Thomson Reuters

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This analysis of Thomson Reuters is part of our coverage of the world’s 10,000 largest companies.

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Company Description

Thomson Reuters is a global leader in providing news and information-based tools to professionals in the financial, legal, tax and accounting, healthcare, and media markets. Founded in 2008, with headquarters in Toronto, Canada, the company offers a broad range of innovative products and services to customers in more than 100 countries. Their main product and services include financial data and analytics, risk management solutions, legal information and services, tax and accounting solutions, and media and communications solutions. Thomson Reuters provides comprehensive solutions to professionals in the financial, legal, tax and accounting, healthcare, and media markets.

Industry Overview

Thomson Reuters operates in the financial, risk and media industry, which has an estimated total market size of US$88 billion. The company employs over 45,000 people in more than 100 countries around the world. The majority of Thomson Reuters employees are based in North America, Europe and Asia-Pacific. The company offers a range of services and products to its customers, including data, analytics, software and services.

Industry Classification

In terms of formal classification, Platform Executive has tagged Thomson Reuters as a business operating within the Publishing industry.

Major Products & Services

The main products and/or services commercialised by this business include:

  • Market Data & Analytics
  • Financial & Risk Solutions
  • Legal Solutions
  • Tax & Accounting Solutions
  • Intellectual Property & Science Solutions
  • Media Solutions
  • Platform Solutions
  • Professional Services

Table of Contents

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Competitive Landscape

Thomson Reuters operates in a highly competitive environment, with numerous companies vying for dominance in the financial information and news industry. These competitors offer similar products and services, such as market data, analytics, and news coverage, creating intense competition for market share. The industry is also characterised by rapidly changing technologies, making it essential for Thomson Reuters to constantly innovate and stay ahead of the curve. Additionally, with the rise of new digital platforms and social media as sources of financial information, Thomson Reuters faces competition from non-traditional sources. Overall, the competitive landscape is dynamic and challenging, requiring Thomson Reuters to constantly adapt and evolve to maintain its position as a leading provider of financial information.

Key Competitors

We have identified the following organisations as being key competitors:

  • Bloomberg
  • Dow Jones
  • S&P Global
  • FactSet
  • Morningstar
  • Moody's
  • Fitch Ratings
  • IHS Markit
  • Refinitiv
  • LexisNexis

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Key Stakeholders

Stakeholders are individuals or groups affected by a business's actions. Understanding their needs helps a business make decisions that benefit all parties.

Internal and external stakeholders include the following:

1. Customers: Thomson Reuters provides services and solutions to customers from a variety of industries.

2. Partners: Thomson Reuters partners with other corporations and organisations to provide services and solutions to its customers.

3. Employees: Thomson Reuters employs and compensates its employees for their work.

4. Shareholders: Thomson Reuters is owned by its shareholders, who expect the company to generate a return on their investments.

5. Governments: Thomson Reuters must comply with applicable laws and regulations set forth by governments.

6. Suppliers: Thomson Reuters relies on its suppliers to provide materials and services required to operate its business.

7. Media: The media plays an important role in providing information about Thomson Reuters and its activities.

Customers and Cohorts

The main customers of the organisation include:

  • Financial Institutions
  • Law Firms
  • Corporations
  • Governmental Organisations
  • Academic Institutions
  • Professional Services Organisations
  • Media Organisations
  • Tax Professionals
  • Consultants
  • Non-Profit Organisations

Competitive Advantages

Competitive advantages are unique attributes, strategies, resources, or capabilities that allow an organisation to outperform its competitors and achieve superior market position and profitability.

Competitive advantages for the business include the following:

Global Reach: Thomson Reuters operates in over 100 countries, giving it access to a wide range of markets and customers.

Comprehensive Database: The company's vast database of information gives it a competitive advantage over other information providers.

Expert Analysis: Thomson Reuters employs experienced journalists, economists, and strategists to provide expert analysis of the data it collects.

Financial News: The company provides financial news and analysis to its customers, making it a valuable resource for investors.

Platforms: Thomson Reuters offers a range of platforms that provide up-to-date financial information and analysis.

