In an amazingly well written article in Law Gazette, James Dean tries to break the myth surrounding the working conditions in LPO companies and present the real picture of growth, dynamic work culture and synchronisation of technology and skill expertise.
James takes the reader through his journey of one of the best legal service outsourcing units - CPA Global - and puts forth the point of view of its people. Read more to know the pace of growth of the legal outsourcing industry, expansion plans of CPA Global and how people especially lawyers have embraced this industry.
Thursday, February 25, 2010
Thursday, February 18, 2010
Lawyers soon to become expert project managers
In an article, which appeared in Hilderbrandt, a very interesting question was put forth before the readers. The question is related to the current discussions on having alternative pricing, which is now challenging the billable hour. The author in an attempt to go to the root cause of the problem, which is to understand COSTS, enters in the labyrinth of questions. The most basic one being that what has led to doubling of costs by the lawyers in recent few years. “Is it because there was an added complication one time or was the job just poorly managed? If it’s the latter, is it possible to make someone (a lawyer) a good project manager?”
Lawyers have no doubt in recent years have understood the mechanics of globalization and economics. They have also understood that budgetary issues now no more surface in the job description of financial experts alone. It is now the time to get into legal project management as well. This is one area where niche legal services outsourcing firms can provide the much needed exposure and experience. The huge ambit of work dealt by such firms gives the lawyers working their opportunities to learn and execute different principles of legal project management. There are multiple success stories in such companies where an individual who joined in as a legal analyst have in short span of time and owing to challenging nature of work has become a leader of big teams of lawyers and paralegals.
Gradually the mindset regarding LPO units is changing among the masses. They now comprehend the multi-dimensionality of work done in big LPO companies such as CPA Global and are eager to carve their career in such organizations.
Lawyers have no doubt in recent years have understood the mechanics of globalization and economics. They have also understood that budgetary issues now no more surface in the job description of financial experts alone. It is now the time to get into legal project management as well. This is one area where niche legal services outsourcing firms can provide the much needed exposure and experience. The huge ambit of work dealt by such firms gives the lawyers working their opportunities to learn and execute different principles of legal project management. There are multiple success stories in such companies where an individual who joined in as a legal analyst have in short span of time and owing to challenging nature of work has become a leader of big teams of lawyers and paralegals.
Gradually the mindset regarding LPO units is changing among the masses. They now comprehend the multi-dimensionality of work done in big LPO companies such as CPA Global and are eager to carve their career in such organizations.
Tuesday, February 16, 2010
Press Release: Intermediate Capital Group acquires significant stake in CPA Global
Legal services firm set for strong growth as outsourcing sector takes off
Intermediate Capital Group (“ICG”), a leading independent investor and fund manager, announces that it has acquired a significant minority stake in legal services firm CPA Global, investing alongside the company’s senior management team and the founding shareholders.
The acquisition has received the required approvals from CPA Global shareholders as well as the Jersey courts, which sanctioned a new Scheme of Arrangement that came into effect today. The terms of the transaction are not disclosed.
Founded in Jersey in 1969, originally to manage patent renewals, CPA Global has expanded over the years to become a multinational company that is the clear market leader in the global intellectual property (IP) services market and one of the world's leading providers of broader legal services outsourcing, including litigation support, document review and contract management. The legal services outsourcing sector is expected to grow rapidly over the next few years, with estimates of the potential market value in the tens of billions of dollars.
CPA Global’s Chief Executive Officer, Peter Sewell, said: “This is a very exciting time for CPA Global and everyone involved in the company. It represents the next stage in our evolution from an IP partnership handling patent renewals into a global leader in IP and legal services outsourcing. Our growth prospects in the years ahead are the strongest we’ve ever seen as we continue to develop our IP services and software businesses with an expanded range of products and services, while aggressively pursuing our diversification into the wider legal services sector. This sector is really taking off as corporate clients are increasingly turning to outsourcing providers for alternative, more cost effective ways of managing their legal work. CPA Global is already recognised as a pacesetter in legal outsourcing, working with many major international corporations around the world, and, with ICG’s backing and support, we will be even better positioned to take advantage of the opportunities ahead.”
