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February 26, 2013

ONESOURCE Indirect Tax from Thomson Reuters provides companies with new cloud-based model to achieve compliance with confidence

Cloud version of software manages sales and use tax and VAT with same trusted platform that powers over $1.7 trillion in transaction taxes for companies worldwide

Thomson Reuters introduces today ONESOURCE Indirect Tax in the cloud, an end-to-end solution that manages the entire indirect tax lifecycle.

Available to companies of all sizes regardless of business operation complexity, ONESOURCE Indirect Tax in the cloud leverages the proven and patented global on-premise software that is trusted by many Global 2000 companies. ONESOURCE Indirect Tax in the cloud is designed to lower the total cost of ownership and enable rapid scaling capabilities of cloud-based computing.

“We developed ONESOURCE Indirect Tax in the cloud so that our customers can select the deployment method that works best for their business,” said Gary Allen, vice president of technology for the Tax & Accounting business of Thomson Reuters. “Whether our clients select our cloud solution or our on-premise one, they will be using the industry’s only indirect tax solution with a patented tax determination engine that is relied upon by leading companies in the U.S. and globally to achieve compliance with confidence.”

To ensure the utmost security, the solution is hosted at the company's state-of-the-art, highly secure, certified hosting center and undergoes:   

  • An annual SSAE 16 audit performed by an AICPA-accredited firm.
  • An annual application security assessment performed by a leading third-party security firm.
  • Weekly vulnerability infrastructure scans.  
  • Static and dynamic code analysis that is incorporated into the software development lifecycle to mitigate the risks of application layer vulnerabilities.

ONESOURCE Indirect Tax in the cloud delivers a consolidated approach to achieving higher degrees of indirect tax compliance, which results in greater accuracy and more control over tax policies across the globe, and improves cash flow by reducing or eliminating penalties, interest and overpayments. ONESOURCE Indirect Tax in the cloud is an end-to-end solution that manages the entire indirect tax lifecycle, including:

  • Tax determination and calculation.
  • Tax research and content.
  • Tax policy configuration and tax results analysis reporting.
  • Real-time integrations to business applications.
  • Compliance activities to meet returns filing, remittance and audit requirements.
  • Compliance solution to reduce the time and effort required to complete the monthly returns’ process. The sales and use tax compliance software gives preparers expanded access and flexibility, ease of use, greater accuracy, improved efficiency and reduced risk. 
  • Exemption certificate management.

Availability

ONESOURCE Indirect Tax in the cloud is available now. For more information on ONESOURCE Indirect Tax, visit: http://onesourceindirecttax.com.


Thomson Reuters
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, science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London 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 (symbol: TRI). For more information, go to http://thomsonreuters.com.