Legal process outsourcing India – recent trends
An increasing number of companies, large and small are outsourcing legal work to Indian destinations. Originally LPO enticed law firms and corporations outsourcing large document review projects for litigation disclosure or transactional due diligence to an offshore provider. This process allowed the law firms and the corporations to address the various legal issues that arise on daily basis while being able to streamline productivity. The process involves a contract, with due consideration between both LPOs in one hand, and law firms and corporations, on the other.
The basic reason behind LPOs’ success is based on Merger and Acquisition related support services dished out in the previous two to three years. India is currently the largest LPO destination, affordable, efficient and above all skilled. Outsourcing legal work to India costs up to 80% less than the cost to the international law firms and corporations. India possessed a large highly qualified labor pool. In Indian LPO process, the issue of client confidentiality assumes utmost importance. Legal process outsourcing is growing by leaps and bounds and is poised to become a major sector of offshored outsourcing in coming years.
From 2010 through 2014, Indian LPO industry’s growth has been phenomenal. It is estimated that Indian LPO s’ are expected to attain growth of USD 960 million by 2015. In India LPO industry is expected to employ 18000 professional including lawyers. Indian LPO is viewed by clients as indicative of being forward thinking, innovatively managed support providing institutions to law firms and corporations across the globe.