Thomson Reuters is making moves to ease friction in the corporate buying space. The company announced Friday (Dec. 11) that it would be working with Eze Software in an effort to optimize the workflow of corporate buyers and procurement officials.
Ultimately, the companies said, the collaboration will aim to reduce operational costs for these buyers.
Thomson Reuters will link corporate users to easier data and content management through its Eikon Server API via an integration with Eze OMS. The data collected will include real-time and historical information, reports said.
Reports noted that the efforts are also part of a move to eliminate data inconsistencies that can occur when two service providers or applications do not integrate with each other.
“Integrated workflow is very important to our buy-side customers as it improves efficiency and reduces errors and cost,” said Thomson Reuters Global Head of Equities Michael Chin in a statement. “However, at the same time, they need the flexibility to work with the trading tools of their choice.”
[bctt tweet=”‘Buyers need the flexibility to work with the trading tools of their choice.'”]
He added that Thomson Reuters is looking to support that choice by allowing third-party providers to integrate their data into the Eikon interface.
Reports added that only days prior, Thomson Reuters had added new features to provide more comprehensive supply chain data and analysis capabilities.
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