Accenture is to finalise its Asia Pacific panel in the coming weeks as the company prepares to kick off a tender process for Europe in early 2015.

The IT consulting group is creating a preferred supplier list for the two regions in line with global ambitions to develop strategic, long term relationships with its external law firms.

In the last 18 months it has established panels for the US and Canada, and the UK and Ireland, and is also understood to have appointed three global firms to advise on cross border deals. The APAC panel is expected to be in place for January.

"One of the things that Accenture has been working on since our new general counsel started [in 2010] is ensuring the right legal representative is at the table for each and every deal," said Julia Shepta, managing director for contracting in South Asia.

"We've gradually been rolling [the panels] out. Costs and added services were an element, but it was more around the importance they place on understanding a client's business, the way they develop individuals in their teams. We're looking at this as a very long term relationship. So we're looking at firms who are going to develop their business in a way that meets our needs in the future."

The tender process in Asia has occurred over the last six months, she added, including a request for information (RFI) and subsequent request for proposal (RFP), with shortlisted firms interviewed early November.

Each firm was required to detail their capabilities in three key areas: litigation; complex contracting or client-facing work; and compliance, regulatory and employment (CORE).

When finalised the panels will be subdivided regionally, with four lists for Japan, Greater China – including China, Hong Kong and Taiwan – ASEAN, and New Zealand and Australia.

Each region will have less than 10 panel firms, including a mix of local and international outfits with some appearing more than once across the region.

Shepta added that Accenture was looking to have as few firms as possible and was eyeing long term relationships, which would be subject to ongoing evaluation rather than another formal panel review in the near term. The bidding process for Europe will begin early next year.

"The vision of the European panel is much the same as what we've been working towards here," she said. "So building strategic relationships and investing in those relationships with a view to long term partnership arrangements with the firms."