Research and Markets has announced the addition of Top Legal Process Outsourcing Vendors, Black Book Survey 2007 Results to their offering.
Legal Process Outsourcing is projected to be the second fastest growing segment of the global BPO industry, estimated to increase dramatically from about $80 million in 2006 to approximately $4 billion by 2010. Employment in LPOs is also projected to grow to 32,000 next year, 40,000 by 2010, and 82,000 by 2015.
2007 Full Service LPO Rankings and Results Includes:
Part One: Core Legal Services Outsourcing
- Legal Research
- Discovery & Litigation Support
- Legal Analytics & Due Diligence
- Contract & Document Review
Part Two: Legal Support Services Outsourcing
- Paralegal Support
- Transcription & Document Management Services
At present the number of jobs in legal outsourcing in India stood less than 12,000, with a new hire explosion of over 20,000 new positions within twelve months. Outsourcing would reduce costs for US customers as the rates for Indian legal workers were about 18.0 – 26.5% per cent of their average American and UK counterparts.
The cost advantage is not without challenges, but none are insurmountable, particularly with 200,000 Indians graduating from law schools each year, five times more than in the US.
Several top LPOs have already been formed and have established reference client bases, huge savings and the ability for many law firms and corporate law divisions to transform their activities to focusing on core functions, as well as expanding into new revenue producing and top line initiatives.
Brown-Wilson Group and their research division, The Outsourcing Management Institute strongly advises investment in Legal Process Outsourcing firms who have developed internally strong management practices and high levels of customer satisfaction, manifested by high client scores and outcomes through 2008.
Over 160 Legal Process Outsourcing suppliers globally were included in the Black Book client survey process from 8 countries.
THE TOP SURVEY-QUALIFIED LPO VENDORS, 2007 (in Alphabetical Order): AtlasLegal, Bodhi Global, Centric LPO/Hinduja TMT, Clairvolex, Cobra Legal Solutions, Fusion, iDiligence, Integreon, Intrust Global, Inventurus, Ius Juris, Law Wave, Law-Scribe, Lexecute, Lexidigm, LexSphere, Mindcrest, NeoWorth LPO, Pangea3 and QuisLex.
The Black Book of Outsourcing research service titled TOP LEGAL PROCESS OUTSOURCING VENDORS 2007 provides an in-depth competitive analysis of the highest 20 ranked legal services suppliers globally, including India. The study examines the customer responses and satisfaction scores on eighteen specific criteria within the LPO market space and details each positioned vendor in several major functional areas. An analysis of key competitors provides the reader with in-depth market information.
Key Benefits:
Determine how your current LPO vendor is performing in other vendor engagements, and inspect the performance of legal process outsourcing suppliers pre-RFP, as benchmarking outcomes, setting SLAs, and/or pre-contract renegotiation.
Content Outline:
1. Executive Summary
1- Top 20 LPO Vendors, Final Rankings
2. Survey Results: SENIOR MANAGEMENT SCORING (“BEST MANAGED LPOs”)
3. Survey Results: Summary of Raw Scores and Means, Top Twenty LPO Vendors
2 – In-depth Analysis of Vendors by Criteria
1 - Vendor Overall Preference /Vertical Industry Recommendations
2 - Innovation
3 - Training
4 - Client Relationships
5 - Trust
6 - Breadth of Offerings, Client Types, Delivery Excellence
7 - Deployment and Outsourcing Implementation
8 - Customizations
9 - Integration & Interfaces
10 - Scalability, Client Adaptability, Flexible Pricing
11 - Compensation and Employee Performance
12 – Reliability
13 - Brand Image and Marketing Communications
14 – Marginal Value Adds
15 – Reliability
16 - Data Security and Backup Services
17- Support and Customer Care
18 - Best of Breed Technology and Process Improvement
