2. Understand The Market

LPO_legal_process_outsourcing

Our 2012 LPO Legal Process Outsourcing Market Research Study shows that Legal Process Outsourcing ( LPO ) has grown much faster than anyone recognised. However, almost all of this has been at the tactical, project-based level. Only 13% of law firms have actually used any kind of LPO; and even then only to about 7% of their full potential use.

General Counsel are increasingly buying directly from the Legal Process Outsourcing – LPO suppliers. Some suppliers are now providing 75% of their work directly to GCs, cutting Law Firms out of areas that were previously their sole domain. Even on the tactical level, this is a threat to law firms

Where the real opportunity for Law Firms and General Counsel lies is in taking the step from Tactical to Strategic Outsourcing. Therein lies lower costs, faster turnaround, measureable quality improvements, and potential asset realisation.

Market Research LPO Legal process outsourcing

 

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