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Top LPO Outsourcing Vendors, Black Book Survey 2008 Results
Orbys Black Book, July 2008, Pages: 36
Legal Process Outsourcing (LPO) is an industry in which in-house legal departments or organizations outsource legal work from areas where it is costly to carry out. Therefore Law firms are focusing to increase pressure from their clients to decrease costs and retain profits per partner. Traditional business methods outsourcing units are anxiously employing lawyers to take on this business. And practically every homegrown Indian law firm is building up its case.
Legal Process Outsourcing is an area of high value added BPO service involving legal work. LPO is connected with the works of Intellectual Property Rights, like patent search, patent application drafting, trademark and copyright registration, legal research, document review and analysis, contracting and administration, paralegal service, legal transcription etc. The clients of LPO are the in-house legal departments of MNC's etc, outsource from off-shore areas where it is costly to perform.
Legal Outsourcing has gained tremendous ground in the past few years in the United
States. Legal Outsourcing companies, primarily from India, have had success by providing services such as document review, legal research and writing, drafting of pleadings and briefs and providing patent services.
The principal benefits to the legal sector of any form of outsourcing remain increased levels of service, freeing management time, access to expertise and cost reductions. However, the multi-shoring concept appears to offer further advantages for firms and in-house legal departments in terms of continuous process efficiencies, shared resources, improved management and freeing space in high-cost locations for client-facing activities.
Clearly, the leaders in LPO in 2008 have demonstrated the expertise of market focus and customer centricity.
The marketplace results of this comprehensive research study, are used by
-Current outsourcing clients to compare other users’ experiences with similar and competitive LPO vendors;
-Prospective outsourcing clients to long list vendors in the RFI stages, or contrast final cut vendors in selection stages;
-Investors, venture capital firm, analysts, advisors and bankers in making financing decisions;
-Media and press to recognize industry outsourcing trends as collected from client ballots; and
-Most Service Providers to inform their go-to-market strategies, assess their perceived strengths and weaknesses, educate their staffs, communicate to a wider market, and fine-tune their improvement and marketing position programs.
The end-user groups that participate, use the data as a tool to benchmark their own satisfaction compared to that of other LPO service providers. It also provides them with the opportunity to understand the perceived strengths and weaknesses of their service providers compared to the market at large.
Who Participates in the Black Book Ranking Process
Over 400,000 individuals are invited to participate annually (including C officers of the Fortune 2000, Inc 500, institutional members and officers of various professional organizations, subscribers of our media partners and previously validated survey participants). Non-invitation receiving participants must complete a verifiable profile, utilize valid corporate email address and are then included as well. Over 24,000 users were validated in the 2008 ranking process.
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