LPO trends for 2012
2011 has been the most challenging year for the LPO service providers.
“Survival of the fittest” stands true for the LPO providers facing rough weather. But, the deserving ones continue to grow and adapt to such a challenging environment.
The primary and the most subtle reason for legal outsourcing is that some types of work can be performed by the LPO providers in an excellent manner and at a cheaper rate. Going forward, LPO vendors must clinch to new technology and expand into newer horizons and practice areas besides litigation. Adopting this strategy will help the LPO providers to create a niche for themselves and easily sell their services to the clients.
Besides, LPO will continue to keep its charm in the US and UK legal industries in the coming year, 2012. The greatest utility of a LPO can be expected by the outsourcing law firms and corporate legal departments by adopting innovative techniques which are based on the process, reporting and rigorous project management.
Despite experiencing tough times, law firms and corporate legal departments continue to take refuge in LPO as this approach is process driven and has a strong focus on value.