Thomson Reuters

What Thomson Reuters does

Thomson Reuters is a publicly traded (NYSE/TSX: TRI), Canada-domiciled content and technology company serving legal, tax and accounting, global trade, and regulatory compliance professionals. The company is organized around three product pillars: Legal (Westlaw, Practical Law, HighQ, Contract Express, Legal Tracker, and the CoCounsel generative-AI assistant), Tax & Accounting (the ONESOURCE family covering indirect tax determination, tax provision, statutory reporting, e-invoicing/Pagero, and Pillar Two global minimum tax), and Global Trade Management (ONESOURCE Global Trade Content, Denied Party Screening, Global Classification, Free Trade Agreement analysis, and Export/Import Management). These are unified under ONESOURCE+, an AI-enabled compliance network.

Underlying the product suite is a content-and-data foundation built over more than 150 years, including Westlaw case law and legislation, Practical Law content authored by 700+ lawyer writers, and global trade content maintained by 200+ analysts covering 220+ countries and 500+ trade agreements with 100M+ annual regulatory updates. The technical platform integrates certified connectors into SAP, Oracle, and Workday, and exposes APIs processing volumes such as 10 million ONESOURCE Determination transactions per hour at 40ms response times. CoCounsel 2.0 (released 2025) brings generative-AI capabilities to legal research, document review, contract analysis, and drafting, and integrates with Microsoft 365 and document management systems. The platform holds ISO 42001 certification for responsible AI and SOC 1/SOC 2 Type 2 attestations on key tax workflows.

The business model is enterprise subscription software sold via direct field sales and inside-sales motions, with annual contracts, quote-based pricing, and supplemental professional services for implementation and advisory. Customer segments span law firms of every size, in-house corporate legal departments, tax and accounting functions, customs brokers, manufacturers, government agencies, and academia across North America, EMEA, APAC (including a regional headquarters in Mumbai), the Middle East, and Southeast Asia. Go-to-market is consultative, with solution specialists routing leads by organization size and vertical, and distribution is augmented by embedded OEM partnerships with the major ERP vendors.

Name

Thomson Reuters

Legal name

Thomson Reuters

Website

https://thomsonreuters.in

Company type

Public

Founded year

1870

Operating status

Operating

Headcount range

251–500 employees

Short description

Thomson Reuters is a global content and technology company providing subscription software and authoritative information for legal, tax and accounting, and global trade compliance professionals across 220+ countries.

Ownership category

akta.pro rank

Product category

Professional Information & Compliance Software

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412), Document Preparation Services (561410), Other Accounting Services (541219), Computer Systems Design and Related Services (54151)

SIC

Services-Legal Services (8111), Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371)

akta.pro primary industry

OCR, ICR & Intelligent Document Processing (IDP) (BPAAAKAB)

akta.pro secondary industries

Payroll Tax Filing, Compliance & Regulatory Reporting (BPAAAHAB), Image/Document Quality Assurance (QC), Redaction & Compliance Prep (BPAAAKAK)

Keywords

• Legal research software
• Tax compliance software
• Global trade management
• Regulatory intelligence solutions
• Professional content technology

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Subscription-based Software Solutions: Recurring subscription revenue from cloud-based software solutions including ONESOURCE tax and trade products, Westlaw legal research, Practical Law, CoCounsel AI, and regulatory compliance tools. Pricing appears enterprise/quote-based with annual contracts.
2. Professional Services & Training: Revenue from implementation, training, and consulting services supporting software deployment and compliance advisory.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Thomson Reuters provides AI- and cloud-based professional information and workflow software for legal, tax & accounting, global trade, and risk professionals. Its core offerings are organized around four segments: Legal (Westlaw legal research, Practical Law know-how, CoCounsel generative AI, HighQ, Contract Express, Legal Tracker), Tax & Accounting (ONESOURCE indirect tax, tax provision, statutory reporting, e-invoicing, global minimum tax), Global Trade (ONESOURCE Global Trade Content, Denied Party Screening, Global Classification, Free Trade Agreement, Export/Import Management, Supply Chain Compliance), and Risk/News (Regulatory Intelligence, Reuters Connect/News Agency). The ONESOURCE+ platform unifies tax, trade and legal workflows into an intelligent compliance network integrating with SAP, Oracle and Workday.

