SOURCE: Thomson Reuters Corporation
WASHINGTON, DC--(Marketwire - Sep 19, 2012) - Thomson Reuters and Informática El Corte Inglés (IECI) have formed a strategic partnership to implement cadastral mapping and land information management systems in Latin America. The two companies will deliver automated land administration solutions that enable governments to manage property rights efficiently, equitably and with transparency.
"By combining our strengths, we can fill the substantial need for improved land administration in South and Central America and the Caribbean," said Peter Rabley, vice president for global business development within the Tax & Accounting business of Thomson Reuters. "Effective documentation of land rights provides security for all peoples and provides an effective base for environmental stewardship by government, as well as improved revenue collection. By implementing our systems, governments throughout the region will have a proven means to effectively and equitably secure rights, protect the environment, improve revenue, and increase public access and transparency."
The companies have signed a memorandum of understanding that leverages their complementary capabilities and expertise in implementing modern land information systems and management practices. Thomson Reuters will implement systems for registering property titles and ownership rights based on its GRM (Government Revenue Management) software. IECI will provide implementation services for GRM including the integration of technologies necessary for successful deployment of land information systems.
"Systems of spatial information management -- both cadastral and property registration -- are among the political objectives of many countries in the region. Improving the quality of land information is a direct path for national growth and development, creating greater legal certainty, more foreign investment and increased tax revenues to establish new social policies," said Emilio Gil, director for Informática El Corte Inglés LATAM. "Working together, we support these initiatives and cooperate with governments implementing best practices and technologies at public offices of cadastre and property registry."
Thomson Reuters has deployed land administration services and systems, including its GRM software, in more than 40 countries. GRM enables governments to optimize revenues, record and protect property rights, promote economic development, improve environmental stewardship, increase transparency, and improve property assessment and tracking. It provides a single access point for users searching for property information, which provides for open and transparent use of accurate, timely data. GRM makes the collection of property taxes and management of lands simpler and more equitable.
IECI, the IT company of retail giant El Corte Inglés, provides information technology services to governments and companies in Spain and Latin America. The company has extensive experience supporting Latin American governments, highlighting the Cadastre Project of Mexico City, among the largest single-city land registries being implemented worldwide.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets powered by the world's most trusted news organisation. With headquarters in New York and major operations in London, Singapore and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges.
For more information, go to: grm.thomsonreuters.com.