Legal Process Outsourcing firms needs to be maintained secure environment and confidentiality. So building all those security concerns and then the ability to scale up is a challenge. There also is a great need for a strong business development in the target markets and companies who have a global presence can benefit best. In LPO industry customer privacy is so rooted in the legal culture, and is a fundamental aspect of legal professional ethics. Maintaining proper relationships with current and future customers is the asset for service providers.
In LPO industry there are two security concerns, one is data security and another one is physical security. Due to this reason Legal Process outsourcing is different from other knowledge process outsourcing in a primary sense. Recruiting an offshore employee in to LPO industry is different from other business outsourcing services. Hence lawyers should be Qualified and registered to advice their clients. As we discussed earlier as the area requires not only expertise in the respected field but also require the major concern on client’s security and confidentiality which becomes the hot burning topic among the firms associated with LPO services.
But Cat Technology ensures in-depth security measures when dealing with sensitive information, and also conducts multiple checks at various levels in order to meet our client’s requirements. Have been providing secured services to our clients with regards to every aspect of data protection, we cater a wide range of industries in terms of LPO Services.
Our Legal Process Outsourcing covers the following services in general:
• Legal Research & Analysis
• Document Drafting
• Legal Document review
• Litigation support.
• contract review
• Intellectual Property research -substantive and administrative
• Administrative and office activities like following up with clients, etc.
Apart from the Legal Process outsourcing, we currently cater to banking and financial services, telecom and travel vertical.
Legal process outsourcing rolling fiscal Crisis:
While the global financial crisis is hitting several economies hard, one sector in the Asian legal market is reaping the benefits.Legal process outsourcing (LPO) is shining amid the market turmoil, as law firms seek to cut down on costs by outsourcing work to offices in China and India.
Sanjay Kamlani, Co-CEO of Pangea3, a provider of LPO services, says that the company is bracing itself for a flood of work due to the crisis. “We have seen a significant increase in inquiries in the last several months precipitated by the US recession, both from the standpoint of the cost pressures and related head count reductions associated with the recession as well as from the standpoint of increased legal work directly related to the sub-prime debacle that triggered the recession,” he said in an interview.
Over the last decade, the LPO market has surged exponentially with research firm ValueNotes estimating the growth at almost 70% pa – going from a US$200m industry in 2001 to US$3bn last year. The rise has also been driven by the quality of work. Most outsourced work is given to law students and the higher numbers of law graduates in China and India as against their European and American counterparts means that the quality of legal work is generally well received. It is also predicted that as the industry gains a higher reputation, more and more top quality graduates will move into the industry.
Kamlani says that rising costs will increasingly drive firms towards LPO services. “Over the next two to three years, we would expect every large in-house counsel department and a much larger number of law firms to view offshore outsourcing strategies as essential to their legal practice. In many respects, outsourced legal services from India’s LPO industry represent the best legal work for the best price, the best value for money.”
LPO share significantly Increasing in Global Market:
Indian legal process outsourcing (LPO) sector is currently experiencing a positive effect of U.S. financial crisis as bankruptcy filing incidents as that of the major investment firm Lehman Brothers make many corporate houses and investment banks to shift their credit crisis-related work to lawyers in India as it is a more viable and cost-effective option, reported the economic Times.
Indian business process outsourcing (BPO) companies are moving up the value chain with an increase in the share of high-end judgment-based work, says a study prepared by leading global information services firm Dun and Bradstreet (D&B).
The study is based on a survey covering 440,000 employees of 177 companies, or 63 percent of the Indian BPO sector's total employee base of around 700,000.
"In comparison to last year's study, conventional BPO services have lost their share by almost 10 percent whereas emerging service lines such as knowledge process outsourcing, legal process outsourcing, engineering process outsourcing and e-Learning have increased their share considerably," the study said.