Product overview

Thomson Reuters is an AI and technology company offering a comprehensive suite of products organized into three main segments: Legal (Westlaw, Practical Law, CoCounsel AI, Legal Tracker, HighQ, Contract Express), Tax & Accounting (ONESOURCE product family including Indirect Tax Determination, Indirect Tax Compliance, Tax Provision, Statutory Reporting, E-invoicing, Global Minimum Tax), and Global Trade Management (ONESOURCE Global Trade Content, Global Classification, Denied Party Screening, Free Trade Agreement solutions, Export/Import Management, Supply Chain Compliance). The flagship ONESOURCE+ platform unifies these solutions into an intelligent compliance network powered by CoCounsel generative AI, enabling cross-functional compliance across tax, trade, and legal operations with enterprise-grade security and integrations with SAP, Oracle, and Workday.

Differentiator

Problem solved

Functional benefit

Brands

• Westlaw: Premier legal research platform providing case law, legislation, and legal analysis.
• Westlaw Edge UK
• Westlaw US
• Practical Law
• CoCounsel
• CoCounsel Drafting
• ONESOURCE
• ONESOURCE+
• Reuters Connect
• Reuters News Agency
• Concourse
• HighQ
• Contract Express
• Legal Tracker
• Regulatory Intelligence
• Aumentum

Products and services

• Westlaw Premier legal research platform providing access to comprehensive case law, legislation, legal commentary, and real-time legal news across multiple jurisdictions. Used by legal professionals and law firms.
• Westlaw Edge UK Enhanced UK legal research platform integrated with CoCounsel AI for faster, more confident legal question answering. Built for UK legal professionals.
• Westlaw US US-focused legal research platform providing comprehensive coverage of US case law, statutes and legal resources.
• Practical Law Global practical legal knowledge hub providing practice notes, standard documents, clauses, checklists, and AI-powered search capabilities, authored and maintained by 700+ lawyer writers for legal professionals.
• HighQ Legal collaboration and workflow platform enabling secure document sharing, matter management, and client collaboration for law firms and corporate legal departments.
• Contract Express Document automation platform that creates, manages, and analyzes legal contracts efficiently for legal professionals.
• Legal Tracker Industry-leading software for spend and matter management that enables legal operations to manage spend, track matters and analyze legal department performance.
• CoCounsel (CoCounsel 2.0) Professional-grade generative AI assistant for legal professionals that accelerates legal research, document review, and contract analysis, integrating with Microsoft 365 and document management systems. CoCounsel 2.0 runs 3X faster.
• CoCounsel Drafting AI-powered legal drafting tool for efficient creation and editing of legal documents, used by legal professionals.
• ONESOURCE Indirect Tax Determination Automated software that determines sales and use tax, VAT and GST using real-time rates and rules, processing up to 10 million transactions per hour with 40ms response, with pre-built ERP integrations and APIs.
• ONESOURCE Indirect Tax Compliance Intuitive software managing sales and use tax, GST and VAT compliance in a single central environment with real-time rates, rules and indirect tax content.
• ONESOURCE Tax Provision Comprehensive solution for estimating accurate tax provisions for multinational organizations operating across multiple jurisdictions.
• ONESOURCE Statutory Reporting Global disclosure management tool with local language, best practice, country-specific reporting templates and content updates from the largest accounting firms for statutory financial reporting.
• ONESOURCE Pagero (E-invoicing) Integrated online invoice management and indirect tax solution enabling compliance with global e-invoicing mandates.
• ONESOURCE Global Minimum Tax Solution that helps multinationals navigate and comply with Pillar Two global minimum tax requirements.
• ONESOURCE Global Trade Content Comprehensive collection of international trade regulations and content with over 100M yearly updates, covering 220+ countries and 500+ trade agreements, available as a SaaS solution or via extracts/APIs.
• ONESOURCE Denied Party Screening Automated screening solution that checks customers, suppliers and partners against 750+ global denied party lists for sanctions and trade compliance.
• ONESOURCE Global Classification Automated Harmonized System (HS) and Export Control Number (ECN) classification solution ensuring import and export compliance across 220+ countries, with certified SAP and Oracle integrations.
• ONESOURCE Free Trade Agreement Trade agreement management solution for maximizing duty savings and ensuring FTA compliance across global supply chains covering 500+ trade agreements.
• ONESOURCE Free Trade Agreement Analyser AI-powered solution that streamlines FTA complexity for duty optimization and supply chain cost savings with automated insights across 500+ FTAs.
• ONESOURCE Export Management Export compliance and supply chain solution that streamlines documentation, license tracking and restricted party screening for secure shipments, with Oracle integration.
• ONESOURCE Import Management Import process management solution ensuring customs compliance, managing licenses and integrating with brokers for seamless import operations.
• ONESOURCE Supply Chain Compliance Supply chain risk and compliance management solution enhancing partner management, mitigating risks and ensuring ESG compliance across global supply chains.
• ONESOURCE Foreign-Trade Zone Software Foreign-trade zone management software enabling duty deferral, inverted tariffs and operational efficiency for FTZ operations.
• ONESOURCE+ Intelligent compliance network unifying tax, trade and legal functions with AI-powered solutions (CoCounsel), trusted content and enterprise-grade security, consolidating ONESOURCE products into a connected compliance ecosystem with SAP, Oracle and Workday integrations.
• Regulatory Intelligence Regulatory compliance solution helping banking, financial services and insurance sectors gather, monitor and analyze regulatory data in a rapidly changing environment.
• Reuters Connect News content platform providing broadcasters and publishers with real-time breaking news and high-impact global multimedia content, including newswires, pictures and video.
• Concourse Legal content and workflow solutions for corporate law departments.
• Thomson Reuters Aumentum Government solutions for tax collection, property valuation, land registration and registry management.

