Page 184 - 2019 - Leaders in Legal Business (n)
P. 184
6. Scale — The Big 4 have presence in almost every country where there is
business conducted by multi-nationals. They can reach a scale that few other
providers can compare with. They seem to have connections to experts on every
topic of interest to their corporate clients, whether internally within their own
employee base, or within an intricate and powerful network of related entities and
affiliates.
7. Quality and Reputation — There is an undeniable trust that comes with the Big
4, which is why so many large corporations choose to use them for broad ranges of
services. That umbrella of trust seems to cover all the work they do, even in areas
that are new to these providers. There is history of high quality, and there are widely
accepted expectations of continued quality work from the Big 4. There is little
doubt or uncertainty in their ability to deliver on their promises.
8. Technology — The Big 4 know how to invest in technology. They have sizeable
R&D departments and are comfortable setting aside resources for the benefit of
their future. They have been around a long time and continue to evolve by keeping
up with technology advances. They are certainly interested in legal tech, and with
their ability to scale and investment resources, will have an easy time catching up
to anything that is leading the market, and likely become the industry leader
themselves. Those are baskets that many clients would be comfortable placing their
eggs in!
9. Predicable Pricing — These are not low-cost service providers, but neither are
law firms. One thing the Big 4 has, however, is predictability on pricing. Long gone
are their days of pricing by the hour (at least in the Big 4’s world), and instead fixed
fees based on the project scope are the norm. More importantly, the Big 4 are
accustomed to helping clients define the scope of work during the process and will
adjust their pricing accordingly.
10. Sheer Size and Locations — The Big 4 have what seems to be an unlimited
number of people located in the most remote corners of the world. It feels like there
is no place in the world where they don’t have a presence and no end to the
availability of people to put on the task. There is nothing more frustrating than
hearing from a service provider that they don’t have the people available when you
need them. The Big 4 always have people available.
These are some of the attributes that make me confident about the Big 4 expanding into
legal services. There is no question about their potential in this space, and it only makes sense that
the law firms and “not-so-alternative anymore” providers would be watching closely and learning.
Indeed, as I reflect on this list, I have to ask, why would a corporate legal department hire anyone
else for certain work that is not worthy of law firm rates and is more complex than what the “not-
so-alternative” provides deliver today?
169
business conducted by multi-nationals. They can reach a scale that few other
providers can compare with. They seem to have connections to experts on every
topic of interest to their corporate clients, whether internally within their own
employee base, or within an intricate and powerful network of related entities and
affiliates.
7. Quality and Reputation — There is an undeniable trust that comes with the Big
4, which is why so many large corporations choose to use them for broad ranges of
services. That umbrella of trust seems to cover all the work they do, even in areas
that are new to these providers. There is history of high quality, and there are widely
accepted expectations of continued quality work from the Big 4. There is little
doubt or uncertainty in their ability to deliver on their promises.
8. Technology — The Big 4 know how to invest in technology. They have sizeable
R&D departments and are comfortable setting aside resources for the benefit of
their future. They have been around a long time and continue to evolve by keeping
up with technology advances. They are certainly interested in legal tech, and with
their ability to scale and investment resources, will have an easy time catching up
to anything that is leading the market, and likely become the industry leader
themselves. Those are baskets that many clients would be comfortable placing their
eggs in!
9. Predicable Pricing — These are not low-cost service providers, but neither are
law firms. One thing the Big 4 has, however, is predictability on pricing. Long gone
are their days of pricing by the hour (at least in the Big 4’s world), and instead fixed
fees based on the project scope are the norm. More importantly, the Big 4 are
accustomed to helping clients define the scope of work during the process and will
adjust their pricing accordingly.
10. Sheer Size and Locations — The Big 4 have what seems to be an unlimited
number of people located in the most remote corners of the world. It feels like there
is no place in the world where they don’t have a presence and no end to the
availability of people to put on the task. There is nothing more frustrating than
hearing from a service provider that they don’t have the people available when you
need them. The Big 4 always have people available.
These are some of the attributes that make me confident about the Big 4 expanding into
legal services. There is no question about their potential in this space, and it only makes sense that
the law firms and “not-so-alternative anymore” providers would be watching closely and learning.
Indeed, as I reflect on this list, I have to ask, why would a corporate legal department hire anyone
else for certain work that is not worthy of law firm rates and is more complex than what the “not-
so-alternative” provides deliver today?
169
