Thomson Reuters Elite Strengths, Domain Expertise, and Key Differentiators
Thomson Reuters Elite offers ERP applications for law firms and professional services organizations to run all operational aspects of their firms, including business development, risk management, client and matter management, and financial management.
Thomson Reuters acquired T.Global for global trade management. With this acquisition, Thomson Reuters establishes a new business vertical within its Tax&Accounting division for global trade management. T.Global develops and markets global trade management solutions branded Softway, Trade-Easy, and Softleasing.
With over 900 employees, T.Global has expertise in developing workflow solutions to facilitate the management of global trade processes across Latin America. The solutions are implemented in Brazil and across Latin America, with client-hosted or SaaS technology that interoperates with a variety of ERPs for seamless trade and tariff compliance.
Thomson Reuters Elite Recent Developments
In July 2019, Thomson Reuters Elite launched a refreshed user interface as well as many other enhancements to several products in the 3E Enterprise Business Management Solution. The new user experience delivers to users a new application interface that unifies the experience across 3E, 3E Workspace, and 3E Paperless Proforma. The same period Thomson Reuters Elite released 3EMatterSphere 8.1, which provides enhancements to the search process and a more flexible and customized user experience.MatterSphere, an integral component of the 3E Enterprise Business Management Solution is the complete matter and client management solution that can be used within Microsoft Word to help lawyers work more efficiently.
In December 2019, Thomson Reuters launched of eBillingHub® Insights, actionable reports that deliver vital data in easy-to-read graphical reports that replace table-only reporting. The new reports are the first deliverable in a robust strategy of delivering more value to eBillingHub clients.
The first two reports include Accounts Receivable and Rejection Summary and are a direct response to client requests. Built into the new eBillingHub user interface, these reports allow users to pinpoint issues with rejections and delinquent invoices and to dive into vital information in a few easy clicks. Easy-to-obtain snapshots of important data provide C-level and other users an instant picture of the firm’s billing health.
In June 2019, Thomson Reuters launched the eBillingHub API Platform. The platform opens the door for clients to expand eBillingHub functionality and data access in new ways that can help streamline workflows and improve the entire billing process. The API Platform is an open set of tools that allows firms to coordinate, collaborate, and combine eBillingHub with other software platforms that firms deem valuable. The tools allow firms to build new functionality or improve on what is already in place. For example, firms can integrate eBillingHub workflows into other systems to automate processes, eliminate the need for multiple systems, and reduce the chance of errors. The new API Platform now offers four components, consisting of Validation API, a component to check invoice or time entry data against clients’ outside counsel guidelines; Submission API, a component to deliver LEDES files to clients based on invoice data received; Attachment API, a component to add files to the delivery of LEDES files to clients; and Status API, a component to view the current and historical status of an invoice. Additionally, Thomson Reuters has plans to expand the eBillingHub API Platform in the future.
The same month made a release of ProLaw® 2019.1 Service Pack 1, which offers customers more robust billing options through ProLaw Paperless Proforma™. ProLaw 2019.1 made it possible for users to print statements directly from Paperless Proforma, an intuitive, web-based pre-bill distribution and mark-up solution. Now, Service Pack 1 offers users the ability to generate more complex billing statements, including client-level and split-level statements. In addition, users can email statements to clients directly from Paperless Proforma.
In January 2019, Thomson Reuters Elite launched of 3E® 2.8.2, the latest version of its flagship financial and practice management solution utilized by more than 260 firms around the globe.Along with several product enhancements, 3E 2.8.2 enables the wide availability of 3E in the Cloud, the first Software as a Service (SaaS) financial management solution for large and mid-sized law firms. This new cloud offering provides an Elite-managed cloud environment using the Microsoft® Azure® platform.
The Microsoft Azure platform offers cloud confidence with nearly unlimited scale, 24/7 monitoring, security rigor, and innovation opportunities unmatched in the industry. The result is superior data security, power and load capacity flexibility, improved disaster recovery, and enhanced risk management of business data for law firms.
In September 2018, Thomson Reuters Elite released of Data Insights for Enterprise. The new offering is a powerful analytics model that delivers, rich, persona-based visual analytics anytime, anywhere so organizations can unify their data into insightful and actionable information. Data Insights gives users a powerful way to transform, analyze, and visualize their data. It combines a feature-rich self-service data warehouse console along with Microsoft Power BI, a leading, cloud-based business analytics service. Users are provided dashboards that are tailored and filtered to their individual needs to capture key metrics in a rich visualization experience.
