Frank Sheppard talked with Daily Business Review in an article published on December 15, 2021 about the use of regional and mid-sized firms in handling “megamatters.’

A report from Wolters Kluwer’s LegalView Insights analyzed $150 billion in law firm invoices from the company’s e-billing tools, spanning 2015 to 2020, and found that nearly 28% of “megamatters”—those matters that generate more than $1 million in legal spend—went to small and midsize law firms.

Midsized firms looking to attract work typically assigned to Big Law need to invest in security and cost-effective document management.

“Corporate legal departments may have security standards that not all regional firms can match,” said RumbergerKirk managing partner Frank Sheppard. He added that efficient and cost-effective document management is also a necessity for small firms looking to land big jobs.