Reed moves to second phase

<p>The Times reports on the evolution of Reed Elsevier: &quot;While many traditional publishers are still trying to generate meaningful online revenues, Reed Elsevier has already moved on to a second phase of development. Having provided online access to its medical journals and legal databases, the company is seeking to create software tools that are intended to make its products a constant companion for many doctors and lawyers. The unlovely jargon for this is &#39;workflow solutions&#39;.&quot;</p><p>[Reed c.e.o. Sir Crispin] Davis explained: &ldquo;Seven years ago Reed Elsevier was essentially a print-based publisher, providing proprietary, must-have content through books, journals and magazines. Three years ago we had moved, to an important degree, to provide that content online, with the advantages of speed, accessibility and [more] linkages.&quot;</p><p>Davis sees the bulk &mdash; perhaps 75% &mdash; of Reed Elsevier&rsquo;s business moving online in the next decade. The group&rsquo;s strategy projects steadily increasing margins. This is a simple story, and one well understood by the City. Some analysts, however, have complained that it is difficult to see the catalyst that will light a fire under Reed&rsquo;s share price. <br /><br /></p>