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CAP Ventures Examines Document Outsourcing in Legal Industry

Thursday, October 09, 2003

Press release from the issuing company

(Norwell,MA)October 8, 2003... In a new white paper by CAP Ventures, analysts take an in-depth look at the current state of the legal market, including corporate legal departments and law firms, and offer insight into how enterprising document outsourcing service providers can capitalize on this industry. The results of the study are available immediately in a white paper entitled The Legal Industry: The Document Outsourcing Opportunity. The legal services industry is rife with opportunity for document outsourcing service providers. This industry has lagged behind other industry segments relative to its adoption of technology and is being driven to more rapid adoption trends by market requirements. Document outsourcing service providers have an opportunity to serve this industry by: • Providing on-site facilities management services, assisting law firms and corporate legal departments to migrate from analog to digital technologies, implementing more effective workflows, better tracking billable costs, and leveraging the power of the Web • Offering standard litigation copying services and advanced litigation support services, as well as on-site courtroom services for complex litigation • Helping corporate legal departments to better manage the expenses associated with outside legal counsel through national contracts for litigation support and other services Key aspects when selling to law firms include creating a presence in the industry via media output, having improved technology as a key focus, and being aware that while law firms are still spending more aggressively on technology than their corporate counsel counterparts, consistency and cost control remains the number one concern. "In an environment where there is increasing competition, many law firms are marketing their services in various types of media," comments Holly Muscolino, a Director at CAP Ventures. "Since most law firms lack marketing expertise, document outsourcing service providers can play an important role in helping firms better communicate with their clients and prospective clients through the creation and distribution of marketing materials, regardless of the medium of communication." CAP Ventures' white paper discusses the scope and the size of the legal services industry, key trends and issues that the industry is facing, key considerations in serving the industry, sales and marketing strategies, and case studies. The case studies included with this brief provide insight about how successful service providers to the legal services industry have capitalized on emerging technologies and full-service strategies to effectively partner with law firms and corporate legal departments. The complete report is available immediately to clients of CAP Ventures' Production Workflow Solutions and On Demand Printing & Publishing Consulting Services. For more information on the report or to make a purchase, please contact Stewart MacDonald at (781) 871-9000, ext. 175 or via e-mail at stewart_macdonald@capv.com.

 

 

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