India Business Law Journal recognizes and rewards five legal process outsourcing providers that are ahead of the game. Rebecca Abraham reports
Global mining giant Rio Tinto, with an annual legal budget of US$14 million, made big news when it announced in 2009 that it was outsourcing part of its contract review and drafting, legal research, and document review work to the India operations of CPA Global. Law firms in high-cost jurisdictions such as London and Sydney were expected to lose out, while it was seen as a big win for India’s legal industry with its large number of lower-cost lawyers.
Five years on, and a decade after legal process outsourcing providers (LPOs) began making their presence felt, being able to provide efficient and low-cost lawyers is not enough and leading market players speak increasingly of the technology that is driving their ability to provide more for less.
“Without the technology platform and without the services that overlay it, which is very strong on data analytics, it’s difficult to drive real value for corporations.” says Ajanta Roy of Axiom, an alternative legal services provider that offers insourcing (part-time and full-time secondees) and outsourcing services. Roy is a director of Axiom’s operations in Gurgaon, which is one of its five “centres of excellence” across the world that provide “technology enabled legal services”.