We are ending another positive year and looking back on how the industry is shaping up and what to expect in the year 2013. The LPO industry from its initial stages has transformed due various reasons. The companies that have adapted to the changing scenario based on the industry needs have sustained and are building capabilities to cater to the needs of the customer.
From the year 2002, there were several start ups, most likely a BPO , ITES or Indian law firm partnering with technology companies to provide LPO services. The biggest challenge at the start was to identify and package legal support solutions and develop quality resources in those specific areas. The collaborative participation of clients with the LPO service providers in deciding the scope and type of services that could be outsourced and providing training for those services helped in developing quality resources. The number of indian lawyers that have to joined the LPO industry has gradually increased in number and with companies setting up in-house training programs and project specific training the quality of resources have tremendously increased.
Today, many law firms and corporations have soon realized superior value and service by incorporating lower cost document review into their services. This has just been an example of how the LPO model can be used effectively to create value to the client. The LPO model could be used in similar lines in the area of Contract Life cycle management, Due diligence and other Litigation support activities.
In 2013 , Top LPO companies would aim at taking up other process driven areas of legal support to establish the great value that LPO firms would be able to deliver to Corporations and Law firms.
