Thomson Reuters, is one of the world’s most trusted provider of answers, helping professionals make confident decisions and run a better business.

In a recent interview with Jackie Rhodes the Managing Director Asia and Emerging Markets at Thomson Reuters, she shared her thoughts on a number of strategic initiatives including how the global business is undergoing a transformative phase, to emerge as a more contemporary technology company.

1. Can you tell us a bit about your background, your current role and what inspired the vision of Thomson Reuters?

My professional journey has spanned many global geographies. Based in Sydney, Australia, I lead the Thomson Reuters business in Africa, Asia Pacific, the Middle East and Russia. Over the course of my career, I’ve worked across a range of areas including business operations, strategy development, organisational transformation and acquisition integration. I’m passionate about helping our customers navigate change, driving growth and commercial excellence.

Steve Hasker is the CEO of Thomson Reuters. His vision for Thomson Reuters is guided by the organization’s core values. These include trust, innovation, partnership and performance. The global business is undergoing a transformative phase, which, over a period of two years, will see us become a more contemporary technology company.

Our products power the world’s most informed professionals and help strengthen society. The 2020 Social Impact Report released last month describes what Thomson Reuters is doing for global communities.

2. Congrats on the recent strategic collaboration between Thomson Reuters

and AdaptIT. What was the strategic rationale for this move? And why is the Sub-Saharan market so important?

We’re thrilled to have expanded our existing relationship with Adapt IT. The strategic rationale for collaborating with Adapt IT was borne out of the appetite in the region for digital transformation. 

Organisations in the Sub-Saharan market support our global economies and are a growing pillar in the business community. The World Bank has tipped the economic recovery and growth for the region to rebound to 2.7% in 2021. We’re committed to providing world-class products to our customers in Africa to help facilitate and accelerate growth.

“Organisations in the Sub-Saharan market support our global economies and are a growing pillar in the business community. The World Bank has tipped the economic recovery and growth for the region to rebound to 2.7% in 2021. We’re committed to providing world-class products to our customers in Africa to help facilitate and accelerate growth”

3. What’s your view on the trend towards ecosystems partnerships? And how is it defining the competitive landscape for businesses in the 21st century?

Business collaborations tend to come about when there is commercial value in joining forces and where there are complimentary capabilities which serve to enhance the customer experience, expand access to services and expertise and, ultimately, add value. Our relationship with Adapt IT is a prime example of that.

4. How would you describe the accelerated digital transformation taking place especially in the financial sector?

Digital transformation in the financial sector has been taking place for several decades, but over the past year this transformation has accelerated well beyond expectation. The speed with which technological capabilities is advancing makes digital transformation essential, especially as it related to regulatory requirements and regulations. With data security and cyber threats to consider, financial institutions and providers are operating in a risky landscape. I’ll give you an example of a client story shared recently:

Banque Misr is the second largest bank in Egypt and they adopted our compliance learning solution last September. They did this to ensure staff were up-to–date on relevant regulatory and compliance requirements. This simple, digital-first decision took the burden out of training staff in physical spaces during the ongoing pandemic. Now, 15,000 of the bank’s employees can access customised training modules on a regular basis. This not only meets the Central Bank of Egypt’s requirements, but is a simple and economical solution to training the bank’s geographically dispersed workforce.

“This not only meets the Central Bank of Egypt’s requirements, but is a simple and economical solution to training the bank’s geographically dispersed workforce”

5. The future of work is getting a lot of attention as businesses adjust to new ways as a result of the global pandemic. As the helmsman responsible for shaping Thomson Reuters response to the pandemic, what has worked well for you?

The time has come to fundamentally reprogram our workforces. At Thomson Reuters, we take a pro-empowerment approach and focus on driving high performance. COVID-19 has proven to business leaders like me that this can be done all while working flexibly. 

Data can teach you so much about your business and people. I’ve personally experienced the value in harnessing data and using it to help drive leadership decisions. We’ve also found success in mechanisms for continuous feedback between our people and leadership. Personally, I like the 360-degree approach. 

Finally, it’s important to note the importance of supporting employees’ mental health and wellbeing. Last year, Steve Hasker, our CEO, announced a Mental Health Day Off for all Thomson Reuters associates who are eligible for company holidays. Senior leadership has rolled an additional two days into this initiative to nurture our people. The feedback has been overwhelmingly positive, with significant participation in our internal activities to promote mental health, wellbeing and resilience in the workplace and at home.

6. In the long term, how do you think this will change consumer Behaviour?

The events of the past year have fundamentally changed the way consumers behave, from how they shop to how they engage with businesses to their expectations of companies around corporate and social responsibility. While some of these behaviours may temper somewhat as life returns to a “new normal”, many of the shifts we’ve seen over the past year are irreversible and it’s essential for companies to stay abreast of the underlying themes and trends which are driving these shifts in order to stay one step ahead.

“Our consciousness of diversity and inclusion is embedded in everything we do and factored into how we go to market”

7. How important is Diversity and Inclusion at Thomson Reuters and what does that mean in the way you go to market? And how does that tie into your view of partnerships acquisitions and the importance of scale?

Diversity and inclusion drives innovation. It also makes Thomson Reuters a better place to work and enables us to better serve our customers. To foster inclusivity, we focus on three strategic pillars. They are ‘inclusive workplace’, ‘diverse talent’ and ‘customers and brand’. We measure ourselves constantly against these metrics and our leadership holds ultimate accountability for ensuring we reach our goals.

On International Women’s Day, I referenced the value in gender balanced workplaces. According to Acritas, law firms with gender diverse teams achieve 10% higher client spend. Furthermore, organisations in the top quartile for gender diversity are 15% more likely to achieve above average financial returns. This makes for a compelling business case, not that it should be needed.

Our consciousness of diversity and inclusion is embedded in everything we do and factored into how we go to market. As a business leader, it’s important to stay true to our values as we scale and grow. We take this mantra into our collaborations with organisations as well. Partnerships provide a wonderful opportunity to expand on the diversity of perspectives that we have access to.