Thomson Reuters has a core set of values and standards that guide our company and staff during the supplier selection process. These values and standards include a strong commitment to our customers, which in turn drives what we expect from our suppliers as we conduct our business. Adhering to our internal ethical standards is also an essential part of sourcing and procurement at Thomson Reuters.
Sourcing and Procurement Guiding Principles
One of our missions is to optimize organizational efficiency and effectiveness throughout Thomson Reuters while working in partnership with our suppliers and our external and internal customers. In pursuit of this mission, we follow these Guiding Principles when selecting suppliers:
Cost (total cost of ownership)
We choose suppliers based on the overall value provided. Price is one of many factors influencing our sourcing decisions.
Collaboration
Collaborating with our suppliers at all levels and leveraging supplier talent and other resources are critical for operating in a global marketplace.
Continuous Improvement
Today's solutions are not the answers to tomorrow's challenges. Therefore, we need our suppliers to deliver continuous innovation and improvement in products, services and processes to help us meet the evolving needs of our external and internal customers.
Communications
Effective communications at all levels are critical to exploiting opportunites in today's global marketplace and to meeting our customers' needs in addition to our own needs.
Character
We are guided by both our internal standards and the Principles and Standards of Ethical Supply Management Conduct set forth by the Institute for Supply Management. We choose suppliers that adhere to the same or comparable standards
Minimum Supplier Requirements
Prospective suppliers must meet specific qualification requirements and these may vary by product or service. However, certain minimum requirements are common for all suppliers, including:
- Financial Stability
- Established Business
- Insurance Requirements
- Quality Standards (e.g. ISO, CMMI, Six Sigma or equivalent)
- Business Conduct and Ethics
Sourcing Categories
As a major corporation with a global reach, Thomson Reuters buys a broad spectrum of products and services. This list covers the major categories we acquire from external suppliers:
Benefits
Communications
Compensation
Consulting Services
Content
Dues & Subscriptions
Fleet Management
Freight
Hardware
HR Services & Recruitment
IT Maintenance & Services
Learning
Marketing & Advertising
Media
Office Equipment
Office Supplies
Outside Services
Printing Services
Professional Services
Real Estate & Facilities
Relocation Services
Software
Temp Services
Travel Services
Our Commitment to Supplier Diversity
Thomson Reuters recognizes the positive impact that supplier diversity has on the economic vitality of a community. We are committed to ensuring that supplier diversity is an integral part of our sourcing and procurement processes.
For example, opportunities for Minority/Women Business Enterprises (MBE/WBE) to participate as suppliers are provided to certified MBEs and WBEs where possible as part of our sourcing and procurement processes.
Our policy of encouraging and assisting MBEs and WBEs is a reflection of the Thomson Reuters commitment to diversity and the communities where we work and live.
Business Conduct and Ethics
The business conduct and ethics standards that guide Thomson Reuters reflect our ethical values as a corporation and our approach to doing business. We look for suppliers that abide by comparable standards and demonstrate an unwavering commitment to:
- Adherence to the highest standards in hiring and employee safety.
- Compliance with all applicable laws, including regulations pertaining to minimum wage and maximum working hours per week.
- Agreement not to hire any underage employee, not to discriminate based upon race, creed, gender, age, color, disability, sexual orientation or any other protected class under federal, state, local or other applicable laws, and not to use any forced or involuntary labor.
- Agreement to meet or exceed all applicable environmental codes pertaining to fire and safety, in order to provide safe working conditions for employees and protection for Thomson Reuters works in progress.
Contact Us
If your organization is interested in applying to be a Thomson Reuters supplier, email us.