Manthan Legal @ Global LPO Conference, Nov 13-14, 2010
Online PR News – 04-December-2010 – – The Global LPO Conference 2010 was organized in Noida, India on November 13th and 14th. This is one of the most significant events for the Legal Process Outsourcing industry. The LPO industry that today stands at $400 million is projected to reach $4bn by the year 2015. Hence it will have significant influence on how legal services will be delivered globally going forward.
The Global LPO Conference saw the participation of the bigwigs of the legal industry including participants from General Counsels, Law firms and LPO vendors. The event served as an international forum for all the stakeholders to get together and discuss better value-creation strategies.
Manthan’s Mr. Gururaj Potnis, was an active participant in the panel discussion on “Tapping full business potential of an LPO relationship.” He led the discussion saying that both corporate counsels and law firms can bring forth the full potential of a LPO relationship when they combine the 4 key ingredients -- People, Project Management, Technology and Business Process Re-engineering.
He elaborated people involved in an LPO relationship at both the client and the vendor side should have a mix of good lawyers and business process experts.
Strong project management combining processes, quality framework, and collaborative communication with customer create a healthy environment for conducting LPO relationship. It is important to make the customer feel that they have visibility, assurance and control over the outcome of an LPO relationship with a vendor.
LPO providers need to use the latest technology to offer automation, workflow and data reduction solutions to customers. Since the corporate counsel team and the law firms teams find it an uphill challenge to keep up with the fast changing technology and technology platform, the LPO firms can equip themselves to become the technology talent and platform repository.
An ability of LPO provider to bring in industry best practices to their customers and reengineer legal workflow processes that reduce systemic redundancies will make LPO provider a valuable partner for the General Counsels.
Hence, these 4 factors are “Keys” to make a “Client-LPO provider” relationship work best for you. For those who thought LPO is all about cheaper resources, think again!
The highlights of the Global LPO Conference was the acknowledgement by participating General Counsels that the LPO industry has reached a healthy maturity, and that the stakeholders in a corporation are no more tolerant of ignoring this option to rationalize legal spend. The Conference acted as a great common ground for the participants to increase their awareness of this industry as well as a place to network with some of the leading LPO players. The Conference concluded on a very optimistic note.
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