Integration: The company's platforms can be integrated with other systems, allowing customers to access data and analytics quickly and easily.

Innovation: Thomson Reuters is constantly innovating and developing new products and services to meet customer demands.

Market Trends

Market trends can significantly impact an organisation by influencing consumer behavior, altering supply and demand dynamics, and ultimately affecting the organisation’s ability to remain competitive in the market. Staying ahead of these trends enables businesses to proactively adapt their strategies, mitigate risks, and capitalise on emerging opportunities.

As part of this study, we have identified a number of potential trends that could impact the organisation. These include the following:

Market Trends

Key Performance Indicators

Key Performance Indicators
KPIs (Key Performance Indicators) are important to a business such as Thomson Reuters as they help measure progress towards achieving organisational goals and objectives. They provide a useful insight into the performance of different areas of the Thomson Reuters business and therefore enable informed decision-making.

KPIs also help to motivate employees towards achieving targets.

Below is a list of Key Performance Indicators we deem relevant to this company:

Brand Strength

Brand strength is more than a logo or name. It reflects a company’s reputation and how it is perceived by customers, investors, and employees. It is built on core values, mission, and a unique selling proposition (USP) that differentiates the business.

Brand strength goes beyond superficial elements and taps into core values, the defined mission, and unique selling proposition (USP) of a company.

Below are key reasons why brand strength matters:

Trust and Credibility: In a market flooded with choices, customers gravitate toward brands they trust. A strong brand signals reliability and quality, fostering customer loyalty. Loyal customers not only make repeat purchases but also advocate for the brand, driving word-of-mouth growth.

Brand Strength Analysis

Differentiation: A strong brand helps a company stand out in competitive markets by clearly communicating its value proposition. It creates a unique identity, establishes a competitive edge, and positions the company as a leader in its industry. For example, Google is synonymous with internet search.

Customer Loyalty: A positive brand experience builds emotional connections, making customers less price-sensitive and willing to pay a premium. Loyal customers generate repeat business and act as brand ambassadors, reducing customer acquisition costs and boosting long-term profitability.

Talent Acquisition and Retention: A strong brand not only attracts top talent but also enhances employee morale and engagement. Employees who identify with a reputable brand are more motivated, productive, and committed, driving better business outcomes.

Benchmarking Brand Strength

Below is a guide as to the scoring mechanism used to gauge the brand strength of this company:

A

The company enjoys an excellent level of brand strength.

  • This score signifies that the company has developed a highly regarded and well-recognised brand.
  • Customers and the wider community perceive the company as trustworthy, reliable, and superior to competitors.
  • The company enjoys a strong connection with customers, who actively engage with and advocate for the brand.
  • The company's brand effectively communicates its unique value proposition.
  • The corporate attracts and retains top talent, and its reputation extends beyond its target market.
B

The company has a good brand strength, indicating that it has a solid and respectable brand presence.

  • Customers generally have positive perceptions of the company.
  • While the company may not be as distinctive or well-known as the top brands, it still differentiates itself from competitors and enjoys a loyal customer base.
  • The brand inspires some level of customer engagement and advocacy.
  • The company attracts top quality employees and maintains a good reputation. People want to work there.
C

The business has an average brand strength, meaning it is neither strong nor weak in the marketplace.

  • Customers perceive the company as ordinary or run-of-the-mill, lacking an emotional connection or distinctiveness.
  • The company faces challenges in standing out among competitors and needs to better communicate its proposition.
  • Decent level of customer satisfaction, but significant there is room for improvement in terms of brand loyalty.
  • The company's reputation is neither a huge positive, or negative.
D

The company's brand is quite weak. Work required to increase its potential.

  • Customers have mixed or negative perception of the company, associating it with average or below-average quality.
  • The business struggles to differentiate itself from its competitors and lacks a compelling value proposition.
  • Customer engagement and brand loyalty may be minimal, requiring some effort to improve the brand experience.
  • The company's reputation may have encountered challenges, poor press, or may not be well-known in the market.
E

The company's brand is weak and fails to resonate with customers and audiences. This needs to be addressed.

