Tuesday, May 17, 2011

TCS LPO:TCS eyes slice of LPO market

TCS eyes slice of legal process outsourcing market:

The country's largest software exporter Tata Consultancy Services may soon join their internal rivals Infosys and Wipro for a part of the billions of legal outsourcing market.

"(The legal process outsourcing segment) seems an interesting ... we are looking at him," said TCS CEO and Managing Director, Mr. N. Chandrasekaran, line of business in a recent interview.

Recruitment

However, no further details of the company's strategy in the future.

The company has already begun on a "small scale" with 2-3 clients and has increased the recruitment, both in India and the United Kingdom, for this practice, said a source familiar with the development. However, TCS will make an announcement of big ticket only when the business reached a considerable scale, the source said.

LPO is a different ball game of the regular work of back-office referred to the practice of a law firm or corporation to obtain legal support services of an outside law firm or legal support services company.

Litigation and business document review, contract management, electronic discovery, legal analysis and preparation of documents are some of the services outsourced to third parties.

TCS has been active in providing technology solutions for law firms worldwide. Earlier this year, the Law Society of England and Wales selected TCS's flagship legal management solution as part of a systems development project.

LPO vendors

The Indian LPO space is dominated by pure-play vendors LPO as Pangea3, CPA Global Unitedlex and Evalueserve. Some of these companies have grown to over 100 percent in recent years largely due to charge a fraction of the $ 150 to 350 per peak hour by counsel in major markets like the U.S. and the United Kingdom.

In fact, LPO was one of the few industries that have a shot in the arm after the 2008 economic crisis and pressure to control costs pushed more work of legal services in the field of third parties.

According to a NASSCOM market intelligence report, the LPO segment is expected to touch 15 billion U.S. dollars in 2015.

Bangalore-based Infosys and Wipro have been actively seeking opportunities in the LPO space for years now.

In June last year, the BPO arm of Wipro won a contract to provide brand LPO and presentation of Microsoft's service records.

TCS business back-office, which includes initiatives LPO, generated revenues of Rs 10,157 crore for the quarter ended March 31.
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