The new offering will be added to Thomson Reuters’ ONESOURCE software suite. It will not only help users manage global tax compliance– which is already available within the ONESOURCE software line– but will also bring in e-invoicing compliance by connecting financial systems and ERP systems.
Thomson Reuters has partnered with Pagero to leverage its Smart Business Network that connects buyers and sellers to exchange orders, invoices, payment instructions, and other business documents. Pagero will help automate the process and ensure compliance.
“Compliance with e-invoicing mandates is accelerating as a key priority, and historically it has not been an easy task, with regulations varying significantly across regions,” said Thomson Reuters Head of Product, Transactional Compliance Ray Grove. “We’re excited to be able to support businesses in overcoming these challenges with ONESOURCE E-Invoicing. This helps them accurately and efficiently meet compliance obligations – increasing confidence and peace of mind on what can be a daunting and ongoing task.”
ONESOURCE E-Invoicing offers a single location where customers can manage e-invoicing compliance across networks and borders with ERP and API integrations, and save time with automated e-invoice validation. In addition to e-invoicing and tax support, the ONESOURCE software suite also provides tax determination, indirect compliance, and a certificate manager.
The Canada-based firm, which is known for its news and media content as well as for its legal, tax, and compliance support, recently acquired Casetext, an AI-powered legal research technology company, for $650 million.
Thomson Reuters has demoed at two Finovate events– showcasing its App Store solution at FinovateFall 2012 and at FinovateSpring that same year. The company is listed on the New York Stock Exchange under the ticker symbol TRI and currently has a market capitalization of $57.33 billion.