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Have you outsourced your document review, due diligence, compliance paperwork, or other repetitive tasks that make you want to slam your face through a plate glass window?
Depending on who you ask, legal process outsourcing (LPO) is either growing, or stagnating. A survey late last year claimed that LPO growth had slowed, and while LPO revenues exceeded $1 billion in 2012, that was far less than the $2.4 billion that had been expected.
Yesterday, a different survey was released, and it painted a slightly sunnier picture for LPO providers, with 80 percent of in-house counsel respondents saying that they expected the LPO industry to expand and improve its services over the next five years.
The Dewey B. Strategic blog, last October, related the findings of an American Lawyer Media (ALM) survey that showed waning interest in outsourcing amongst GCs. Amongst the notable findings were:
Dewey B. Strategic calls it the "tidal wave that wasn't."
Compare those findings with a Legal Business/Clutch Group survey, released yesterday, which made these findings:
Together, the findings present a much rosier picture for LPO demand than the ALM survey.
The differences in the studies are interesting. ALM's findings point to an industry that peaked, and is used as a source of cheap doc. review and ediscovery, when quality isn't a priority. The Legal Business/Clutch survey points to a booming market.
How does one explain the difference? We're not quite sure, but it is interesting to note that Clutch is a "team of legal, technology and process experts," while ALM is a legal media company.
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