  • Customers perceive the company as being too unreliable, lacking in quality, or irrelevant.
  • The company struggles to differentiate itself from competitors, and there is a lack of customer engagement, or loyalty.
  • The company's reputation may be tarnished or negatively perceived, hindering growth efforts.
  • Significant efforts are required to rebuild the corporate brand and establish a more positive image in the market.
F

The company has a severe lack of brand strength. It is a problem that needs addressing with urgency.

  • The company is poorly recognised, and customers have negative perceptions or zero awareness of its offerings.
  • The company fails to communicate its unique value proposition or inspire customer loyalty.
  • The company's reputation may be highly unfavourable, and attracting customers or top talent is challenging.
  • Immediate and extensive actions are likely necessary to revitalise the brand.

Brand Strength Score

Scoring brand strength is subjective because it relies on individual perceptions and interpretations of various factors, such as customer sentiment, market dynamics, and the competitive landscape, which can vary.

Using our scoring methodology, the average score of a business is calculated as being C (average). This differs from the average score of the top 10,000 businesses featured in our coverage. Weighted to that cohort, the average brand strength score increases to a B (good).

The analysis team have noted the following factors impacting its brand strength:

  • Positive brand recognition in the professional services sector: A
  • Widely respected for its quality and accuracy of its publications: A
  • Established partnerships with other major brands in the industry: A
  • recognised for its customer service: A
  • Strong presence in the financial, legal, and media industries: A
  • High-profile clients in multiple countries: A
  • Brand Strength Score: A

7Ps Marketing Analysis

The 7Ps of marketing are crucial components of strategic decision making for any organisation in any industry vertical.

Using the 7Ps in competitive analysis provides a holistic view of the marketplace, allowing businesses to refine their strategies, capitalise on competitors' weaknesses, and better meet consumer needs. The 7P's are defined as:

  • Product/Service
  • Price/Fee
  • Place/Access
  • Promotion
  • People
  • Physical Evidence
  • Processes

All these elements together frame an organisation's marketing mix, crucial for creating effective marketing strategies.

This 7P analysis is designed to provide a valuable insight into the business strategies of the company. It can be used to reveal strengths and weaknesses in their marketing mix, offering opportunities to compare and enhance a business.

1. Product/Services: Thomson Reuters is a leading provider of business and financial information, data and analytics. Their product portfolio includes news and information services, financial and risk management solutions, legal solutions, tax and accounting software, and research and analysis tools. They also offer professional services such as consulting, training, and advisory services.

2. Price/Fees: Thomson Reuters follows a tiered pricing structure for their products and services, offering various subscription packages for different levels of access and features. They also offer customised pricing for their professional services based on the specific needs of their clients.

3. Place/Access: Thomson Reuters has a global presence with offices in over 100 countries, giving them a wide reach and accessibility for their customers. They also have a strong online presence, making their products and services easily accessible to their clients.

4. Promotion: Thomson Reuters uses a mix of traditional and digital marketing strategies to promote their products and services. They advertise through various channels such as print and online media, events, and sponsorships. They also utilise email marketing, social media, and content marketing to reach their target audience.

5. Physical Evidence: Thomson Reuters has a strong reputation and brand image in the market, with over 160 years of experience in the industry. Their physical evidence includes their well-established brand, high-quality products and services, and a strong network of industry experts and professionals.

6. Processes: Thomson Reuters has a streamlined process for delivering their products and services to their clients. They use advanced technology and data management systems to ensure efficient and timely delivery of information, and have a dedicated customer service team to assist with any queries or issues.

7. People: Thomson Reuters has a diverse team of experts and professionals who are knowledgeable and experienced in their respective fields. They also have a strong network of partners and industry experts who contribute to the development and delivery of their products and services.

Potential Products

As part of this study, we have carefully examined and prognosticated a range of new products, services, or innovations that this organisation could potentially develop and introduce to strengthen its market position and respond to emerging industry trends.

Customised news services: Thomson Reuters could create a personalised news service that delivers tailored content to subscribers based on their interests and preferences.

