Legal Process Outsourcing Market Procurement Outlook, Procurement Intelligence & Supplier Intelligence, 2020–2025
Legal Process Outsourcing (LPO) Category Intelligence Outsourcing legal services to third-party providers helps law firms to reduce the cost of legal services without compromising on service quality. This allows firms to increase their profit margins and, in turn, offer competitive rates to their clients. However, a rising need for stringent security systems has been observed among both, clients and LPO service providers, to ensure the privacy of client data. Multiple cases of data breaches have been reported in the last 10 to 15 years despite having proper security measures in place. As such, lawyers are highly emphasizing this aspect while evaluating the competence levels of outsourced agencies. For instance, Focused Technologies Imaging Services (FTIS) was awarded a USD 3.45 million contract from New York State in 2008, wherein employees were required to scan the State Division of Criminal Justice Services records, which included sensitive personal information such as f...