Get access to all your indirect tax data for faster analytics and reporting

Get indirect tax reports built on current, accurate data for strategic advantage

Strategic decisions are built on reports that provide fast, accurate, up-to-date tax data and analysis. But many indirect tax teams are still using manual processes, including manual data input and linked spreadsheets to perform complex calculations. They also often rely on customized enterprise resource planning (ERP) solutions that entrench data into silos for each business unit. Although industry tax technology solutions abound, overworked teams may lack the skills, time, training, or desire to adopt them, leading to postponed deployments or underutilized systems.

Indirect tax teams need easy-to-use, intuitive tools that help them do their jobs without requiring significant technical skill and training. A growing remote workforce and the ever-increasing pace of business have strained manual processes to the breaking point. Corporations are embracing digital transformation, product and service innovation, mergers and acquisitions, and global growth. These imperatives are creating new tax responsibilities for already overburdened teams who are striving to keep pace with regulatory change. Consequently, many technology projects may be put on hold as indirect tax teams struggle to address changing priorities and their increased responsibilities. 

Now is the time for indirect tax teams to press forward with next-generation reporting and analytics

The solution is not to delay or cancel technology deployments, but rather to implement the right indirect tax technology. The ideal indirect tax system surfaces critical data in visual and other formats, provides customizable and sharable reporting, and is easy for both tax teams and business stakeholders to use.

By providing ready access to accurate, up-to-date data and analytics capabilities, corporate tax departments can move beyond chaotic and reactive manual processes. The right technology enables them to adopt digital tax workflows and automation capabilities that provide the single version of truth that both tax teams and key stakeholders want. In the corporate tax survey, respondents cited direct cost savings, lower risk, and higher quality and accuracy due to standardization as their top three desired gains for implementing tax technology.

• Analytics capabilities in a single application. You need integrated tax data and analytics to review emerging and historical trends — as well as anomalies. ONESOURCE Determination Reporting and Analytics helps you produce reports quickly or in real time, with ultra-fast processing of vast data sets. Avoid data latency issues or the overnight report crashes that can occur when data is ingested and analyzed from multiple sources using a less scalable solution.
• Visualizable tax data to facilitate stakeholder communications. A graphical interface can help you create charts and graphs instantly — or change views for a different, deeper look. For example, with the graphical interface in ONESOURCE Determination Reporting and Analytics, you can help your business stakeholders understand indirect tax data easily with visuals and hold better conversations to drive faster decision-making.
• Detailed, customizable views. Look for a solution that allows you to view your indirect tax globally or across specific tax types, then switch views to see more granular tax data in context. For example, you could analyze tax spending at a specific plant, county, or state level or by product type or SKU. For ease of use, tax teams should be able to manipulate data within the reporting dashboard itself or export the data into Excel, CSV, or PDF formats for additional analysis.
• Fast and easy standard reporting. A software solution with out-of-the box reporting enables sales and use tax, VAT, and GST professionals to auto-populate reports with the latest data. This can provide your team with instant access to key insights while also giving users time to familiarize themselves with the customization capabilities of a new reporting solution.
• Flexible, shareable tax reporting. Tax analytics solutions should enable the creation of customizable and sharable reports. ONESOURCE Determination Reporting and Analytics provides drag-and-drop functionality to create and save reports for stakeholders. With this solution, you can categorize confidential or tax team-only reports as private, ensuring that they are available only to authorized users.
• Automated report production. Tax automation is a significant efficiency booster. With automated report production, you can set up reports once — and then automate their production moving forward. With a software solution that enables you to simply log in to access the latest data and analytics, you can focus your indirect tax teams on higher-value work, such as analyzing inventory movements; validating and reconciling vendor-paid taxes; and pursuing tax credits, incentives, and exemptions. 

How ONESOURCE Determination Reporting and Analytics can help you accomplish your indirect tax reporting goals and support strategic decision-making for the business

ONESOURCE Determination global tax determination software can help you meet all of your indirect tax processing and reporting needs.

The only industry calculation-to-compliance tax solution that delivers indirect tax rates, logic, rules, and policy from a global perspective, ONESOURCE Determination Reporting and Analytics gives you the next-generation reporting and analytics you need to maintain compliance and support proactive, informed decisions.

