Legal process outsourcing to grow 28.67%
The global legal process outsourcing (LPO) sector is forecast to grow at a compounded annual growth rate of 28.67 from 2017 to 2021. LPO is the process of procuring legal services from an external provider. According to a recent report, among the drivers in the growth of the global LPO market is cost reduction and enhanced efficiency of legal processes. One challenge in the market is conflict of interest. Projects taken under LPO need to undergo a thorough background check for issues that might affect the client, according to the report. It also identified cloud computing as one trend that is emerging in the market. Cloud technology has transformed the mode of outsourcing business processes and this could also be adapted to LPO, according to the report.
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