LPO ind on fast-track, to provide 30,000 jobs in 1 yr: Pangea3

Leading global legal process outsourcing (LPO) player Pangea3 said that the industry is on the growth fast-track and could provide jobs to 30,000 personnel, double the present level, in the next one year.

"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," Pangea3 Co-Founder Sanjay Kamlani told PTI here.
    
The company, incepted in 2004, is eyeing a 100 per cent 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 per cent growth in revenue over the next year. In line with this, we also plan to scale-up our headcount to 1,000 by Q2, FY'12," he said.
    
The LPO industry has grown phenomenally in the last couple of years and last year, it grew 100 per cent, he said, adding that he expected this trend to continue for the next two years at least.
    
"The legal services industry in the US and UK is $400 billion and only about $1 billion is currently 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 per cent. Besides, the LPOs here are very efficient and provide high-quality 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.