Vision Shopsters - Legal Outsourcing: The Law Firm Perspective
Introduction
Introduction
Law firms are having to deal with dramatic growth in legal process outsourcing (LPO) and the relentless spread towards higher-value legal processes. At the same time, they are facing a growing trend among their major clients of consolidating multiple existing law firm relationships into a few wider, longer-term legal service outsourcing (LSO) arrangements with far more demanding commercial models.
Scope
*Analysis and insight into the developing role of law firms in the evolving Legal Process Outsourcing and wider Legal Services Outsourcing markets.
*Based on structured interviews with senior partners across the top 30 major law firms at the heart of the legal outsourcing market.
Highlights
Includes the capture of confidential quantitative information on the extent of current outsourcing, how this is expected to change over the next two years, and predictions for the ultimate market penetration for LPO and LSO.
Reasons to Purchase
*Analyses the changing competitive positioning of law firms as legal outsourcing and offshoring takes hold in the market.
*Understand how fast firms are adopting legal outsourcing, and in what specific functional areas.
Table Of Contents :
Overview 1
Introduction 1
Summary 1
Methodology 1
Executive Summary 3
The legal outsourcing market is experiencing a major upheaval 3
Unprecedented access to key decision-makers within the major law firms 4
Analysis of law firm response to the opportunities and threats posed by LPO and LSO 4
Table of Contents 6
Table of Figures 7
Table of Tables 8
The Evolving Legal Outsourcing Market 9
The primary market players: enterprise legal functions, law firms and LPO providers 9
Three different models for legal outsourcing: conventional, LPO and now LSO 11
Activity flows with the legal outsourcing market 12
A major shift from tactical to strategic LPO 14
LPO is spreading steadily up the value levels 15
The emerging LSO model 17
Market Growth Predictions 19
The 'perfect storm' 19
Stage set for dramatic acceleration in LPO and LSO 19
LSO will fuel additional growth in LPO 22
LPO and LSO have significant future growth potential 22
Law Firms: Drivers and Responses 24
Demand for flexibility and cost reduction from enterprise legal functions 24
Increasingly effective competition from non-law firms 26
Growing law firm recognition of LPO and LSO a major threat and opportunity 27
Law firm adoption of new operating models now gathering pace 30
LPO pilot strategies set to become 'business as usual' across firms 30
Need for an LSO response becoming more urgent 32
Conclusions 34
Proactive law firms will reap longer-term benefits 34
Appendix 36
Further reading 36
Ask the analyst 36
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