Data Insights works with Enterprise to help users spot trends as they happen, view forecasting and analytics, and create interactive reports and dashboards all at their fingertips. This rich level of information provides lawyers with the tools they need at their fingertips so they can deliver legal services in the most efficient and cost-effective way. Data Insights also integrates with 3E, the end-to-end enterprise business management solution from Elite, allowing Enterprise clients that choose to transition to 3E to easily move their Data Insights reports with them.
Thomson Reuters Elite is the leading global provider of innovative business management solutions that enable law firms and professional services organizations to streamline operations, maximize efficiency, and increase visibility into all aspects of their businesses. Elite is focused on enabling firms of all sizes and locations to meet their true potential and provide the best service for their clients.
Thomson Elite 3E for legal practices has signed nearly 160 law firms including 100 that have gone live.
Thomson Reuters Elite Mergers and Acquisitions (M&A) Activities
In September 2018, Thomson Reuters acquired OLAP Vision, a Toronto-based producer of budgeting and forecasting, profitability, and financial reporting products under the Xcelerate brand which provides 3E, Enterprise, and ProLaw users valuable budgeting and forecasting and financial reporting solutions. The Elite business has worked closely with OLAP Vision since 2010.
Thomson Reuters Elite Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Thomson Reuters Elite applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Thomson Reuters Elite and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Elite ProLaw, customers.
Thomson Reuters Elite Overview
Ownership: - TRI : NYSE
Number of Employees: 1000
Key Verticals: Professional Services,
Thomson Reuters Elite Key Enterprise and Cloud Applications
Thomson Reuters Elite Revenues, $M:
|Type/Year||2018||2019||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Thomson Reuters Elite Revenue Breakdown By Type, $M:
|Type||License||Services||Hardware||Support & Maintenance||SaaS|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe|
Thomson Reuters Elite Enterprise Applications Revenues By Functional Markets, $M:
Thomson Reuters Elite Enterprise Applications Revenues By Verticals, $M:
Thomson Reuters Elite Revenues By Region, $M
|Region||% of Total Revenues||2019 Total Revenues, $M||2019 Enterprise Applications Revenues, $M||2019 Cloud Applications Revenues, $M|
Thomson Reuters Elite Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
Thomson Reuters Elite Customers - Breakdown by Geo, Size, Vertical and Product
No. of Thomson Reuters Elite Customers: 4500
No. of Thomson Reuters Elite Enterprise Applications Customers: 4500
No. of Thomson Reuters Elite Cloud Customers: 4500
No. of Thomson Reuters Elite Cloud Subscribers: 90000
By the end of 2019, more than 190 firms are expected to be live on 3E. Elite products are being used by 4,500 law firms in 42 countries. That included: 153 firms with Elite 3E; 270 firms with Business Development Premier; 211 firms with MatterSphere; 401 firms with eBillingHub and 3,161 firms with ProLaw. Within the legal field, Elite's 4,300 customers are mid- to large-sized law firms and corporate legal departments. Its customers are in 42 countries, with some 3300 customers in North America, about 900 in Europe (mostly in the U.K.) and about 200 in Asia and the Pacific (mostly in Australia).
Among its customers are: Allen&Overy, Anderson Strathern, Andrews&Kurth, Arent, Fox, Kintner, Plotkin&Kahn, Baker&Botts, Baker&Daniels, Bank of America, Barnes&Thornburg, Bass, Berry&Sims, Birch, Stewart, Kolasch&Birch, Borton, Petrini&Conron, Bowles Rice McDavid Graff&Love, Brown&Bain, Butzel Long, Carlton Fields, Cameron McKenna, Choate, Hall&Stewart, Clark Hill P.L.C., Connell, Foley&Geiser, Cooley Godward Kronish LLP, Cox, Castle&Nicholson, Coudert Brothers, Crosby, Heafey, and many others.
Thomson Reuters Elite Market Opportunities, M&A and Geo Expansions
In March 2018, Thomson Reuters Elite began new Alliance partnership with 3 Step IT, which helps its clients to plan, manage, and refresh their IT infrastructure and devices. Headquartered in Helsinki and with more than 4,000 customers worldwide, 3 Step IT provides cost-effective and complete IT lifecycle services that help clients acquire, sustainably renew, and responsibly dispose of IT assets.
By using 3 Step IT's life cycle toolkit, firms enable their finance and IT functions to work smarter when investing in, managing, and refreshing their IT infrastructure. Available to clients of 3E, 3E Business Development (formerly Business Development Premier) and Enterprise 3 Step IT provides transparent and flexible finance solutions for both software and hardware and their disposal service has been given the highest stamp of approval (ISO 27001). This gives firms peace of mind that their data is securely erased. In addition, clients have access to a one-stop-shop portal to manage their entire IT estate, throughout its life cycle.
