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'Lanka could be a premium LPO destination'

Sri Lanka has the capacity to be a premium Legal Process Outsourcing (LPO) destination due to its vast potential and human resources it has USA based Attorney-at-Law and Professor of Legal Studies, Rafael Brown told guests at the launch of Sri Lanka's first LPO educational program conducted by Vezarto LPO Academy at the BMICH last week.

Prof. Brown said that LPO has the potential to be the third largest foreign exchange earner for the country adding value to human capital. The global LPO is a multi-million dollar industry with many countries operating back offices.

"We need to focus on the economic benefits of developing LPOs in the country. Sri Lanka's strategic location and skilled workforce with English literacy skills could be a leading outsourcing destination," he said. Legal process outsourcing is the practice of a law firm or corporation obtaining legal support services from an outside law firm or legal support services company, the LPO provider.

The most commonly offered services are agency work, document review, legal research and writing, drafting of pleadings and briefs and patent services.

The key benefit of outsourcing is the cost saving factor. Companies obtain support services from a outside firms to save on the cost it would incur in its own country. Corporates in the USA and the UK outsource work to other countries since it is cheaper.

Sri Lanka and India are outsourcing destinations. Currently around 12 LPOs operate in the country. Sri Lanka’s Business Process Outsourcing, now termed as Knowledge Process Outsourcing is a growing industry with an annual revenue of a round US$ 700 million. Director, Vezarto Legal Consultants, Attorney-at-Law Sanjeewa Dasanayake said LPO is a novel concept to Sri Lanka but it has huge capacity to be a vibrant export industry bringing in the much needed foreign exchange to the country.

“As a home grown LPO firm, Vezarto has strived to become a premium LPO in the world during the past two years. However, the lack of trained personnel in the LPO field is a major drawback to get on to the next level of growth,” Dasanayake said.

Vezarto has commenced enrolling students for the first batch of the LPO course which will be conducted at the BMICH.

- LF

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