Monday, November 07, 2005

More Numbers and Nature of Players

An article from The Outsourcing Forum, titled, "US legal services firms test offshore outsourcing" (dated, but relevant nonetheless).

The article ends on a gloomish note (below), but hey, LPO is expected to generate revenues to the tune of $300 million by 2010 and $1 billion by 2015. Keep it coming, baby! Oops, legal professionals are supposed to be more sophisticated ;-)

The LPO market is unlikely to experience the high rates of growth projected for the knowledge process outsourcing industry. Aggarwal points to the risk-averse nature of the legal profession and the need for client confidentiality as reasons why legal services may not be offshored in large volumes. Echoing these views, Parikh feels that captive centers have a better chance of surviving than third-party vendors because “there are liabilities that US lawyers may not want to take on.”