Archive for the 'US Recession' Category
US Recession ramifications on the LPO industry
Filed under: India, Legal Process Outsourcing, US Recession | Tags: Asia, India, Legal Process Outsourcing, Legal Services Outsourcing, lpo, outsourcing, US Recession
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Image credit: wallyg on flickr; CC BY-NC-ND
On his blog, Rahul Jindal posts an excerpt from an interview with the SDD Global Chairman Russel Smith.
No one likes a recession, but for quality legal outsourcing providers, it will mean more business, not less. I just got back from a two-month marketing tour of the U.S. and Europe, and one in-house corporate counsel after another told me of the increasing pressure to cut legal budgets. For many, that will mean outsourcing. Recessions and depressions generally don’t reduce the need for legal work, but they do reduce the tolerance for high legal fees. Also, not all industries suffer during downturns. Many of our clients are media and entertainment companies, and that’s a field that’s almost recession-proof. When times are tough, and people don’t have jobs, the demand for movies and television programming often goes up, not down. It’s partly escapism, but also an increase in free time.
This is an interesting observation. Allaying the fears of a global recession, Mr. Smith blithely dispels the myth of a fast-decoupling US economy.
The whole world watches as the titans clash in the primaries of the US elections. Most of us who have been following the elections know well enough that this year, the primaries would be the most significant part of the election process. The Democrats are in control of the US Congress, a Democratic victory in the presidential elections seems imminent, and the Outsourcing industry is in for a radical overhaul.
