Eversheds celebrates Tyco success as innovative two year contract signed
International law firm Eversheds announced today that it has signed its third groundbreaking contract to advise Tyco on its legal needs across Europe, Middle East and Africa, extending the relationship for a further two years.
Eversheds ongoing partnership with Tyco has set a new standard for the provision of legal services and client relationship excellence across international boundaries, that no other law firm has been able to equal. Going against convention, Eversheds is the only law firm to demonstrate a seamless international client service. Eversheds has advised Tyco on matters across over 80 jurisdictions since the global manufacturing giant reduced its legal panel overnight from 250 firms to one in 2006.
Confounding critics, the new contract is evidence of the success of the innovative partnership, where both businesses have worked collaboratively to constantly evolve working practices to ensure total satisfaction is achieved by both client and law firm.
With an emphasis on transparency, control and metrics, in the last two years, the contract has achieved by way of example, a 27% reduction in fees for Tyco and a reduction in the number of Tyco’s litigation cases by 60%. At the same time, Eversheds increased the proportion of high quality work it services for the client by over 300%, including M&A and IP work, achieving the objective of both parties to deliver an improved and sustainable return on investment for the law firm.
The new contract builds on the principle of an annual fixed fee for all Tyco’s work. With the benefit of two years management information collected through the firms leading edge and award winning Global Account Management System, Eversheds has been able to simplify the latest contract.
Bryan Hughes, Eversheds Chief Executive commented: "Eversheds innovative partnership with Tyco has placed the firm at the forefront of the legal revolution. We are hearing that General Counsel want exactly this type of project management and we get daily enquiries asking how we can deliver quality legal advice for businesses across numerous jurisdictions through one point of contact. We are delighted with the new contract and are committed to continually improve and innovate our services for all our clients".
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