ONESOURCE Determination Reporting and Analytics offers end-to-end automation for determining, calculating, and recording your global indirect tax liability that spans 190 countries and 19,000 global tax jurisdictions. It’s a comprehensive, web-based solution for VAT, GST, and sales and use tax that’s used by global leaders to optimize processes and right-size tax spending.

In addition, it provides interfaces to SAP, Oracle, and other ERP platforms, ensuring that you can easily access and aggregate your data. It offers scalable reporting, data visualization, and analytics that grow with your business. You can empower users with:

• Prebuilt, editable starter reports
• Custom report generation with drag-and-drop functionality
• Both shared and private reports

You can even create and share transaction-level reports on all your data with ONESOURCE Determination Reporting and Analytics.

To ensure global deployment and scalability, ONESOURCE Determination Reporting and Analytics uses a cloud-based architecture built on industry-standard technology and state-of-the-art design principles, making it ideal for software security center (SSC) deployment. ONESOURCE Determination Reporting and Analytics is strategically designed to optimize performance, reliability, interoperability, scalability, and security.

An easy-to-use tax reporting dashboard increases adoption and standardization across your organization

With easy access to accurate data and analytics, your indirect tax teams are liberated from repetitive manual tasks and can focus on better decision-making and adding strategic value. The ONESOURCE Determination Reporting and Analytics dashboard (Figure 1) is an essential software tool that adapts to your needs. You do not need to be an expert in technology or bring in IT resources to build a report that addresses your specific needs. You can create the reports and analytics you need on demand.

Use the Filter criteria option to easily filter and customize the data view to meet your needs (Figure 2). Quickly change filters for different views of the data. The data is pulled from the central repository; it is accurate and current, and your reports are updated in real time.

You can focus on reports and analytics that inform your decisions and forecasts. For example, if you’re running a state summary report to view total sales by state, you can gain insight into whether you’ve reached the nexus threshold and now have a tax obligation (Figure 3).

Your indirect tax team can be a strategic partner to the business with ONESOURCE Determination Reporting and Analytics

When you use ONESOURCE Determination Reporting and Analytics capabilities, you will help your tax organization:

• Become a proactive partner. Provide instant access to the tax data your business units need. Enrich your data, so that it becomes increasingly useful over time. Set up sharable, self-service reports so that business stakeholders can always access up-to-date analytics, without delays due to tax team or IT intervention. Set up permissions to empower or control who can generate reports.
• Shape strategic decision-making. Easily generate reports that interpret analytics results, helping business stakeholders understand the impacts of their decisions and analyze tradeoffs. Share insights on emerging trends to prepare for changing payment requirements. Repurpose data for new reports, such as voluntary disclosure agreements or reports required when your tax liability exceeds a nexus threshold.
• Predict tax spending. Avoid tax overpayments, which reduce working capital and require time to recoup. Use ONESOURCE Determination Reporting and Analytics to predict — and pay — the right sales and use tax, VAT, and GST in every tax jurisdiction in which you operate. Sample tax items to validate your approach and avoid errors.
• Capture tax credits and incentives. Your business may be eligible for credits and incentives based on the sales, use, and income tax you pay. Generate the robust transactional data and reports you need to file for — and secure — these key incentives.
• Simplify tax compliance and audits. Create automated, custom reports that are tailored to your compliance and audit needs to quickly demonstrate tax compliance and prepare for audits without straining team resources or needing to add new staff.
• Work more efficiently. Reduce low-level busywork, such as manual data input, Excel table manipulation, data exporting, or report generation. Avoid team errors that lead to tax overpayments, unrealized incentives, and more. Use a centralized dashboard and tools to facilitate collaboration, streamline processes, and gain economies of scale. 

Get more from your indirect tax data with ONESOURCE Determination Reporting and Analytics

Strategic decisions rely on reports that provide fast, accurate, up-to-date data and analysis. Your sales and use tax, VAT, and GST professionals can provide strategic leadership with reporting and analytics from ONESOURCE Determination. Empower your tax team and business users with the insights they need for strategic decision-making, while making it easy to integrate myriad data sources and grow data volumes. Help your business power global growth by automating processes, reducing costs, accurately accounting for taxes, and capturing the full range of tax incentives your business may be entitled to.

Contact one of our indirect tax experts to learn more about ONESOURCE Determination and our reporting and analytics capabilities.