The practice of outsourcing certain aspects of legal work by law firms, in-house counsels, and individual attorneys existed for decades. It took years to shape into a formal industry and to be christened Alternative Legal Service Providers.
Despite the not-so-clear path it traversed, the ALSP industry has evolved into a $15.8 billion market today. This fact was further reiterated by Thomson Reuters’ Alternative Legal Service Providers 2021 Report, which unveiled that nearly 79% of law firms and over 71% of corporate law departments are leveraging the services of ALSPs.
What’s more promising as an industry is that it is predicted to grow at a CAGR of 8.4% and reach $25.7 billion by 2028. The growth simply signifies the unassailable role of ALSPs in the legal industry.
ALSP is considered a mature industry today. It wasn’t the case in its early stages. Lack of clarity on what services constitute alternative legal services attributed to the uncertainty. However, constant experimenting by the service providers has enabled it as a well-established industry. Today’s alternative legal services comprise:
- Contract Management
- Managed Document Review
- E-discovery
- Contract Lawyer and Staffing
- Legal Word Processing
- Litigation and Investigation support
- Legal Research
- M&A Due Diligence
- Intellectual Property management
Cenza as an Alternative Legal Service Provider
It is two decades since Cenza started supporting legal professionals from Corporate law departments and in-house counsels with their time- and labor-intensive tasks.
We have been traveling along the path that ALSP was on, making credible contributions to the industry. Our experts and their expertise have enabled our customers to lower the time and cost involved yet evidently improve their productivity and efficiency, a perfect combination for business success.
Today, Cenza is identified as a trustworthy partner for legal professionals across the world, owing to our:
- Agile team with a focus on scaling expertise
- Total transparency in the process
- Unrelenting commitment to delivering the best
- Complete conformance with customer needs
What started as an extended team of law firms has now evolved to cater to everything related to legal. While we continue to offer our conventional legal process outsourcing services for law firms, the time has necessitated our evolution to be relevant in the digital age.
This awakening brought new services to support in-house counsels to embrace technology for better business benefits. With this, we expanded our services to encompass the entire realm of digital contracting, which has broadened our horizon to include services dedicated to legal AI/ML platforms.
Our services are classified as follows:
Cenza offers value-added services for legal firms, corporate law departments, in-house counsels, and legal tech companies on a constant growth path by reinventing its services which become the cornerstone of success for our customers and the industry at large.
If any of our services strike a chord with you, connect us. Together, we could bring a breakthrough in the ALSP domain.
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About the Author: Raja