Piers Millar, Head of ICG Minority Partners, said: “Peter and the management team have built a fantastic business over the past decade gaining market share and developing new business areas. We believe CPA Global has a very exciting future and we are really delighted to be supporting them in their ongoing development.”
CPA Global was advised by BDO Corporate Finance. ICG was advised by HSBC and Close Brothers.
For further information, please contact:
CPA Global
Steve Clark +44 (0)20 7549 0679, sclark@cpaglobal.com
Rob Coveney +44 (0)20 7549 5505, rcoveney@cpaglobal.com
ICG
Media
Amanda Fong +44 (0) 20 7448 4156, amanda.fong@icgplc.com
Analyst / Investor enquiries
Jean-Christophe Rey +44 (0) 20 7448 5876, jc.rey@icgplc.com
M: Communications:
Charlotte Kirkham or Tim Draper, M: Communications, +44 (0) 20 7920 2331, kirkham@mcomgroup.com, draper@mcomgroup.com
Further information on the companies:
About CPA Global
CPA Global is one of the world's leading providers of legal services outsourcing, including litigation support, document review, contract management, and intellectual property (IP) management and software services. With offices across Europe, the United States, Asia and the Pacific, CPA Global supports many of the world's best known corporations and law firms with a diverse set of legal and IP specific requirements.
Founded in Jersey, Channel Islands in 1969, CPA Global today employs more than 1,300 people in 15 offices in ten countries, including key city locations such as London, Paris, Munich, Washington DC, Sydney, Hong Kong and New Delhi; and has strategic partnerships covering a number of other important markets, including Japan and Korea. The company has a large and diverse list of clients: from major global corporations to small and medium-sized enterprises and innovation start-ups; and from the top international law firms to national and regional law and IP firms. Clients include leading Fortune 500 and FTSE companies, and two-thirds of the Global Lawyer 100.
CPA Global provides management services for its clients’ valuable IP Rights, such as patents, designs and trademarks, helping ensure that IP portfolios are protected, maintained and regularly reviewed in order to maximise value. Through its successful diversification strategy, the company has also established itself as a leader in the growing market for broader outsourced legal services, helping law firms and corporations to realise value by managing risk, cost and capacity on their behalf.
Legal Process Outsourcing (LPO) is changing the legal services landscape and CPA Global is at the forefront of that change. In June 2009, CPA Global announced a landmark deal to supply outsourced legal services to global mining company Rio Tinto – a deal that was heralded by The Times as ‘ground-breaking’ and which attracted worldwide media coverage as well as the keen attention of the legal profession and international business community. CPA Global has firmly established itself as a leader in this sector, signing deals with a number of major international corporations; and investing heavily in building the business with two state-of-the-art facilities in New Delhi, now employing around 600 highly skilled staff, and three onshore delivery centres in the US.
CPA Global’s leadership position is underlined by its ranking as the world’s top intellectual property outsourcing provider and its second place overall for core legal services outsourcing in the Brown-Wilson Group’s Black Book of Outsourcing 2009. CPA Global also achieved more first place ‘quality’ ratings in this prestigious industry survey than any other provider. This follows CPA Global’s success in the International Association of Outsourcing Professionals 2009 Global Outsourcing 100 list, in which it achieved the highest position of any pure-play legal services outsourcing provider. For more information, visit: www.cpaglobal.com
About ICG
Founded in 1989 Intermediate Capital Group PLC (“ICG”) is a leading independent investor in and manager of mezzanine finance, minority equity and related assets with approximately £10 billion under management in proprietary capital and third party funds. ICG has a large and experienced investment team of investment executives operating from its head office in London and offices in Paris, Madrid, Stockholm, Frankfurt, Amsterdam, Hong Kong, Sydney and New York. Its stock (ticker symbol: ICP) is listed on the London Stock Exchange. Further information is available at: www.icgplc.com.
