Tata Chemicals Europe (TCE) has launched its first panel review in an attempt to get better vaue from its external spend.

The biotech company is a subsidiary of Indian chemicals giant Tata Chemicals, based in Mumbai. 

The panel will run for three years but will be “continually reviewed” on the quality, service and costs of external firms, said a spokesperson.

TCE general counsel Phil Davies said the company had used external law firms for a number of years but had no formal panel arrangement.

Davies will consider both boutique and global law firms for its new roster, he said, adding he used an external provider named GC Hub to run the review.

“The panel process is not a one-off exercise. Once we have set up the panel we will be using GC Hub to manage the ongoing operation of the panel over its three-year term to keep quality, service and costs under review,” Davies said.

The panel review launched in October with the final lineup due to be announced in December.