Ten For 2010: Top Ten Trends for Legal Outsourcing in 2010
Industry leaders not only adapt to change but also use change to their advantage.
The profoundly changing legal landscape for the coming year is upon us. Successful law firms and corporate counsels will recognize these trends and develop organizationonal strategies to not only adjust to change, but thrive in the midst of it.
In a changing and dynamic legal industry, firms who understand these emerging trends will be able to leverage the full value of their outside legal and litigation support vendors.
As an increasing number of legal professionals augment their staff with legal outsourcing vendors, recognizing and acting on the leading trends for outsourced legal services is more important than ever.
To download the complete 2010 trending report, please click here. The Top 10 Trends for Legal Outsourcing in 2010 are, in brief:
- 1) A dynamic legal landscape. Economic pressures and the changing regulatory environment will continue to put pressure on organizations to turn to outside vendors.
- 2) Alternative legal delivery. Traditional delivery of legal services are unbundled allowing firms to offer clients new, streamlined services and create greater efficiencies.
- 3) Shift in focus. Legal organizations will take a more strategic approach to their outsourcing arrangements as opposed to an ad hoc, cost‐focused approach.
- 4) Expanded work flow. Projected increases in litigation and rising economic activity will prompt organizations to source more work to LPO vendors.
- 5) A proving opportunity. In 2009, legal outsourcing caught the media limelight. 2010 will be the acid test for the legal outsourcing industry, when it must prove its value to new consumers.
- 6) Engagement structures. For 2010, the primary avenue for law firms and corporate legal teams to participate in outsourcing arrangements will be through third‐party vendors and virtual captives.
- 7) Emerging sourcing destinations. The leading LPO location India, will face competition from emerging nations like South Africa and the Philippines.
- 8) Dynamic vendor landscape. Increased competition as traditional business process outsourcing (BPO) providers ramp up their LPO capacity. Mid‐size LPO providers face a choice between consolidation and specialisation.
- 9) Talent Development and Migration. As legal outsourcing vendors gain prominence in 2010, they will have much greater access to talent as more lawyers consider outsourcing as a genuine career path.
- 10) Industry Transparency. 2010 will mark an increased focus on transparency that will result in more efficient markets and credibility of legal outsourcing initiatives for both buyers and vendors.
More in depth discussion industry trending is also available in Fronterion’s leading publication entitled Implementing a Successful Legal Outsourcing Engagement.
About Fronterion: As the leading international management consultancy advising law firms and corporate counsels on outsourcing options, Fronterion is in a unique position to comment on the industry and forthcoming industry trending. Fronterion clients, primarily based in the US and UK, include a variety of sizes and practice specialties. As the first organization to bring a highly structured approach to the assessment of offshore legal outsourcing vendors, Fronterion has helped clients tackle an array of outsourcing challenges and achieve transformational benefits through outsourced legal services. A strict adherence to independence from vendor firms ensures Fronterion’s objectivity in all client reporting.
For more information about Fronterion contact mediarelations@fronterion.com or +1 (312) 473 - 4887.
PDF Ten For 2010: Top 10 Trends for Legal Outsourcing in 2010
+Ten For 2010. Fronterion LLC. 2009