Thomson Reuters Eikon: FlexNet Connect Helps Financial Software Deliver Value 24/7

Customer Profile:

Thomson Reuters is the world’s leading source of intelligent information for businesses and professionals, offering the ultimate set of financial tools for a new generation of financial professionals. Their newest product, Thomson Reuters Eikon, will redefine how financial professionals work by placing the most comprehensive market information, news, analytics and trading tools available into a desktop as simple to use and as collaborative as the Internet.

Challenge:

Thomson Reuters needed to provide their customers with transparent updates of their desktop financial tools software, which is used 24 hours-a-day, 7 days-a-week by thousands of financial professionals. In some cases, they wanted to allow large customers to control when updates are rolled out to their users. In other instances, they needed to deliver updates directly to the users.

Solution:

Thomson Reuters implemented FlexNet Connect, a component of the FlexNet Producer Suite for Software Vendors from Flexera Software. Thomson Reuters uses the FlexNet Connect solution to electronically deliver updates to customers.

Benefits:

FlexNet Connect, the software updating solution from Flexera Software, enables Thomson Reuters to lower maintenance and support costs by providing critical software updates to users of their Thomson Reuters Eikon financial software.

Transparency and Scalability - Key Requirements When Distributing Software Updates

Since its founding in 1851, Thomson Reuters has grown to become the world’s leading source of intelligent information for the financial community. With thousands upon thousands of users worldwide, the need to keep customers’ desktop financial software running smoothly with the most up-to-date software version is critical to keeping customer satisfaction levels high.

“Flexera Software’s FlexNet Connect solution enabled us to release our Thomson Reuters Eikon product with best-in-class software update capabilities that gives our customers peace of mind that their real-time financial desktop software will be up-to-date and operational 24/7.”

Andrei Borsaru, Thomson Reuters

Thomson Reuters Eikon software application for the desktop, released last year, provides real-time financial information from markets all over the world. In preparation of the Thomson Reuters Eikon launch, Andrei Borsaru and Katherine O’Leary from Thomson Reuters were tasked with defining the update process for their new product. One of Thomson Reuters’ key criteria (as well as a key customer requirement) was to ensure that the software update process was as transparent and least intrusive to the enduser desktop as possible.

“We needed to transparently provide our customers with critical software updates in the least intrusive way possible,” said Andrei Borsaru, responsible for Thomson Reuters Eikon Deployment and Installation at Thomson Reuters. He adds, “The software update process needed to be easy to deploy and install as well as comply with our large customers’ need to control the roll-out of the updates to their user community.”

Over the next few years, Thomson Reuters hopes to migrate all of its current users to the Thomson Reuters Eikon solution, which means that Thomson Reuters Eikon would be running on around 300,000 terminals. Therefore, it is critical that they keep their customers on the most current version of the software to keep maintenance and support costs in check.

The Buy-Versus-Build Decision

The Buy-Versus-Build Decision When first undertaking this initiative, they were tasked with determining if they wanted to continue to use an in-house developed software update solution or purchase a commercially available software update solution.

Thomson Reuters determined very early on that they would only build a software update solution as a last resort. They wanted to benefit from the expertise and experience of a commercially available software update solution. They needed a solution that they could seamlessly integrate into their software application so that they could focus on their core competencies rather than building their own software update solution.

Searching for a Best-In-Class Software Updating Solution

Early on in their search, Thomson Reuters came across FlexNet Connect, the software update solution from Flexera Software. As a long-term user of InstallShield, the gold standard for building Windows® installations and used by virtually every major software company in the world, they had reassurance knowing that FlexNet Connect and InstallShield were from the same worldclass organization.

Borsaru explains, “We worked closely with the InstallShield product in the past and had a very positive experience with Flexera Software, their technology and consulting teams. So when the time came to choose a partner for a software update solution, we knew that Flexera Software was the right choice. We wanted a market-ready solution that was proven and viable; FlexNet Connect met and exceeded our requirements. It also gives us room to grow and allows us to take advantage of even more capabilities down the road.”

Based on previous experience with the Flexera Software support organization Thomson Reuters also knew they would be partnering with an organization that provided quick response and turnaround times, key attributes of making sure the partnership was a success.

FlexNet Connect Software Update Solution Delivers Value to Thomson Reuters Eikon

“Our customers most requested requirement was that they be empowered to control when software updates are rolled out to end users. By choosing the FlexNet Connect solution we have the option and flexibility of providing our large customers with this power to control the update process, or we can directly push out updates to our customers,” says Katherine O’Leary, responsible for Thomson Reuters Eikon Deployment and Installation.

By adopting FlexNet Connect, Thomson Reuters expects to achieve a host of benefits, including:

  • Streamlined software update process that can be executed globally, simultaneously and consistently
  • Lower maintenance and support costs by keeping customers up-to-date on the latest software versions
  • Higher customer satisfaction by giving larger customers the power to control when updates are pushed out to user community

“During the entire product development lifecycle we have been impressed with the help that we have received from Flexera Software—from executives, to engineers, to product management—it has been a privilege to work with the Flexera Software team,” explains O’Leary. “Flexera Software’s real desire to work with our team and the fact that they listened to our suggestions and feedback for new requirements/features has helped us build a strong relationship.”

In Summary

Borsaru summarizes, “Flexera Software’s FlexNet Connect solution enabled us to release our Thomson Reuters Eikon product with best-in-class software update capabilities that gives our customers peace of mind that their real-time financial desktop software will be up-to-date and operational 24/7.”

About Flexera Software

Flexera Software is the leading provider of strategic solutions for Application Usage Management; solutions delivering continuous compliance, optimized usage and maximized value to application producers and their customers. Flexera Software is trusted by more than 80,000 customers that depend on our comprehensive solutions — from installation and software monetization to application readiness and software license optimization — to strategically manage application usage and achieve breakthrough results realized only through the systems-level approach we provide. For more information, please go to: www.flexerasoftware.com.