Reuters is looking beyond its panel to find a firm for a one-off outsourcing deal.
The company has put the work out to tender to a number of regional firms in the UK, which could soon find themselves sharing a client with firms such as Allen & Overy, Clifford Chance and Slaughter and May. The newswire and financial information provider is undertaking an exercise to consolidate all information about supply contracts in a single database. The resource would house all details relevant to around 15,000 supply contracts, including lease agreements, consulting arrangements and software and hardware suppliers. Senior vice president Andrew McLean, who has responsibility for content acquisition, said: "We consider that it would not be cost effective to use a big New York or London firm. So we're going to look at some regional firms in the UK, US and Australasia." The work is not dependent on geography so Reuters has an entirely free rein when it comes to choosing a firm. The firms Reuters will invite to bid for the contract will be familiar to the company, possibly through referral relations hips with panel firms. McLean hinted he had heard of a good Bristol firm through a London contact which could be in the running. A Kansas City firm is also thought to be a favourite, based on historical ties with some of the US in-house team. Firms situated in Australia and New Zealand are understood to appeal, partly as a result of the dollar's strength against the Pacific currencies.