Post the global recession, the recurring word within the mutating world of the larger legal process outsourcers has been ‘consolidation’. Strategic realignment has seen an upsurge in the drive to foster relationships between bigger more established LPOs and, where possible, to provide profitable exits for PE investors.
A new shot has been fired in the battle for legal liberalisation in India. Madras-based Advocate AK Balaji, acting for the shadowy Association of Indian Lawyers, issued a writ in mid-March 2010. The scale of the petition is considerable. It names 31 leading foreign law firms, including all of the UK’s magic circle. Most intriguingly, it names legal process outsourcer, Integreon, as one of the defendants.
The digital revolution has considerably changed the legal landscape in the area of corporate due diligence, document management and litigation document review. As a result of the increased use of internet and e-mails, the volume of documents within the corporate environment has risen exponentially. We now measure information not in terms of pages or files, but in terms of gigabytes and terabytes.
A new report from ValueNotes, a business research company, gives a summary of the changing face of the industry following the recession.
The report illustrates the extent of the slowdown in the market. In 2007, revenue growth was over 40% a year for legal process outsourcers. By 2009, it had dropped to 16%. Unfortunately, 2010 will not see much improvement in compound annual growth rates (CAGR). ValueNotes predicts only a slight rise to 19% ($440m). However, longer-term expectations are more optimistic, with CAGR predicted to rise by 26% by 2014.
LEGAL PROCESS OUTSOURCING
Post the global recession, the recurring word within the mutating world of the larger legal process outsourcers has been ‘consolidation’. Strategic realignment has seen an upsurge in the drive to foster relationships between bigger more established LPOs and, where possible, to provide profitable exits for PE investors.
A new shot has been fired in the battle for legal liberalisation in India. Madras-based Advocate AK Balaji, acting for the shadowy Association of Indian Lawyers, issued a writ in mid-March 2010. The scale of the petition is considerable. It names 31 leading foreign law firms, including all of the UK’s magic circle. Most intriguingly, it names legal process outsourcer, Integreon, as one of the defendants.
The digital revolution has considerably changed the legal landscape in the area of corporate due diligence, document management and litigation document review. As a result of the increased use of internet and e-mails, the volume of documents within the corporate environment has risen exponentially. We now measure information not in terms of pages or files, but in terms of gigabytes and terabytes.
A new report from ValueNotes, a business research company, gives a summary of the changing face of the industry following the recession.
The report illustrates the extent of the slowdown in the market. In 2007, revenue growth was over 40% a year for legal process outsourcers. By 2009, it had dropped to 16%. Unfortunately, 2010 will not see much improvement in compound annual growth rates (CAGR). ValueNotes predicts only a slight rise to 19% ($440m). However, longer-term expectations are more optimistic, with CAGR predicted to rise by 26% by 2014.