services expected by the attorneys. These services can vary from research and documentation of facts or precedents before the case comes for trial or assisting in assessing the damages in a case already tried.

In the world of litigation, it does not end if a case is won or lost. There is a great deal of documentation that needs to be done either way. In the event of a loss, there is a need to find out if there are any factors the attorney may use to log an appeal or of the case is won then the support has to assess the amount of damages that are to be awarded etc.

In both the cases there is a need for document utilization service which is a part of litigation coding. Litigation coding can be considered a branch of Business Process Outsourcing as legal businesses outsource legal coding to offshore companies to ease their burden as well as cost. Litigation coding is a specialized service that enables attorneys to capture large chunks of data in a coded format. It is the process of creating a summary or keyword data from the available documents. Legal professionals find this especially useful to retrieve volumes of data coded as index or data base. Documents or records in a date base are indexed or coded to facilitate a quick retrieval.

There are two types of Litigation coding- Objective and Subjective. In subjective coding the coder seeks key information from the document, analyses it and makes a short summary of the document. This subjective information assists the user when there is too much of information in the document. In objective coding legally trained experts review every document and prepare a computerized index of basic objective data.

Legal documentation certainly is not cheap at all. Legal companies largely depend on offshore litigation coding. The offshore litigation coding companies provide a proper transfer of data by forming a database and then coding and indexing these records to the customer’s satisfaction. The offshore litigation coding companies offer accurate, quality and immediate response to the need of clients.

Litigation companies can avoid a lot of expenditure as well as stress that is caused due to this process. By outsourcing the coding work, legal companies can maximize their output by concentrating on their core activities and establishing success. Outsourcing of litigation coding cuts down a company’s expenses dramatically which fund can be sued for further augmentation of business.

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Knowledge Process Outsourcing

Knowledge Process Outsourcing (KPO), frequently compared to Business Process Outsourcing (BPO) is the next step in the outsourcing value chain. It is not an offshoot of BPO as people like to think but an independent industry. KPO is a form of outsourcing, in which knowledge-related and information-related work is carried out by workers in a different company or by a subsidiary of the same organization, which may be in the same country or in an offshore location to save cost. While BPO stresses on process expertise, KPO emphasizes business expertise. KPO requires advanced analytical and technical skills coupled with judgment to execute highly complex and customized processes.

Knowledge process can further be high added value processes chain where the achievement of objectives is highly dependent on the skills, domain knowledge and experience of the people carrying out the activity. And when this activity gets outsourced a new business activity emerges, which is generally known as Knowledge Process Outsourcing.

KPO involves a specialized domain knowledge of a higher level. It is a combination of BPO, Research Process Outsourcing (RPO) and Analysis Proves Outsourcing (APO). KPO Industry handles more amount of high skilled work other than the BPO Industry. While KPO derives its strength from the depth of knowledge, experience and judgment factor, BPO (Business Process Outsourcing) in contrast is more about size, volume and efficiency.

The main driver for outsourcing is cost reduction coupled with the value adds of these services. Labor cost savings overseas are just too great to be ignored. In knowledge-intensive industries such as Analytics and Data Mining Services, Research and Development, and Intellectual Property Research, companies can save significantly 40 to 50% by off shoring work to low-wage countries. On the value front, KPOs typically offer competitive advantage to its clients by providing market and industry research, data and statistical analysis, competitive analysis, and support in legal and administration processes.

Having one or more offshore centers, provides flexibility in terms of human resource and time management. Outsourcing allows companies to add or reduce personnel easily avoiding an expensive layoff process. By utilizing the time difference between different parts of the globe, development can take place constantly. The ability to send massive data amounts anywhere via the Internet allows a continual collaboration on a large scale.

There are some minor risks associated with KPOs which are well handled by KPO (Knowledge Process Outsourcing) organizations to ensure optimum benefits to the outsourcing companies. There is a tight wall of security in place during the data transfer and during the knowledge transfer. The confidentiality of the data is maintained by the KPOs that take due care to maintain high quality of work and personnel. A full fledged data back up is in place at the KPOs to make sure the outsourcing company can access whatever information they require at any time. Time lines are worked out in advance to accommodate the necessary smooth work flow.

There is a high potential for KPOs in the present day scenario. The scope of KPOs is not restricted to Information Technology (IT) and Information Technology Enabled Services (ITES). KPOs have a future in other areas like Legal Processes, Intellectual Property and Patent Related Services etc. While the company concentrates on its core specialization and competency activities, it can outsource other activities and gain a lot of momentum in the core areas. There is a cost minimization this way and a total optimization in the business.

Business Process Outsourcing

Business Process Outsourcing (BPO) is a division of Outsourcing which includes contracting of operations and responsibilities of a specific area of business functions, to a third party service provider. BPO has been there in the manufacturing industry for many years now. Manufacturing industries typically have big divisions such as suppy chain that require services to handle.

Business Process Outsourcing (BPO) has two types of outsourcing; Back office outsourcing involves functions like human resources, accounting and finance; Front office has services related to customer related and contact center.

BPO that is contracted outside a company’s country is called offshore outsourcing and BPO that is contracted to a company’s neighboring country is called nearshore outsourcing.

Since BPO is close to Information Technology industry, it is generally called as information technology enabled service or ITES. Two segments of BPO are Knowledge Process Outsourcing (KPO) and Legal Process Outsourcing (LPO).

BPO has advantages and disadvantages. One of the advantages is it increases the company’s flexibility. Resources can be freed and a variable cost structure can be imposed giving a company a freedom to make changes as per the requirements. BPO allows a company to focus on its core competencies without being burdened by the demands of bureaucratic restraints. Key employees are released from non core processes and given time to focus on their actual core areas. This creates a competitive edge in the company. BPO can contribute to the increase in speed of business processes. Speed in business processes is another area where the company would benefit due to BPO. Business bottle necks can be avoided by companies and retain their goals in the right perspective. BPO would allow a company to retain their speed and agility which would not have been possible without BPO. A company would be able to grow at a faster pace with the flexibility that a BPO would give.

With many advantages of flexibility in the company operations, management needs to take cautious steps before embarking on a BPO. Areas where problems arise in practice are service levels, unclear contractual issues, changing requirements, and unforeseen changes. These challenges are not conducive to a company’s growth. A dependence on a BPO would reduce flexibility on operations of a company.

Risk is the major drawback with Business Process Outsourcing. Outsourcing of an Information System, for example, can cause security risks both from a communication and from a privacy perspective. Employees no longer feel attached to many functions in the organization. Running costs may be underestimated leading to a major risk.

Risk factors must always be influenced to achieve maximum benefits. A business continuity model (BCM) should be in place to manage outsourcing in a structured way. Threats should be avoided by minimizing risks and maximizing positive outcome. A BCM is a series of steps to successfully identify, manage and control the business processes that can be outsourced.

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