Slowly Gaining Momentum – LPO
One industry that is not doing bad at all, even during these troubled times is the “Legal Process Outsourcing”. Industry has witnessed 50 percent growth (year-on-year) for the last 7+ years. The demand for legal activities has grown from across sectors and verticals. Advantages for clients include:
• Average saving of 30%-70% per transaction to the firm/legal dept.
• Sets the stage for re-engineering of internal processes
• Employee morale and performance improves
So what are the questions "new entrants" need to get answered, to make sure that they can start and grow successful businesses. To start with one important aspect that they can learn about are the presence of any entry barriers. As part of this research we talked to people in the LPO industry and asked them an important question for start-ups in LPO - What are the qualifying conditions in a typical RFP?