From Messenger Pigeons to the Web: Thomson Reuters Spends $1 Billion to Make Its Financial Information Services User Friendly

Reuters, "never really been known for its cutting-edge advances," will unveil Project Utah, the final leg of a $1 billion technology investment to upgrade its systems reports James Ashton in the Sunday Times, Thomson Reuters explodes into web age. Some of the changes mirror Reuters’ rivals, Dow Jones and Bloomberg, which have been making IT investments during the current recession. “People who grew up with Google have totally different expectations of how to interact with information and media. We can’t ignore that, "said Devin Wenig who runs Thompson Reuters market division.

Almost two years in the planning, and arriving early next spring reports Ashton, Project Utah aims to create a common platform for all of Thomson Reuters’ 200 financial products for the first time, making Reuters’ systems simpler to use. “We are not going to be the greatest technology company in the world and nor should we be,” said Devin Wenig who runs Thompson Reuters market division. “But technology is an enabler. We have to put money into it. We can’t just talk about it.” [JH]