Legal and Accounting process outsourcing to grow in a big way

Bangalore, Jan 25 (UNI) After Business Process Outsourcing (BPO) has grown into a giant industry in India, it will be the turn of Law and Accountancy Process Outsourcing (LPO and APO) which is already growing at a fast pace.

This would be a boon for law and accountancy students and professionals in the country, as legal and accounting firms in the United States and the EU needed to offshore most of their Legal and Accounting work. This was in order to reduce costs and focus on their core competencies by leaving back office processes to hands of competent outsourcing agencies.

India can greatly benefit by this development and already, LPO and APO industry was growing by leaps and bounds in India. There were already close to 100 such firms and the number was growing on day-to-day basis, Christina Priyadarshini, founder President of the city-based Script Legal Services said today.

Briefing newspersons on the Global Conference on LPO and APO to be held in the city in the month of May, she said the law firms and CPA firms in the West had evinced keen interest in training the talented knowledge power in India to outsource their work to this country.

"This was the reason we decided to organise the Conference to invite these firms to come to India to explore setting up of back offices in a big way. The firms in Europe, whom we are in touch with have informed that they were ready to train people in India about the legal and accounting processes and set up back offices here," she added.

In the next 15 years, the legal and accountancy process outsourcing business would be a 150 billion US Dollar and India should garner maximum business. The LPO and APO business in India is in its nascent stage and there were many enquires by law firms, CPA firms an Fortune 500 companies for outsourcing their work, S J Padmini, Director of Script Legal said.

UNI