COLOMBO (EconomyNext) – Eagle Proprietary Investments Limited (EPIL), a Dubai-based investment firm has set up a legal outsourcing company in Sri Lanka, in what a senior official said was the high-end of the Business Process Outsourcing (BPO) market.
Ironwood Legal Solutions (Pvt) Limited (ILS) signed an agreement with the Board of Investment (BOI) as the first BOI-approved Legal Process Outsourcing (LPO) company in Sri Lanka, a statement said.
Ironwood Legal has been launched with an anchor client in the United States and will provide "e-discovery and litigation support services" to law firms and legal departments of U.S. and U.K.-based Fortune 500 companies, the BOI said.
Ravi Abeysuriya, Director and Chief Executive of Candor Group, a subsidiary of EPIL, who helped set up the ILS, said it will use Attorneys-At-Law with a degree in law in Sri Lanka
"We facilitated the setting up of the LPO," he told EconomyNext.com.
"I encouraged our parent to start an LPO because of the huge opportunity available – our having LLB-qualified graduates, the type of people can get good employment in LPOs, where we can match supply with demand.
"This is the high-end of the BPO business, called KPO (Knowledge process Outsourcing)."
Abeysuriya, former Managing Director of Copal Amba, said that Sri Lanka is fast emerging as one of the world’s leading IT-BPO destinations, particularly in the Knowledge Process Outsourcing (KPO) space.
"Sri Lanka offers world-class talent that is highly adaptable, English speaking and with strong work ethics.”
The LPO industry has historically been dominant in countries like India, Philippines, Latin America and parts of Eastern Europe, he said.