April 09, 2014
$1 Billion Software Company TIBCO Selects Thomson Reuters to Consolidate its Global Sales, Use and Value-Added Tax Determination
NEW YORK – Thomson Reuters announced today that TIBCO Software Inc. has selected ONESOURCE Indirect Tax Determination to automate and centralize the determination, calculation and reporting of sales tax, use tax, goods and services tax (GST), value-added tax (VAT), and other country-specific taxes. TIBCO already uses ONESOURCE Indirect Tax for sales and use tax compliance.
“As a fast-growing, global leader in infrastructure and business intelligence software, TIBCO needed an indirect tax solution sophisticated enough to accommodate our international scope and comprehensive product line, yet agile and scalable enough to keep up with the company’s growth,” said Brent Hogenson, vice president, finance, TIBCO. “We conducted an extensive evaluation of the market and found Thomson Reuters deep ERP expertise and access to the latest tax data made ONESOURCE the best choice.”
“When companies use a best-of-breed solution such as ONESOURCE to consolidate the global VAT and sales and use tax function, they can achieve greater efficiency,” said Eric Ruud, managing director, Thomson Reuters ONESOURCE Indirect & Property Tax. “With our industry-proven technology, validated Oracle integration, and on-the ground local-global expertise, dynamic software companies such as TIBCO can eliminate manual, error-prone configuration and quickly scale tax policies across the company and around the world.”
A gold level member of Oracle PartnerNetwork (OPN), Thomson Reuters achieved Oracle Validated Integration of its ONESOURCE Indirect Tax Integration for Oracle E-Business Suite 12.2, which was released in 2013 (See release: Thomson Reuters’ ONESOURCE Indirect Tax Integration for Oracle E-Business Suite 12.2 Achieves Oracle Validated Integration). Built by an in-house team of experts using Oracle integration best practices, the ONESOURCE Indirect Tax Integration for Oracle E-Business Suite 12.2 gives companies confidence that the solution is functionally sound and performs as tested.
Anticipated benefits using ONESOURCE Indirect Tax Determination include:
- Ability to automatically handle robust customer and product taxability rules
- Access to reliable and relevant tax data
- Seamless integration with finance systems and transactional systems including Oracle
- Rapid deployment of trusted tax platform used by leading global companies
ONESOURCE Indirect Tax Determination is the only patented, fully integrated, end-to-end automated sales and use tax, GST and VAT engine on the market. For more information on the significant features and benefits in the latest release of ONESOURCE Indirect Tax, go to https://tax.thomsonreuters.com/products/brands/onesource/indirect-tax/.
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. For more information, go to http://thomsonreuters.com.