New research highlights financial benefits of legal process outsourcing
Via LegalWeek.com
New research produced by PricewaterhouseCoopers has highlighted the growth of legal process outsourcing (LPO) services in the wake of the economic downturn.
The study, which canvassed 514 outsourcing service providers in 50 countries around the world, identified legal services outsourcing as providing the highest cost savings - 44% - in comparison to other markets.
The research also revealed that LPO services realise the highest profit margin for providers, with an average margin of 29%, ahead of IT (24%), finance and accounting (21%) and procurement (19%).
Meanwhile, 82% of LPO providers that responded to the survey are planning to expand the scale of their existing services over the next two to three years, while 11% of all respondents said that they intend to provide legal services for the first time during the next 18-36 months.
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New research produced by PricewaterhouseCoopers has highlighted the growth of legal process outsourcing (LPO) services in the wake of the economic downturn.
The study, which canvassed 514 outsourcing service providers in 50 countries around the world, identified legal services outsourcing as providing the highest cost savings - 44% - in comparison to other markets.
The research also revealed that LPO services realise the highest profit margin for providers, with an average margin of 29%, ahead of IT (24%), finance and accounting (21%) and procurement (19%).
Meanwhile, 82% of LPO providers that responded to the survey are planning to expand the scale of their existing services over the next two to three years, while 11% of all respondents said that they intend to provide legal services for the first time during the next 18-36 months.
To continue reading full article CLICK HERE