LPO industry to hire 30,000 personnel in next one year
Monday, 27 September 2010, 14:59 IST   |    3 Comments
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LPO industry to hire 30,000 personnel in next one year
Mumbai: Legal process outsourcing (LPO) the industry is on the fast-track and is likely to hire 30,000 personnel in the next one year, doubling the present level, said leading legal process outsourcing player Pangea3. "The LPO industry is growing phenomenally. It has already provided 15,000 jobs in the last five years and this is set to double in the next one year," said Pangea3 Co-Founder Sanjay Kamlani. The company, founded in 2004, is eyeing a 100 percent growth in revenue over the next year and plans to more than double its headcount this fiscal, Kamlani said. "The growth trend is accelerating. We are on track for a 100 percent growth in revenue over the next year. In line with this, we also plan to scale up our headcount to 1,000 by the second quarter of FY12," he said. The LPO industry has grown phenomenally in the last couple of years. Last year, it grew 100 percent, he said, adding that he expected this trend to continue for the next two years at least. "The legal services industry in the U.S. and UK is $400 billion and only about $1 billion is presently outsourced, indicating the immense potential this segment has," Kamlani said. While Kamlani would not divulge the company's financials, he said that Pangea3 has over 200 regular clients, of which 60 are recurring clients every month. "Our clients are all blue-chips - Wall Street firms and Fortune 100 companies," he said. The company presently has two centres in India - at Mumbai and Noida - and could set up another in a tier-II destination going forward, he said. Asked about the growth drivers for the industry, Kamlani said that outsourcing results in tremendous cost-savings "of anywhere between 60-90 percent. Besides, the LPOs here are very efficient and provide highquality services." On future plans, Kamlani said that Pangea3 plans to acquire more foreign language capabilities and going forward, could set up another centre in another location, such as East Europe.
Source: PTI
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