Thomson Reuters is a global corporation that provides trusted data and information across three main industries: Legal, Tax and Accounting, and News & Media.
The company was formed in 2008 by the merger of The Thomson Corporation and Reuters Group PLC. However the commercial history of both companies extends back for over a century.
Although the concept of ‘Data as a Service’ is typically used to describe startups, Thomson Reuters, exhibits several characteristics that align it with the DaaS industry.
- On-Demand Access: Customers can access Thomson Reuters' data services on demand, subscribing to specific datasets or services based on their needs.
- Subscription-Based Model: Thomson Reuters offers subscription-based access to its data products, allowing customers to pay recurring fees for ongoing access to data and analytics.
- Data Variety: Thomson Reuters provides a wide range of data types, including financial market data (e.g., stock prices, market indices), legal and regulatory data (e.g., court cases, regulations), and tax data (e.g., tax rates, compliance information).
- APIs and Integration: Thomson Reuters offers APIs and integration tools that allow customers to seamlessly integrate its data into their workflows, applications, and decision-making processes.
- Data Governance and Security: Thomson Reuters is required to implement data governance and security measures to ensure the integrity, confidentiality, and compliance of its data offerings, including encryption, access controls, and compliance with industry regulations.