The people have voted for Brexit and many changes are on the way towards Britain and Europe. While the future and how the vote will truly impact on various industries remains uncertain, some are seeing this as opportunities to develop their business and create new markets. One of the industries that are seeing progress post-Brexit is outsourcing, particularly legal process outsourcing (LPO).
In the few weeks after Britain decides to leave the European Union, the first LPO company in the Republic of Ireland began operations in Dublin. Johnson Hana International (JHI) reveals plans to grow its workforce in Dublin by a large percentage, looking to hire more than 200 employees. The choice of Dublin as a base of operations is to provide cheaper solutions for law firms, legal departments, and businesses in the region. Traditionally, such tasks were mostly given towards businesses in Northern Ireland.
A gateway to Europe
Many other UK LPO providers opened shop in Dublin around the same time as JHI. Law firms such as Pinsent Masons and Eversheds Consulting have branched out into Dublin in the wake of referendum results in the EU. Northern Ireland has always been a low-cost base for legal services and outsourcing is a solution for many UK law firms. However, as Brexit is now in effect, Dublin is a more preferred site due to the EU referendum. Dublin is now considered a gateway into Europe.
Providing valuable outsourcing services
These ventures by law firms and LPO providers follow the mission of making Dublin a legal outsourcing and data review hub of Europe. JHI, for example, carries out outsourcing for litigation, compliance, and contract law. Companies such as ESB and Siemens UK have looked towards JHI for these tasks that also include due diligence for mergers and acquisitions.
In the past, many law firms and LPO reap the benefit of lower cost in Northern Ireland. But these companies today are seeking to increase their size and venture into Dublin as part of the strategy to cope with recent political and economical developments.
Image credit: University of Leeds