In February 2018 Thomson Reuters Elite started new Alliance partnership with Ten10, the UKâ's independent software testing company and a proven, trusted partner to the legal sector. The new partnership provides 3E customers with complete traceability and a platform from which post-go-live changes to the system can be successfully tested. Ten10 will work collaboratively with 3E customers, as well as any associated third parties, to minimize the risks associated with implementing a new system, and to help ensure go-lives are delivered on time and within budget.
Ten10 offers a fully managed test service for 3E implementations and upgrades. This service ranges from the creation of a unified test strategy to the implementation and delivery of required software testing services. Their expertise spans functional, automation and performance testing including integrations to both upstream and downstream systems as well as leading user acceptance testing
In November 2019, eBillingHub partnered with Coyote Analytics, a provider of law firm practice and financial management systems. The new partnership enables customers of Coyote Analytics to seamlessly integrate their billing process with eBillingHub, the e-billing solution trusted by hundreds of firms worldwide. Utilizing eBillingHub results in a significantly enhanced e-billing process, yielding accelerated cash flow and boosted realization rates and turns the often-burdensome billing process into a streamlined, scalable, and profitable part of a firm’s business.
In October 2019, eBillingHub made a partnership agreement with Wilson Allen, provider of consulting services and software that enable professional services firms to enhance business performance. The partnership enables seamless integration of Wilson Proforma Tracker software with eBillingHub to further streamline the billing process so firms can more quickly issue compliant invoices. More specifically, firms will now be able to validate proposed bill updates and edits against client guidelines in real time, avoiding invoice rejections and payment delays.
In September 2019, Thomson Reuters Elite made a new partnership with Inspired Testing, the premier pure-play software testing company in the U.K. and Africa. The new partnership offers 3E customers a testing service that ensures robust and complete quality assurance during any implementation. This comes with a full suite of test services, including test consultancy, functional testing, and performance and automation testing.
In August 2019, Thomson Reuters Elite partnered with Nvoicepay, a financial technology company dedicated to simplifying accounts payable for businesses. The new partnership enables 3E® customers to pay their domestic and international suppliers with Nvoicepay’s intuitive cloud-based software and comprehensive services.
In February 2019, Thomson Reuters Elite made a new Alliance partnership with Apperio Limited, which provides automated legal spend management and analytics to enable lawyers to track and analyze legal spend in real time.
Thomson Reuters Elite Risks and Challenges
Thomson Reuters Elite's decision to stress its development environments over built-from-the-scratch Cloud applications underscores the large amount of legacy systems are used by law firms, not to mention the accumulation of customization that has been put into place.
Managing the transition from heavily customized legacy systems to the Cloud will be a big challenge. At its worldwide Vantage 2015 user conference in Las Vegas, Thomson Reuters Elite announced an anticipated 2017 move to the cloud for its flagship product, Elite 3E, and a new emphasis on building a customer-centric organization.
Thomson Reuters Elite Ecosystem, Partners, Resellers and SI
In August 2019, Thomson Reuters Elite made a new implementation partnership with ProLytics Consulting Group, a consulting firm which specializes in performance management, data analytics, and business intelligence. The partnership enables Elite customers to access robust services and support for implementations of 3E® Budgeting and Forecasting, including those that will be integrating the market-leading budgeting tool with ProLaw®. An Implementation Partnership is one of four current partnership categories with Thomson Reuters Elite and is a mutually beneficial relationship with partners that play an integral role in the legal practice management ecosystem. Implementation Partners are focused on helping individual customers with services work, including product implementation, installation, data conversion, customization, integration services and more.
Through 2016, Thomson Reuters Elite has signed with Vuture, SAI Global, GlobalX Legal Solutions, Nikec Solutions, PaayaTech and Athenian IT Development Ltd. as its Integration partners.
Headquartered in Los Angeles, Thomson Reuters Elite employs more than 900 professionals worldwide and maintains offices in Albuquerque, Calgary, Chicago, Hong Kong, Houston, London, Minneapolis, Moncton (New Brunswick), New York, Philadelphia, Pittsburgh, Singapore, and Sydney.
Thomson Reuters Elite Product Partners include: Advanced Legal, ClickDimensions, ClientPay, Emerald Consulting, IBM, Innovation Software, OLAP Vision, OpenText, SAP, Zylpha.
Thomson Reuters Elite Cloud Infrastructure Insights
Subscribe to read more about:
- Thomson Reuters Elite Public Cloud and Infrastructure (IaaS)
- Thomson Reuters Elite Platform (PaaS)
- Thomson Reuters Elite Application Delivery
- Thomson Reuters Elite Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:https://www.appsruntheworld.com/About Us
Copyright © 2021, APPS RUN THE WORLD