Seamless business connectivity from Thomson Reuters
Better data connections build better answers.
Global indirect tax challenges aren’t getting any easier
Achieving optimal sales and use tax, GST, and VAT compliance, and doing it on time, is increasingly difficult.
- New regulatory rules and real-time filing processes
- New channels and opportunities (e.g., e-commerce)
- Continued cost pressure on tax department
57% of tax departments expect significant change to government requirements in the next 1-2 years [1]
Accuracy is foundational
Compliance is about the right answer. Innovation lets us get it faster— and multiply its value. Getting modern sales and use tax, VAT, and GST right means bringing content, business data, and calculation together in real time.
- Cloud-native tax engine with improved data transparency
- More accurate tax calculations, faster
- Broader global content coverage
Compliance and meeting deadlines far outpace all other tax department metrics for success.1
Integration is how we build
When the right answers are shared with the right enterprise-wide workflows, business revenue and growth become the focus, with less worry about compliance.
- Robust APIs for flexible data connections
- Plug into both traditional and cloud-based ERP and business tools
- Not just connecting, but integrating process and information
Adobe saved $1+ million by exposing their source of tax risk and moving to a single platform, reducing unnecessary tax management costs. [2]
Automation is how we deliver
A centralized, fully integrated, and automated process for indirect tax enables tax teams to focus on high-value goals and initiatives.
- Reduce errors and omissions
- Better-prioritized resource use
- Improve cross-team collaboration
- Lower time and cost of operations
45% of tax departments introduced technology and automation to address strained resources – the most common strategy cited. [1]
Thomson Reuters® Indirect Tax Integrations: Connected systems drive business value
ONESOURCE® Determination seamlessly integrates with your ERP, finance, and e-commerce systems to eliminate manual tax management, improve operational efficiency, and enhance business growth.
Connected workflows: From calculation to reporting, Thomson Reuters delivers centralized, scalable control of tax management across all your critical business systems globally.
Connected thinking: A cloud-first tax environment enabled by Thomson Reuters puts valuable information in the right hands at the right time to improve operational efficiency and speed decision-making.
Connected advantage: Thomson Reuters partnership-based approach helps business leaders maximize the strategic value of tax accuracy to realize big-picture business vision and goals.
- Pre-built and customized integrations
- ONESOURCE Determination is relied upon by more than 10,000 companies globally
- Automatic tax rate updates for more than 19,000 tax authorities globally
- 56,000+ jurisdictions over 205 countries, spanning all industries and sectors
- Connected suites of technologies across global trade, direct tax, indirect tax, and transfer pricing
- Up-to-date global tax changes backed by SSAE 18 and ISAE 3402-certified processes
- Tax management tailored to your business needs, regardless of size or geographic reach
ONESOURCE global tax determination software
Get accurate sales, use and excise tax, VAT, and GST for your corporate tax calculations. Stay on top of global indirect tax processes with ONESOURCE Determination.
References
[1] State of the Corporate Tax Department Survey, Thomson Reuters, 2021.
[2] Case Study: Adobe transforms their global indirect tax process with ONESOURCE Determination
