| Action picking up in legal outsourcing space |
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| Financial Express 04/07/2007 |
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Indian revenues from legal services offshoring are slated to grow from $146 million in 2006 to $640 million by end 2010. The industry employed around 7,500 people in the legal offshoring space in India by the end of 2006 and is expected to reach 32,000 by 2010 end, says a report from ValueNotes.
The Indian vendor space has over 100 service providers that can be categorised into three groups — captive centres of corporates, third party niche service providers or stand-alone LPOs and third party multi-service providers. Third party vendors dominate the legal process outsourcing (LPO) space by employing the majority of the workforce in the sector. However, vendors with niche focus and multi service providers differ distinctly in terms of service offerings and capability.
ValueNotes is among the first to conduct research on the legal outsourcing space in 2005 with its report, ‘Offshoring Legal Services to India.’ Since then the outsourcing space has changed remarkably, with newer services being added to the offshoring list, new vendors are emerging and existing vendors are adding more capabilities, its latest report, ‘Offshoring Legal Services to India: An Update’ says.
Based on its primary research and analysis of this sector, ValueNotes has identified a list of frontrunners which includes Evalueserve, Integreon, OfficeTiger, CPA Global, Mindcrest, Pangea3 and Quislex. ValueNotes has also identified emerging players that have the potential to emerge as winners within their chosen niches. These include players like LawScribe, New Galexy, SDD Global Solutions, Tusker Group, Aptara, Lason and Quattro BPO.
According to Arun Jethmalani, CEO, ValueNotes, “While most vendors start by offering lower value services and gradually move up the value chain by demonstrating domain skills and gaining client confidence, there are others who focus on specific high-end services or niches.”
Neeraja Kandala, analyst and co-author of the report, says high volume services like document review, eDiscovery, legal publishing as well as niche areas in intellectual property and contract services will drive future growth in legal services offshoring.”
The study focuses on eight broad segments that the Indian companies are working on — legal transcription, document review, litigation support, legal research, intellectual property, contract related services, secretarial and legal publishing services. The report is based on secondary data and extensive interviews with key people at various legal services outsourcing companies in India. |
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