The Report ‘Legal Services Outsourcing: What Do Law Firms Think?’ Is Valuable To Offshore Legal Service Providers
May 19, 2009
DUBLIN–(BUSINESS WIRE) — Research and Markets has announced the addition of the “Legal Services Outsourcing: What do Law Firms Think?” report to their offering.
Offshoring of legal services to India began way back in 1995 when law firm Bickel & Brewer opened a captive facility in India. However, legal services outsourcing industry started to attract significant attention and media hype only around 2005. In just a matter of few years the industry has grown to reach $225 m in revenues in 2008. However, this is only a very small portion (-5%) of the addressable market.
The US and UK based law firms and in-house legal counsels are the key buyers of legal services. Several international law firms are building relationships and exploring newer business/operating models through tie-ups and partnerships and are trying to understand the offshore market.
While offshoring legal services is gradually gaining acceptance, several law firms still have apprehensions about offshoring. Hence, we decided to focus on the concerns and expectations of law firms. We spoke to a number of attorneys and law firms in an attempt to decipher their mindsets and expectations from the service provider.
The report provides an understanding of what law firms think about offshoring and what are their key drivers and concerns. The report is designed to help:
- Law Firms, Corporations, Lawyers looking to outsource/offshore
- Outsourcing consultants
- Offshored legal service providers to understand the buyer concerns
- Researchers looking for information on legal services outsourcing
Offshore legal service providers will find this study valuable in understanding the concerns of law firms with respect to outsourcing and offshoring.
The report is based on a survey conducted in two phases: Online and Telephonic. In the first part of our survey (random sampling, online survey), we found that less than 3% of the respondents had any past experience of offshoring legal services. In the second part of our survey, we actively sought out lawyers who had offshored; to solicit their views.
The results were collected, collated and cleaned to eliminate unanswered or incomplete questions. We performed the analysis of the responses and prepared this report.
Key Topics Covered:
- 1 Executive Summary
- 2 Low Perceived Benefits of Offshoring
- 3 What Law Firms Are Worried About?
- 4 How Law Firms Select Suppliers?
- 5 Most Popular Services
- 6 About ValueNotes
- Exhibits
- Exhibit 1: Survey respondents – size (in terms of manpower strength)
- Exhibit 2: Survey respondents – size (in terms of revenues)
- Exhibit 3: Do you offshore legal services?
- Exhibit 4: Reasons for not offshoring
- Exhibit 5: Analysis of the ‘Not Required’ group
- Exhibit 6: Analysis of ‘Don’t Know’ group
- Exhibit 7: Cost pressure is the primary driver for all firms
- Exhibit 8: Drivers for larger firms
- Exhibit 9: Drivers for mid-sized firms
- Exhibit 10: Drivers for smaller firms
- Exhibit 11: Data security and quality are the key concerns
- Exhibit 12: Concerns of buyers that do not offshore
- Exhibit 13: Concerns of law firms that are considering offshoring
- Exhibit 14: Concerns of law firms that ‘Tried & Rejected’
- Exhibit 15: Concerns of the ‘Don’t know’ group
- Exhibit 16: Concerns of the ‘Not required’ group
- Exhibit 17: Important factors while selecting a service provider
- Exhibit 18: Propensity to offshore
- Exhibit 19: Popular services to offshore
- Exhibit 20: Services – ‘Considering’, ‘Tried & Rejected’
For more information visit http://www.researchandmarkets.com/research/6377ed/legal_services_out
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