Thomson Reuters, SAP Ariba team up for global tax intelligence
ONESOURCE, a corporate tax technology platform, enables tax compliance and reporting in 180 countries worldwide.
Thomson Reuters has launched ONESOURCE Global Tax for SAP Ariba Solutions, global corporate tax technology platform a new offering to help companies using SAP Ariba cloud services to seamlessly calculate and comply with taxes associated with global procurement business transactions and sales activities. The multinational media and business information says that the new offering enables tax compliance and reporting in over 180 countries and that Thomson Reuters is the first provider authorised by SAP to offer a tax calculation solution that can be connected to SAP Ariba solutions.
“Our global customer base has complex transaction tax requirements, and leveraging Thomson Reuters’ expertise in this area alongside our open platform, they can provide a powerful, yet easy-to-use solution that meets our customers’ needs,” said Dinesh Shahane, chief technology officer (CTO), SAP Ariba.
ONESOURCE Global Tax for SAP Ariba Solutions automatically updates country-specific taxation rules that change frequently. This ensures that SAP Ariba customers manage tax compliance against the latest tax regulations, saving companies time and costs by streamlining invoice reconciliation issues and eliminating errors resulting from manual and inaccurate tax rates and rules.