Analytics tools: Thomson Reuters could create analytics tools to help customers analyse data and make informed decisions.

Online learning portal: Thomson Reuters could create an online learning portal where customers can access training and educational material.

Professional support services: Thomson Reuters could create a professional support service that provides customers with access to expertise and advice from experts in the field.

Cloud-based data storage: Thomson Reuters could create a cloud-based data storage platform to help customers store and manage their information in a secure and efficient manner.

AI-powered decision making: Thomson Reuters could create AI-powered decision-making tools to help customers make better decisions faster.

Risk management solutions: Thomson Reuters could create risk management solutions to help customers identify and mitigate potential risks.

Potential Synergies

Our proprietary product and portfolio-matching algorithm has identified the following organisations as having strong potential synergies with the company, based on strategic alignment, complementary capabilities, and opportunities for collaboration across markets or domains.

1. Bloomberg
2. Microsoft
3. Google
4. IBM
5. Oracle
6. Deloitte
7. KPMG
8. PwC
9. Accenture
10. McKinsey & Company

Porter's Five Forces

Developed by Michael Porter in 1979, Porter’s Five Forces is a model used to analyse industry attractiveness and evaluate competitive environments. It considers five forces:

  • Competitive rivalry
  • Supplier power
  • Buyer power
  • Threat of substitution
  • Threat of new entries

We include this framework because it supports strategic planning, investment decision-making, and long-term competitive positioning across industries by highlighting structural pressures, market threats, and potential profit constraints.

The Porters 5 forces for Thomson Reuters are:

1. Supplier Power: STRONG

2. Buyer Power: STRONG

3. Threat of New Entrants: STRONG

4. Threat of Substitutes: STRONG

5. Competitive Rivalry: STRONG

The company scores strongly in all five forces, indicating a very competitive market.

PESTLE Analysis

A PESTLE analysis is used to evaluate external factors affecting an organisation. It examines (1) Political; (2) Economic; (3) Social; (4) Technological; (5) Legal; and (6) Environmental influences. This framework helps businesses identify potential risks and opportunities in the macro-environment, supporting informed decision-making, strategic planning, and long-term sustainability in dynamic markets.

Reasons to use a PESTLE include:

  • Environmental Scanning: PESTLE helps assess external factors, keeping executives aware of key forces
  • Strategic Planning: It identifies opportunities and threats, aiding market alignment and goal-setting
  • Risk Assessment: PESTLE highlights risks, helping businesses develop mitigation strategies
  • Market Insights: It provides insights into trends, behavior, and regulations for better strategy development
  • Business Adaptation: Regular analysis allows businesses to stay competitive by adapting to changes

Below is the PESTLE analysis for this company:

PESTLE Analysis: political, economic, social, technological, legal, environmental

CATWOE Analysis

CATWOE

The CATWOE analysis helps businesses understand stakeholders' perspectives for informed decision-making, covering six elements:

  • Customers: Beneficiaries of the system’s outputs
  • Actors: Those who influence the system’s functionality
  • Transformation: Converting inputs into value-creating outputs
  • World View: The broader context behind the system’s existence
  • Owner: Decision-makers with authority over the system
  • Environment: External factors impacting the system

The CATWOE analysis is most effective when used alongside a SWOT analysis.

SWOT Analysis

This SWOT analysis is a strategic planning tool used to assess the strengths, weaknesses, opportunities and threats of the Thomson Reuters business.

When creating this SWOT the team at Platform Executive have taken into consideration the corporate strategy; brand; key financials; the competitive landscape; along with the products and/or services offered.

To offer increased context for future innovation and product development we also consider the historical context for the business and industry; and perceived direction of travel.

Upon researching the company, we have uncovered a number of strategic and operational strengths, weaknesses, opportunities and threats.

SWOT Analysis: strengths, weaknesses, opportunities, threats

Strengths

The strengths of a company refer to its internal attributes or capabilities that provide it with a competitive advantage.

