Economic Pressures and Uncertainty Increase Appetite for Legal Outsourcing
28 January 2008
28 January 2008
CPA's Chris Veator addresses audience of legal professionals at the India Legal Process Outsourcing (LPO) Summit in New York
NEW YORK, January 28, 2008 – With the worldwide economy entering uncharted territory, more companies will aggressively seek innovative ways to increase capacity while reducing the cost of doing business. Many will do so by outsourcing elements of their legal operations to third-party providers, Chris Veator, Executive Vice President of CPA Legal Services, said at the India Legal Process Outsourcing Summit in New York.
"If you think there's a real need for cost savings in today’s economic environment," he said, "just imagine what the demand for cost savings will be a year from now if current trends persist."
Veator noted the Fulbright 4th Annual Litigation Trends Survey 2007 found that litigation continues to increase, with nearly 90 percent of US corporations now engaged in some form of it. This fact further underscores the need to outsource costly and time consuming tasks such as recruiting, training, and managing resources that handle lower profit and higher risk functions for law firms and corporate legal departments, Veator said.
Earlier this month, CPA co-sponsored the "India LPO Summit: Outsourcing Legal Services Offshore", which brought together representatives from law firms and corporate legal departments to discuss the growing trend of shifting legal functions to India.
Forrester Research forecasts that the value of legal outsourcing to India will grow to $4 billion by 2015 from $80 million today.
About CPA
With a 40-year history of solving complex challenges for the legal community, CPA is a leading provider of outsourced IP, Litigation Support, and Contract Management solutions. CPA has 40,000 clients worldwide and a record of providing law firms and corporations with tools and solutions to help them realise value by managing risk, cost and capacity.
CPA is a multi-shore company with offices in seven countries.
For further information about CPA visit: Legal Process Outsourcing
Media Contact
Julie Mandell, CPA, (571) 227-7025
Justin Dini, Brunswick Group, (212) 333-3810
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