Intermediate Capital Group (“ICG”), a leading independent investor and fund manager, announces that it has acquired a significant minority stake in legal services firm CPA Global, investing alongside the company’s senior management team and the founding shareholders.
The acquisition has received the required approvals from CPA Global shareholders as well as the Jersey courts, which sanctioned a new Scheme of Arrangement that came into effect today. The terms of the transaction are not disclosed.
Founded in Jersey in 1969, originally to manage patent renewals, CPA Global has expanded over the years to become a multinational company that is the clear market leader in the global intellectual property (IP) services market and one of the world's leading providers of broader legal services outsourcing, including litigation support, document review and contract management. The legal services outsourcing sector is expected to grow rapidly over the next few years, with estimates of the potential market value in the tens of billions of dollars.
CPA Global’s Chief Executive Officer, Peter Sewell, said: “This is a very exciting time for CPA Global and everyone involved in the company. It represents the next stage in our evolution from an IP partnership handling patent renewals into a global leader in IP and legal services outsourcing. Our growth prospects in the years ahead are the strongest we’ve ever seen as we continue to develop our IP services and software businesses with an expanded range of products and services, while aggressively pursuing our diversification into the wider legal services sector. This sector is really taking off as corporate clients are increasingly turning to outsourcing providers for alternative, more cost effective ways of managing their legal work. CPA Global is already recognised as a pacesetter in legal outsourcing, working with many major international corporations around the world, and, with ICG’s backing and support, we will be even better positioned to take advantage of the opportunities ahead.”
Piers Millar, Head of ICG Minority Partners, said: “Peter and the management team have built a fantastic business over the past decade gaining market share and developing new business areas. We believe CPA Global has a very exciting future and we are really delighted to be supporting them in their ongoing development.”
CPA Global was advised by BDO Corporate Finance. ICG was advised by HSBC and Close Brothers.
For further information, please contact:
CPA Global
Steve Clark +44 (0)20 7549 0679, sclark@cpaglobal.com
Rob Coveney +44 (0)20 7549 5505, rcoveney@cpaglobal.com
ICG
Media
Amanda Fong +44 (0) 20 7448 4156, amanda.fong@icgplc.com
Analyst / Investor enquiries
Jean-Christophe Rey +44 (0) 20 7448 5876, jc.rey@icgplc.com
M: Communications:
Charlotte Kirkham or Tim Draper, M: Communications, +44 (0) 20 7920 2331, kirkham@mcomgroup.com, draper@mcomgroup.com
Further information on the companies:
About CPA Global
CPA Global is one of the world's leading providers of legal services outsourcing, including litigation support, document review, contract management, and intellectual property (IP) management and software services. With offices across Europe, the United States, Asia and the Pacific, CPA Global supports many of the world's best known corporations and law firms with a diverse set of legal and IP specific requirements.
Founded in Jersey, Channel Islands in 1969, CPA Global today employs more than 1,300 people in 15 offices in ten countries, including key city locations such as London, Paris, Munich, Washington DC, Sydney, Hong Kong and New Delhi; and has strategic partnerships covering a number of other important markets, including Japan and Korea. The company has a large and diverse list of clients: from major global corporations to small and medium-sized enterprises and innovation start-ups; and from the top international law firms to national and regional law and IP firms. Clients include leading Fortune 500 and FTSE companies, and two-thirds of the Global Lawyer 100.
CPA Global provides management services for its clients’ valuable IP Rights, such as patents, designs and trademarks, helping ensure that IP portfolios are protected, maintained and regularly reviewed in order to maximise value. Through its successful diversification strategy, the company has also established itself as a leader in the growing market for broader outsourced legal services, helping law firms and corporations to realise value by managing risk, cost and capacity on their behalf.
