Two recent surveys and two recent LPO announcements illustrate that t he legal process outsourcing (LPO) market remains hot. Continued LPO growth has implications for CIOs and IT Directors.
IT is no stranger to outsourcing. ILTA surveys show that many firms, large and small, outsource aspects of IT. Soon, the rest of the firm may get on the bandwagon. Back office functions such as word processing and finance and accounting can be outsourced. And so can some legal work, particularly document review in litigation. As firms evaluate options, CIOs and IT Directors will, at minimum, likely play a role in vetting and supporting the technology used to support outsourcing initiatives. Forward-thinking CIOs may well play a bigger role in re-engineering firm business processes to attain the maximum benefit of outsourcing. Now, the recent news….
The Brown-Wilson 2007 survey (see the Black Book of Outsourcing) was released recently. Top rated legal process outsourcing (LPO) vendors include Integreon, Pangea3, Merrill Corporation, QuisLex, Law-Scribe, and Mindcrest. See an Integreon press release for the lists.
Market researcher ValueNotes released its July 2007 Offshoring Legal Services to India – An Update. “Based on our exhaustive 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. We have also identified ‘Emerging players’ that have 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.” The Indian LPO market has 100+ vendors that employ 7,500 people.
Pangea3, a leading LPO, announced (press release, 7/10/07) ” it has closed $7 million in Series C funding, funded by Sequoia Capital India.” The company will open in September a new 250-seat facility that will “contain segregated and dedicated document review facilities”
Pangea3 is not the only LPO expanding. An April 20th article in Pune Newsline, Boost in legal process outsourcing reports that Mindcrest opened a new 400-seat facility.