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2009 Top Legal Process Outsourcing (LPO) Vendors, Black Book Survey Results
The Black Book of Outsourcing, July 2009, Pages: 61
Legal Process Outsourcing (LPO) is estimated to have a current value of $80 million per annum with 75% of services based in India. This figure is forecast to rise to $4 billion by 2015. Service providers expect to offer 30% to 70% savings in core legal and legal support costs. Client relationship, cultural fit and trust are key to successful LPO.
Scope of this research
- The LPO survey investigates over 300 contracts held globally by 1,200 of the top law firms, investment banks, capital markets and multinationals
- LPO providers are assessed each year against 18 operational excellence criteria with overall rankings for core legal and legal support providers
- Core legal and legal support activities are analysed into the services most commonly taken by customer organisations
- User satisfaction, accuracy and security ratings are assessed by key geographies and over time
Research and analysis highlights
- Client relationships, cultural fit and trust are proving to be the most important factors in successful legal process outsourcing. This year's survey records high levels of customer satisfaction and sees an evolving multi-shore model to ensure that global delivery is effective.
- In Core Legal services LPO, the survey scores and ranks LPO providers in Legal Research & Analytics, Litigation Support, Discovery & Forensics, Contract Review & Management, Intellectual Property & Patents and Corporate Governance & Compliance.
- In Legal Support services LPO, the survey scores and ranks LPO providers in Legal & Paralegal Staffing Services, Billing & Financial Support, Legal Document Support (transcription, translation, clerical) and Creative Support.
Key reasons to purchase this research
- Existing LPO clients compare their own experience with that of other users while prospective clients use the data as part of their selection process
- Investors, venture capital firms, analysts and bankers use the survey outcomes to support financing decisions in this growing market
- BPO and LPO providers use the data to analyse their own strengths and weaknesses using this to inform and plan their own go to market strategies
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