Innovation is at the heart of all business models. Whether it is e-commerce, legal process outsourcing (LPO), knowledge process outsourcing (KPO) or any other form of business activity, innovation is a necessity to sustain business growth and to remain in the industry. At Perry4Law Organisation (P4LO) we have stressed upon this requirement in the year 2011 itself.
Indian outsourcing industry is currently passing through turbulent times. There are many factors that are responsible for this situation in India. These include tightening of the visa norms by foreign countries, emergence of alternative labour forces in other countries, increased use of information and communication technology (ICT) and automation system for outsourced businesses, etc.
Innovation can help the LPO and KPO industry of India. LPO and KPO industry of India is still maturing but the challenges for it in future are very diverse in nature. LPO and KPO service providers of India must keep their KPO services flexible, innovative and contemporary. P4LO has been working on this philosophy for almost a decade. We have been providing techno legal services in the fields like cyber law, cyber security, cyber forensics, e-discovery, e-courts, e-commerce, e-governance, online dispute resolution (ODR), etc that no other LPO and KPO services providers is providing as on date.
The growth of India's outsourcing industry has reduced from 20% in the year 2000 to 12% in the year 2016-17. This is further going to decrease in the coming years due to non availability of on site workforce option to the outsourcing industry. The industry has based its growth on the ability to remotely deliver software services to clients and use a small number of employees on site to help customers roll out the software and systems they have built. The changed visa norms have toppled down the outsourcing industry of India for the time being.
The Indian outsourcing industry needs to transform itself before it is too late. Companies are already racing to keep pace with these changes and many are focusing on implementation of non-linear initiatives using automation and software platforms, by enabling its clients to digitise their processes and by incubating disruptive solutions internally and by partnering with startups externally.
Innovative solutions like e-courts, ODR mechanisms, etc can be specifically beneficial for LPO and legal KPO industry of India. Indian LPO and legal KPO industry also needs to be well versed with latest technology related issues of cyber law, cyber security, cyber forensics, e-discovery, bitcoins, cloud computing, e-commerce, etc. For instance, the cyber security obligations of directors of Indian companies and law firms operating in India have tremendously increased. However, there are only handful of law firms in India that can manage cyber security legal issues. These numbers decrease further where complicated international legal issues of cyber security and conflict of laws in cyberspace are involved.
Only those LPO and legal KPO service providers in India and other jurisdictions would survive would could handle the techno legal issues of contemporary times. Adaptability and innovation is the key for long term sustainability in this cut throat competition world.