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Thomson Reuters is working to integrate customer productsm CEO James Smith said week. Smith made the comment during the webcast for earnings for the third quarter ended September 30.

 

He described the effort as a “customer-led approach to building open platforms ….”  Smith did not spell out any specific products or companies involved such integration.

“We are also working with our customers to integrate not only a number of our previously disconnected products but also other tools and databases they need onto our underlying platform,” Smith said.  “The more we can integrate our offerings, the more tools and capabilities we can offer our customers.”

Thomson’s integration efforts is part of a trend in which vendors, who previously did not connect their products with those from other software publishers, have been responding to customer requests to tie systems together.

 For the quarter, the company’s Tax Professionals continued to perform well. Adjusted EITDA for the most recently ended period was $35 million, an increase of 9 percent from a year earlier, down 2 percent in constant currencies.Tax Professional revenue reached $166 million, rising 11 percent from $149 million in last year’s corresponding period; up 10 percent in constant currencies.

Thomson lost $44 million for the quarter, compared to net income of $302 million in last year’s corresponding period. Company revenue for the recently end period was $1.4 billion, up 10 percent from $1.3 billion in the year-earlier quarter.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Wednesday, 06 November 2019
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