Legal Process Outsourcing (LPO) is a growing business segment and is expected to generate an income of $640 million by the year 2011. The industry is also expected to be the fastest growing outsourcing business, according to a report released by the research agency.
The findings based on ValueNotes maintains that India is expected to have a major share in this forecasted revenue from LPO, which will also open huge employment opportunities in India.
"LPOs are seen as a more stable career option than opportunities in the mainstream IT and ITeS sector.
Unlike other segments in outsourcing, the LPO segment has seen a robust growth even during recessionary times, thus providing a stable career option," said Lokendra Tomar, Chief Operating Officer, Asia-Pacific, Integreon, a LPO firm.
The LPO industry will be generating employment opportunities for all the lawyersincluding lawyers, graduates, freshers and MBAs.
Agencies
Showing posts with label ValueNotes. Show all posts
Showing posts with label ValueNotes. Show all posts
Saturday, June 13, 2009
Tuesday, May 5, 2009
India publishing BPO industry to cross $ 1.2 billion, says ValueNotes
A recently released report by ValueNotes estimates that the Indian publishing BPO industry is expected to grow to a value of $ 1.2 billion by 2012.
This growth is expected to come from rise in the number of publishing companies that will outsource - which include traditional segments such as STM/Academic, Educational & Legal Publishing, as well as new segments such as magazines, corporate and B2B publishing.
India continues to remain the favored publishing BPO hub - with 35,550 people in direct employment, and revenues worth $ 660 million as of end-2008. While revenues are expected to cross $ 1.2 billion by 2012, the total employee strength is estimated to cross 55,000 by 2012.
Publishing outsourcing includes a wide range of services. The four broad heads include content, design, technology and 'other' services.
Content continues to drive the industry and contributes to 72 per cent of the total industry revenues.
Over the last couple of years, services offshored have undergone a transition - from low value services such as tagging, editing existing designs, copy editing to high value services such as original designs, testing and assessment and e-learning tools.
There has been an influx of technology in the industry that has enhanced productivity, workflow management and most importantly reduced costs and turnaround time.
According to Arun Jethmalani, CEO, ValueNotes, "Most providers have access to similar technology, however the differentiator has really been the capabilities developed around workflow and innovation. Today's technology will become tomorrow's standard and constant innovation will differentiate the winners."
Aradhana Kolhatkar, lead analyst, Publishing Services, ValueNotes, said: "Indian players are shifting focus from the matured STM segment to the more lucrative segments in the publishing market. We believe that educational, magazines, corporate/B2B, trade and e-books will be attractive segments over the next 3-4 years. Indian service providers can extend their current capabilities to service these upcoming opportunities."
Based on exhaustive primary research and analysis of this sector, ValueNotes has identified and established that there are over 140 vendors in the publishing offshoring industry. Of these we have identified SPi, Aptara, Integra and Laserwords as frontrunners in the industry.
ValueNotes Database is a leading provider of business intelligence and research, with expertise across selected domains and types of customer needs. Working with clients across the globe, we have significant understanding of international markets.
Agencies
This growth is expected to come from rise in the number of publishing companies that will outsource - which include traditional segments such as STM/Academic, Educational & Legal Publishing, as well as new segments such as magazines, corporate and B2B publishing.
India continues to remain the favored publishing BPO hub - with 35,550 people in direct employment, and revenues worth $ 660 million as of end-2008. While revenues are expected to cross $ 1.2 billion by 2012, the total employee strength is estimated to cross 55,000 by 2012.
Publishing outsourcing includes a wide range of services. The four broad heads include content, design, technology and 'other' services.
Content continues to drive the industry and contributes to 72 per cent of the total industry revenues.
Over the last couple of years, services offshored have undergone a transition - from low value services such as tagging, editing existing designs, copy editing to high value services such as original designs, testing and assessment and e-learning tools.
There has been an influx of technology in the industry that has enhanced productivity, workflow management and most importantly reduced costs and turnaround time.
According to Arun Jethmalani, CEO, ValueNotes, "Most providers have access to similar technology, however the differentiator has really been the capabilities developed around workflow and innovation. Today's technology will become tomorrow's standard and constant innovation will differentiate the winners."
Aradhana Kolhatkar, lead analyst, Publishing Services, ValueNotes, said: "Indian players are shifting focus from the matured STM segment to the more lucrative segments in the publishing market. We believe that educational, magazines, corporate/B2B, trade and e-books will be attractive segments over the next 3-4 years. Indian service providers can extend their current capabilities to service these upcoming opportunities."
Based on exhaustive primary research and analysis of this sector, ValueNotes has identified and established that there are over 140 vendors in the publishing offshoring industry. Of these we have identified SPi, Aptara, Integra and Laserwords as frontrunners in the industry.
ValueNotes Database is a leading provider of business intelligence and research, with expertise across selected domains and types of customer needs. Working with clients across the globe, we have significant understanding of international markets.
Agencies
Sunday, February 8, 2009
Is LPOs set to ramp up headcount in India?
The global slowdown is keeping the legal process outsourcing (LPO) sector in India extra busy these days. With the sudden surge in business in the LPO space in the last one year, firms such as Pangea3, UnitedLex and Legal Circle are looking at ramping up headcount in the entry and mid-management levels over the next few months.
The turmoil in the financial services sector globally is driving more legal outsourcing to India both in the corporate and litigation space. Gurgaon-based UnitedLex’s vice-president HR, Rakhi Sharma, said, “We plan to hire 700 professionals in the next few months to keep pace with the work coming from the US and the UK.”
The firm has seen a significant jump in the number of outsourced projects over the last few months both in the corporate and litigation space. Bankruptcy filings in the US have gone up in the last couple of months raising demand for lawyers in India.
“Legal work related to bankruptcies in the global market has increased ,” said Pangea 3 Vice President Legal Services Antony Alex, adding that the law firm is set to recruit around 500 lawyers by the end of 2009. This includes campus placements across several law schools in the country.
Legal Circle, the LPO subsidiary of Delhi-based law firm Fox Mandal Little, too, is gearing up to ramp up headcount to take advantage of the booming time. “The demand for LPOs is on the rise and we have seen increased number of queries from the US to do litigation support from India,” said Fox Mandal Little managing partner Som Mandal.
According to research firm ValueNotes, the entire legal outsourcing industry in India reported revenues of $225 million in 2007, and is expected to generate revenues of around $640 million by the end of 2010. The sector reported a rise of over 200 per cent in revenues in the last 12 months.
Times of India
The turmoil in the financial services sector globally is driving more legal outsourcing to India both in the corporate and litigation space. Gurgaon-based UnitedLex’s vice-president HR, Rakhi Sharma, said, “We plan to hire 700 professionals in the next few months to keep pace with the work coming from the US and the UK.”
The firm has seen a significant jump in the number of outsourced projects over the last few months both in the corporate and litigation space. Bankruptcy filings in the US have gone up in the last couple of months raising demand for lawyers in India.
“Legal work related to bankruptcies in the global market has increased ,” said Pangea 3 Vice President Legal Services Antony Alex, adding that the law firm is set to recruit around 500 lawyers by the end of 2009. This includes campus placements across several law schools in the country.
Legal Circle, the LPO subsidiary of Delhi-based law firm Fox Mandal Little, too, is gearing up to ramp up headcount to take advantage of the booming time. “The demand for LPOs is on the rise and we have seen increased number of queries from the US to do litigation support from India,” said Fox Mandal Little managing partner Som Mandal.
According to research firm ValueNotes, the entire legal outsourcing industry in India reported revenues of $225 million in 2007, and is expected to generate revenues of around $640 million by the end of 2010. The sector reported a rise of over 200 per cent in revenues in the last 12 months.
Times of India
Subscribe to:
Posts (Atom)