| January 7th, 2008 | 1 Comment | |
| Written by Ernest Paul | ||
| Technorati Tags: Indian Legal Services | ||
In the last two years Indian legal services outsourcing has changed outstandingly. Newer services are added by the day. New vendors constantly appear while the existing vendors have spread their wings further.
With the legal services offshoring industry in India now valued at US$146 million and, growing at the tremendous pace of 50%, it is expected to reach $640 million by the end of 2010. At latest count there were over 7,500 employees in the legal offshoring business. Whereas other segments in the KPO space are estimated to be growing at 30% to 35% per annum, legal services have been projected as growing at over 40% per annum.
Companies of all sizes are entering the legal process outsourcing (LPO) space, and the earlier entrants are using every trick in the book to maintain their positions there.
Now that an LPO Trade Association has been formed in India it is expected to strengthen the industry. Events and conferences are being jointly organized in the US where dealers can display their skills as well as present India as the best LPO destination. Besides this, funding from VC/PE (Venture Capital & Private Equity) firms has made its appearance.
Now well experienced lawyers and their firms are diversifying their various services while having to cope with matters such as the decline of the dollar and the upping of salaries. This pursuit of clients and potential is bound to set off a number of measures by go-getting vendors.
The now more than 100 service providers are usually categorized as Third party - niche service providers. (These are stand-alone LPOs who focus only on legal outsourcing services), Third party - Multiservice providers who offer their excellent offshore legal services as one element in their larger offering of BPO or KPO services, and the Captive centers (in-house legal departments ) of companies.
The latest developments suggest a growing industry for which there is noteworthy opportunity.






























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1 » offshoring Cost Cutting - Cost Savings B2B NEWS: Informed quickly, money saved // Jan 7, 2008 at 10:41 pm
[…] Offshoring Legal Services to India- The Present Status By Ernest Paul In the last two years Indian legal services outsourcing has changed outstandingly. Newer services are added by the day. New vendors constantly appear while the existing vendors have spread their wings further. … E Legal Secure - http://www.elegalsecure.com […]
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