Quantifiable outcome

• 69% of decision-makers agree that unified technology solutions help reduce data silos between tax, trade and legal
• +8 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability7 records

Feature8 records

Partnerships

Four partnerships are on record, tiered strategic divestiture and core.

• CUBEstrategic divestitureTechnology or Integration · 1 January 2024Thomson Reuters Regulatory Intelligence and Oden businesses were acquired by CUBE, transitioning these regulatory compliance solutions to CUBE's RegTech portfolio. This represents a strategic divestiture rather than a partnership.
• SAPcoreTechnology or IntegrationStrategic integration partnership embedding ONESOURCE+ compliance solutions within SAP enterprise systems. Integrations help tax, trade, and legal teams accelerate adoption of ONESOURCE+ solutions, enabling automated compliance and embedded workflows within existing SAP ERP environments.
• OraclecoreTechnology or IntegrationCertified integration partnership embedding ONESOURCE+ solutions within Oracle enterprise systems. ONESOURCE products including Global Trade Management, Indirect Tax Determination, and Export Management feature certified Oracle integrations for streamlined data flow and compliance automation.
• WorkdaycoreTechnology or IntegrationStrategic partnership embedding ONESOURCE+ compliance solutions within Workday enterprise systems, enabling tax, trade, and legal workflow automation within Workday environments.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Avalara: Avalara provides cloud-based indirect tax determination, compliance, and e-invoicing software, competing with ONESOURCE Indirect Tax Determination and ONESOURCE Pagero, particularly among mid-market and SaaS-native enterprises.
• Workiva: Workiva provides a cloud platform for connected reporting, SOX compliance, and ESG/regulatory disclosures, partially overlapping with ONESOURCE Statutory Reporting and Concourse workflows for corporate compliance teams.
• Harvey: Harvey is an AI-native legal platform built on large language models for legal research, drafting, and document review, increasingly competing for AI-driven workloads currently served by Westlaw and CoCounsel in law firms and corporate legal departments.

Broad incumbents

• S&P Global: S&P Global operates a broad portfolio of ratings, market intelligence, and commodity/regulatory data services (including S&P Capital IQ Pro, Platts, and Sustainable1) that overlap with TR's global trade content and risk analytics offerings for enterprise customers.

Direct peers

• Wolters Kluwer: Wolters Kluwer is a Dutch-based professional information services company with overlapping tax, legal, regulatory (GRC), and health compliance software suites (e.g., CCH, Enablon, TeamMate) that compete head-to-head with ONESOURCE and Westlaw in enterprise compliance workflows.
• Bloomberg Industry Group (Bloomberg Tax & Bloomberg Law): Bloomberg Industry Group offers Bloomberg Tax (tax research, news, and compliance tools) and Bloomberg Law (legal research and workflow), directly competing with Westlaw, Practical Law, and ONESOURCE for tax/legal professionals at law firms and corporate tax departments.
• LexisNexis (RELX): LexisNexis, owned by RELX, is the closest direct competitor to Thomson Reuters across legal research (Lexis+), tax and regulatory compliance, and risk information services, serving law firms, corporate legal, and government with comparable subscription-based content and analytics platforms.

Others

• CUBE: CUBE acquired Thomson Reuters' Regulatory Intelligence and Oden businesses in 2024, making it both an acquirer of TR assets and a competitor in regulatory compliance and AI-driven RegTech for financial services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/thomsonreuters
• LinkedInlinkedin.com/company/thomson-reuters-india

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Thomson Reuters