Skip to content

Thomson Reuters Product Announcement Signals ‘New World’ Strategy

February 3, 2013

On the face of it, the three announcements made last week by Thomson Reuters were not particularly strategic. However looking a little closer, listening to comments by its management team and reading some of the accompanying text in the press releases and a clear modern strategy emerges.

First the three product announcements:

Thomson Reuters Concourse  – comes in two flavours; one for the corporate legal department and one for government legal departments. An integrated suite of products, some existing and some new – characterised as matter centric, cloud based and mobility savvy.

Thomson Reuters Firm Centric – aimed at the solo practitioner and small firm market, also cloud based, an integrated, matter centric suite of products with in built mobility it offers SaaS pricing per seat.

Thomson Reuters Hosted Practice Technology – is effectively moving the existing Case Notebook and Case Logistix products into the cloud although software versions are still available.

Now adding comments from TR Legal president Mike  Suchsland  –

 “Our long term vision is not about legal content, it’s about software and solutions…… We are still committed to legal research but now linked to workflow and integrated to solutions. In five years time we’ll be more of a software company than an information company.”

 Some introductory text in the press release documentation

 ” integration, mobility and convergence of content, software and ‘know-how’ define new class of solutions”

Add further comments about their intention to build jurisdiction specific data centres around the world and what is the picture that is formed:

 A strategy that includes as a minimum:

  1.  A shift in focus to the tools from the information – “ more of a software company than an information company”
  2. Bringing together their range of products into suites – integrated products rather than best of breed or mix and match.
  3. The Cloud – SaaS across the board.
  4. Mobility – obviously the cloud makes this easier but as lawyers increasingly work wherever they are whenever they want, then easy and secure mobility is key – TR has mobility at the heart of everything they do.

Comment

Personally I love integrated suites rather than best of breed – if you lose 5% of functionality you will gain hugely in the cost, time and risk in both implementation and support. See some other posts for my view of mobility – lawyers are mobile then IT has to support them! And cloud – the benefits are so compelling that the day when the avalanche towards the cloud starts is getting ever closer.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: