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A slowdown in the US is having an equal and opposite effect on the Indian legal process outsourcing (LPO) sector. LPO firms are reporting a rise of over 200 per cent in revenues in the last 12 months. LPOs are seeing a dramatic rise in litigation, intellectual property infringement work and bankruptcy related document-drafting. “We have seen a dramatic rise in business from the litigation and IP infringement verticals in the last three months, as organistaions look to make money due to brand or IP infringement since there’s a slowdown in consumer spending in the US. We have ramped up our headcount correspondingly by almost 50 per cent and plan to scale up more in the coming months,” says Sanjay Kamlani, CEO of Mumbai based Pangea3. The rise in new business from litigation is due to a crash in stocks post the sub prime crisis on the Wall St reet, which led many stockholders to sue companies. US based companies are also looking to cut costs and offshore legal work to India, as lawyers are one of the highest paid professionals in the US. “A junior lawyer on the US east coast (where the major stock exchanges are located) makes about $1, 65,000- $2, 00,000 per year. The same work can be done at one-tenth the cost in India. As companies look to cut costs, we see a rise in our toplines,” says Matthew Banks, senior vice president, Legal Services, Integreon. Mumbai based Integreon has about 420 associates in the LPO business and has seen over 200 per cent rise in revenues in the past 12 months.
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