The Big Four are coming for us law firm folks.
“KPMG’s legal services division revenue rose by more than 30 percent in 2018 in a record-setting performance, according to the firm that expects growth to continue in a burgeoning market that’s stoking concerns among traditional law firms about potential competition.”
Now I know all of us in the US legal market have been relying on those regulations and state rules mentioned in the article below, that forbid them from opening an actual law firm and representing clients domestically. But, as the legal services areas of these organizations grow and start combining with audit, accounting, investigations, etc. I would not be surprised if all of us are dealing with them as an outpost of our clients legal department. Instead of talking to a GC, we’ll be talking to the legal services area of a Big Four firm about eDiscovery and Analytics. And, based on my past experience with those firms as our customer, I would hazard a guess that the law firms that wind up working with them as the legal department for their clients should probably get their stuff together.
Your clients aren’t paying them to simply hand over “everything” and let outside counsel take care of it. You’re going to need to bring much, much more to the table.