Project Type: Solution Implementation
Delivery of a single customer view across the entire Thomson Reuters global organisation
Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals, combining industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare, science and media markets. The company boasts 60,000 employees in more than 100 countries.
Thomson Reuters is highly acquisitive. It operates hundreds of back-office systems containing approximately 6 million customer and prospect records.
Thomson Reuters’ vast ecosystem of data sources posed numerous challenges across its business, including:
- Multiple systems and data stores
- Data owned and managed by business
- Inconsistent and manual processes
- Few restrictions on who maintains data
- Variety of data structures and standards
- Duplicate records
- Multiple structures to maintain
- Errors created by lack of governance
- No visibility of customers across businesses
Thomson Reuters mandated at board level that a single customer view was a key strategic business goal. It asked Entity to help it define, document and agree and implement a single corporate view of customer data across the enterprise.
Entity implemented an MDM Solution over a 12 month period across the global organisation to enable Thomson Reuters to gain a single view of its customers. The project focused on three key areas.
- Definition and implementation of data governance policies and the implementation of a steering committee known as the Data Governance Authority
- Common process to support governance and to continuously monitor and enhance data quality
- Implementation of the MDM Solution to support global operations
- Tools to monitor, support and enforce data standards across a vast and ever-changing source system universe
The benefits to Thomson Reuters from the successful implementation of the solution are numerous, including:
- Sales operations – total view of the customer across all Thomson Reuters businesses
- Executive decision-making – critical information about Thomson Reuters customers instantly available
- Reporting – a trusted ‘golden view’ of customer data, customer data conversions happen in weeks not months