Below is a list of the key strengths we have identified for the business:

1. Thomson Reuters has a long history of providing accurate and timely information to its customers. This has allowed the company to build a strong reputation as a reliable source of information.

2. Thomson Reuters has a vast array of products and services that cater to the needs of a wide range of customers. This provides the company with a significant competitive advantage.

3. Thomson Reuters has a strong global presence, with operations in over 100 countries. This gives the company a significant reach and allows it to tap into new markets.

4. Thomson Reuters has a strong financial position, with a strong balance sheet and a strong cash flow. This gives the company the resources it needs to invest in new products and services and to continue to grow.

Opportunities

Opportunities refer to factors that present potential avenues for growth, advantage, or improvement for an organisation.

Below is a list of opportunities we have identified for the business:

1. Leverage Thomson Reuters’ global presence and expertise to expand the breadth and depth of its services. This could include expanding into new markets, such as emerging markets, or providing more specialised services in existing markets.

2. Enhance the customer experience by developing data-driven insights, as well as incorporating artificial intelligence and machine learning technologies. This will enable Thomson Reuters to remain competitive in an increasingly digital and data-driven world.

3. Focus on product and service innovation to stay ahead of the competition. Investing in research and development initiatives, such as new products and services, will ensure that the company remains on the cutting edge.

4. Strengthen its partnerships with government agencies, multinational corporations, and other organisations to gain access to new markets and opportunities. This will help Thomson Reuters maintain its dominant position in the market and create new revenue streams.

Weaknesses

The weaknesses refer to factors that hinder a company's performance or competitive advantage.

Below is a list of the weaknesses we have identified for the business:

1. Lack of customer focus – Thomson Reuters has been criticised for being too internally focused and not paying enough attention to the needs of its customers.

2. Lack of innovation – Thomson Reuters has been accused of being slow to innovate and of failing to keep up with the latest changes in technology.

3. Inflexible business model – Thomson Reuters has been criticised for being too reliant on its traditional subscription-based business model, which is becoming increasingly outdated in the digital age.

4. Poor communication – Thomson Reuters has been criticised for poor communication both internally and externally, which has led to confusion and frustration among employees and customers alike.

Threats

The threats to an organisation refer to factors that pose challenges or risks to a company's success.

Below is a list of the threats we have identified for the business:

1. Increased competition - With the introduction of new competitors in the market, Thomson Reuters faces a threat of decreased market share. To counter this, the company must continue to innovate and offer customers more value for their money.

2. Disruptive technology – The emergence of new technologies has changed the way people access, process and use information. Thomson Reuters must ensure that its products remain competitive in the face of new technologies, while at the same time finding ways to incorporate the new technologies into its products and services.

3. Regulatory changes – Regulatory changes have the potential to significantly impact Thomson Reuters’ bottom line. The company must be aware of the constantly changing regulatory landscape and be prepared to make the necessary adjustments to its products and services.

4. Cybersecurity threats – As an information provider, Thomson Reuters is a target for cyber attacks. The company must take steps to ensure that its systems are secure and that its customers’ data is protected from malicious actors.

5C Analysis

The 5C Analysis is a marketing framework that can be used to provide insight into the key drivers of success, as well as the risk exposure to various environmental factors.

This (concise) 5C analysis examines the external and internal environment for Thomson Reuters. It includes analysing the company's customers, competitors, collaborators, context, and capabilities. We have produced this short analysis to identify potential opportunities and threats to Thomson Reuters, as well as areas where the company needs to improve its operations or strategy.
Company: Thomson Reuters is a leading provider of information and news for professional markets, which include financial services, legal, tax and accounting, scientific, healthcare and media. They have been around for more than a century and have offices in more than 100 countries.

Collaborators: Thomson Reuters partners with many other organisations to help provide their customers with the best services and solutions. These organisations include universities, media companies, research businesses, technology providers, and data and analytics companies.

Customers: Thomson Reuters’ customers include banks, law businesses, investment houses, media companies, healthcare providers, and government agencies. They provide these customers with a range of products and services, including market data, financial analysis tools, news and insights, and legal and tax advice.