Legal Process Outsourcing (LPO) is changing the legal services landscape and CPA Global is at the forefront of that change. In June 2009, CPA Global announced a landmark deal to supply outsourced legal services to global mining company Rio Tinto – a deal that was heralded by The Times as ‘ground-breaking’ and which attracted worldwide media coverage as well as the keen attention of the legal profession and international business community. CPA Global has firmly established itself as a leader in this sector, signing deals with a number of major international corporations; and investing heavily in building the business with two state-of-the-art facilities in New Delhi, now employing around 600 highly skilled staff, and three onshore delivery centres in the US.
CPA Global’s leadership position is underlined by its ranking as the world’s top intellectual property outsourcing provider and its second place overall for core legal services outsourcing in the Brown-Wilson Group’s Black Book of Outsourcing 2009. CPA Global also achieved more first place ‘quality’ ratings in this prestigious industry survey than any other provider. This follows CPA Global’s success in the International Association of Outsourcing Professionals 2009 Global Outsourcing 100 list, in which it achieved the highest position of any pure-play legal services outsourcing provider. For more information, visit: www.cpaglobal.com
About ICG
Founded in 1989 Intermediate Capital Group PLC (“ICG”) is a leading independent investor in and manager of mezzanine finance, minority equity and related assets with approximately £10 billion under management in proprietary capital and third party funds. ICG has a large and experienced investment team of investment executives operating from its head office in London and offices in Paris, Madrid, Stockholm, Frankfurt, Amsterdam, Hong Kong, Sydney and New York. Its stock (ticker symbol: ICP) is listed on the London Stock Exchange. Further information is available at: www.icgplc.com.
CPA Global achieves another milestone
In a new rating model developed by ValueNotes, CPA Global has been recognized as a ‘pacesetter’ in legal services outsourcing industry.
The ValueNotes Sourcing Prism rates LPO providers in three areas: service maturity, sustainability and strategic intent. CPA Global was at the top position in all these categories.
Read more to know about the rating model and what made CPA Global get the top position amongst all the LPO players.
The ValueNotes Sourcing Prism rates LPO providers in three areas: service maturity, sustainability and strategic intent. CPA Global was at the top position in all these categories.
Read more to know about the rating model and what made CPA Global get the top position amongst all the LPO players.
Legal Services outsourcing: Now mandatory to know
In an article, which appeared in Financial Director, various facets of the emerging LPO business came forth.
The first major finding has been that the law firms have been quick in taking services provided by LPO companies rather than big businesses. However, the last year deal between CPA Global and mining giant, Rio Tinto, seems to herald a new chapter in the way legal outsourcing services are viewed.
The second big point is about cost saving. I have repeatedly mentioned in my articles that although cost saving is the major attraction, it is the Quality of the work which scores a point. “Cost is not the only cause of the renaissance in legal outsourcing; more clients are beginning to realize there are also opportunities to improve process efficiency and transparency, while still maintaining exemplary standards of quality and security” Rob Stichbury, CPA Global’s Director of Business Development.
It’s not only the client who needs to check the credentials as well as service provided by LPO companies, but also the service providers who need to know that process improvement, innovation, data security and consistent and strict adherence to Quality standards is what would help them in the present scenario of mushrooming LPO units.
The first major finding has been that the law firms have been quick in taking services provided by LPO companies rather than big businesses. However, the last year deal between CPA Global and mining giant, Rio Tinto, seems to herald a new chapter in the way legal outsourcing services are viewed.
The second big point is about cost saving. I have repeatedly mentioned in my articles that although cost saving is the major attraction, it is the Quality of the work which scores a point. “Cost is not the only cause of the renaissance in legal outsourcing; more clients are beginning to realize there are also opportunities to improve process efficiency and transparency, while still maintaining exemplary standards of quality and security” Rob Stichbury, CPA Global’s Director of Business Development.
It’s not only the client who needs to check the credentials as well as service provided by LPO companies, but also the service providers who need to know that process improvement, innovation, data security and consistent and strict adherence to Quality standards is what would help them in the present scenario of mushrooming LPO units.
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