PH an excellent LPO destination
The Legal Process Outsourcing (LPO) market is projected to hit USD40bn by 2024 due to the increasing requirement for efficient legal departments to manage process-oriented and high-volume legal work, according to a recent study. Consequently, the rapid increase in the cost of legal proceedings has led companies to outsource these services. Cost-efficiency is one of the major factors benefitting the LPO market landscape. LPO market is characterized by the need to reduce the cost of legal services. With this scenario, the Philippines’s LPO market share will be driven by the decreasing cost of legal services accompanied with the infrastructure, making it an excellent offshoring destination.
