November 22, 2019
Thomson Reuters ONESOURCE Achieves Certification for SAP S/4HANA® Cloud
Certification for determination engine enhances integration to SAP for better tax calculation.
DALLAS, November 22, 2019 – Thomson Reuters today announced that its ONESOURCE determination engine has been certified for SAP S/4HANA® Cloud. This integration enables real-time, end-to-end tax integrations for determination, calculation and validation of U.S. Sales and Use taxes.
“Thomson Reuters has a longstanding and productive relationship with SAP,” said Chris Carlstead, head of partnerships and alliances for the Corporates customer segment of Thomson Reuters. “This is just the latest innovative solution that is designed to meet the needs of our global tax, accounting and procurement customers.”
ONESOURCE Determination helps customers automatically calculate tax without the headache of managing and maintaining an in-house tax engine or reporting system. The engine contains extensive tax content that Thomson Reuters updates as tax rules change, helping ensure businesses get their tax right the first time, every time.
Across different industries, markets and regions, the rapid pace of change around Sales and Use Tax is making it increasingly difficult to maintain in-house tax engines. The availability and certification of this integration means that users of SAP S/4HANA Cloud can now leverage the benefits offered by ONESOURCE Determination in near real time, regardless of whether they have their tax engine in the public cloud or on-premise.
"This collaboration with Thomson Reuters and its certification of ONESOURCE for SAP S/4HANA Cloud will help reduce the complexities of tax calculation for customers,” said Sven Denecken, senior vice president S/4HANA, head of Product Success and Co-Innovation. “By earning this certification, Thomson Reuters continues to demonstrate its commitment to our joint customers’ success.”
Thomson Reuters was one of the first technology providers to co-develop an integration between SAP Ariba® and a tax engine, bringing the global, automated and near real-time indirect tax determination of ONESOURCE Determination to SAP Ariba Solutions.
In addition, earlier this year, Thomson Reuters received the 2019 SAP® Pinnacle Award for Global Partner of the Year in the Integration category.
Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world’s most global news service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.
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Senior Director, Communications