Competitors: Thomson Reuters’ competitors include Bloomberg, Dow Jones, FactSet, and S&P Global. These companies provide similar services and products, though they may specialise in different areas or have different pricing models.

Content: Thomson Reuters’ content includes news, financial data, analytics, research, and legal and tax advice. It is focused on providing professional markets with information and insights to help them make better decisions. The company also produces specialised content for different industries, such as healthcare and media.
5C Analysis: company, customers, competition, collaboration, climate

MOST Analysis

MOST Analysis: mission, objectives, strategy, tactics

The MOST analysis framework is used to identify an organisation's strategic goals, assess its strengths and weaknesses, and develop a plan to achieve its objectives. The MOST analysis helps executives focus on what they want to achieve and how to achieve it, while also identifying potential roadblocks or obstacles.

  • Mission defines the organisations purpose and core values, providing a clear direction and inspiration for stakeholders
  • Objectives are specific, measurable targets that support the mission; they indicate what the organisation aims to achieve within a defined timeframe
  • Strategy outlines the high-level approach the organisation will undertake to reach its objectives, detailing how resources will be allocated and initiatives prioritised
  • Tactics are the actionable steps and specific plans that implement the strategy, ensuring that all team members understand their roles in achieving objectives

We have created this analysis from a 3rd person perspective.

Innovation Scorecard

The team at Platform Executive assesses and then benchmarks businesses and the industry verticals in which they operate using a proprietary scoring mechanism designed to benchmark innovation.

First, we allocate a score of A-E for the industry, based on the key organisations operating within the space; and then score the individual organisation using a 1-5 score.

A score of D-E within an industry means that it is potentially ripe to be disrupted by a new entrant; and/or vulnerable to technological change.

Likewise, a high score of 4-5 for the company in question indicates that it lags behind notable businesses in terms of innovation and product pipeline.

Below is a guide to each score:

Innovation Scorecard

Industry Score:

A The industry is amongst the most innovative; with the leading players all driving the sector forward.
Example industry: PaaS
B The industry and its leading players have a good track record of innovation; and can quickly react to change.
Example industry: Pharmaceutical
C Companies operating within the sector have adequate levels of innovation; and engage in R&D activities when appropriate.
Example industry: FMCG
DBusinesses operating in the industry do not invest enough time and resource into innovation. The sector is stagnant and a good candidate for disruption.
Example industry: Retail Banking
E The major players in the sector seem to lack suitable product development roadmaps; and as a result the sector is highly vulnerable to industry change.
Example industry: Publishing

 

Company Score:

1 The business is amongst the leading players in terms innovation and product pipeline. This will fulfil and reinforce the operations of the business in the medium to long-term.
2 The business has a good track record of innovation, in terms of its products and/or its business model. It is therefore more likely to be able to react and adapt to any changes to the industry.
3 The business is deemed to have an adequate innovation plan, build on research and development and sustainability where appropriate. The business has a product development strategy.
4The business needs to invest more resource and/or intellectual capital in product development, pipelines and/or its business model. The business is at risk of stagnation.
5 The business seems to lack a suitable product development roadmap; and as a result is vulnerable to any notable industry change and/or new entrants in the marketplace.
The team at Platform Executive has judged Thomson Reuters as having an innovation score of D2.

Appendices

The appendices section of this report contains supplementary information that we deem helpful in providing a more comprehensive understanding of the report.

Methodology

This study on Thomson Reuters forms part of our series of competitive intelligence reports, which focuses on 10,000 of the largest corporates.

The report is based on information and learning from the following sources:

  • Corporate websites
  • Proprietary research databases
  • SEC Filings
  • Corporate press releases
  • News articles
  • Financial data API's
  • Product-matching algorithm

Further Reading

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Disclaimer

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Reproduction of the content produced in this report is prohibited without the prior permission of the publisher, Platform Executive Pty Ltd.

The facts of this report have been gathered in good faith from both primary and secondary sources. It is believed to be correct at the time of publication, but cannot be guaranteed. As such Platform Executive can accept no liability whatever for actions taken based on any information that may subsequently prove to be incorrect.

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