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Rethinking Eikon: Thomson Reuters' two-year plan
Wednesday 2 May 2012
Thomson Reuters is rethinking the rollout of Eikon, its flagship financial data product that has failed to set the market alight and disappointed investors since its 2010 launch, in an effort to get sales back on track over the next two years.
First-quarter figures announced on Tuesday showed that just over 16,000 clients had Eikon desktops at the end of March, compared with 15,000 three months earlier.
“We have an eight-quarter plan to be more competitive,” chief executive James Smith told the Financial Times in New York after announcing the Q1 figures. “We’ve been more targeted in our sales effort around Eikon, and we’ve redirected sales so we are going after sectors where we are in a strong position.”
Thomson Reuters makes 54 per cent of its revenues from financial and risk products and the rest from legal, tax and accounting and science businesses. It has targeted Eikon sales to foreign exchange, commodities, energy and fixed income customers.
The company was reported to have invested close to $1 billion in developing Eikon. In December it reiterated its commitment to the product and said it would be rolling out new capabilities in 2012. ■
- SOURCE
- Financial Times
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