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  3. Tax data management solutions | Thomson Reuters ONESOURCE

ONESOURCE

Compliance and reporting made easy with powerful data management solutions

Gain complete control with right-fit direct tax data management solutions to streamline corporate tax compliance and reporting

Energize your direct tax processes with better control over your data

Tax compliance is becoming more complex by the day. With the regulatory tax landscape changing rapidly in the U.S. and across the globe, tax teams need to achieve compliance as well as create actionable, insightful reports for decision-makers across the business.

The tax authorities driving these changes use sophisticated technologies to check that compliance requirements are being met. Tax departments that still depend on manual processes to carry out compliance and reporting won’t be able to keep up. When resources are strained, the risk of non-compliance increases.

With technology to automate tax data management, your tax team can spend less time finding the right data before they can begin their tax work, and more time meeting ever-changing reporting obligations to stay compliant. But data management technology can do much more: It can give your business strategic advantage. With powerful data management tools from Thomson Reuters® ONESOURCE™, your tax department can not only take control of compliance requirements but also leverage the power of your company’s data to provide business insights and tax planning strategies that add value to your organization.

Simplify direct tax compliance and reporting

ONESOURCE Income Tax

With more than 25 years of market-leading U.S. corporate income tax expertise, ONESOURCE Income Tax helps you stay up to date with regulations such as the U.S. Tax Cuts and Jobs Act of 2017 (TCJA) and updates from Biden’s tax policies. Go beyond manual data entry with seamless integration with ONESOURCE Tax Provision.

ONESOURCE Tax Provision

Close faster, file earlier, and free up time to grow your business with a powerful calculation engine. Calculate accurate corporate tax estimates in seconds and enjoy simple data collection and detailed reporting in multiple formats. Future-proof your tax workflow management process with faster access to your data.

ONESOURCE State Apportionment

Manage tax-planning activities across multiple states with this intuitive web-based solution. Plan scenarios to quantify the impact of proposed legislation and remain compliant. ONESOURCE State Apportionment integrates seamlessly with ONESOURCE Income Tax and ONESOURCE Tax Provision to ensure data integrity.

With ONESOURCE, tax departments can gain control and governance over compliance and reporting processes

Go beyond compliance and help your tax team become a business driver. Improve data accuracy and gain total control over reporting with a right-size solution that supports your operational model.

Transform your tax department

Podcast

Tax and Tech Talks: The Predictive Tax Department — What It Is and How to Get There

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Technology can be a competitive differentiator for tax departments and the businesses they support. It should create efficiencies, improve data quality, and provide meaningful insights. But how can a tax department feel confident that it has the right tools and success criteria? Experts share insights on how to build business cases to fund transformation work while reducing costs.

White paper

Getting long-term value from tax technology starts with a successful implementation

Onboarding a comprehensive tax technology solution requires a thoughtful, methodical approach to ensure a smooth transition. Learn from the 10-step plan a leading corporate-payments solution provider followed to get up to speed quickly.

On-demand webinar

Building the modern tax department of the future

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Half of all corporate tax departments feel under-resourced. All feel the impact of a shift to digital tax solutions, according to the 2021 State of Corporate Tax Report Survey. Hear from four experts on how to address current challenges and future-proof your business.

Tap the power of tax data management

Robust tax data management is essential to streamlining your tax planning, provisioning, and compliance processes. Moving beyond manual data operations means integrating enterprise databases and real-time data, eliminating time-consuming data work and freeing up your team to add value to your organization.

Thomson Reuters Data Hub

Easily access and transfer data from all your ONESOURCE applications and third-party tools with a centralized tax data repository. Drive higher-level analysis and leverage your data for planning and strategizing. Automated data management saves time and reduces the risk of manual error.

ONESOURCE DataFlow

Optimize your tax data with an integrated document software solution that allows you to extract data for tax provisioning, compliance, and reporting with ease. Save time on data collection and preparation by standardizing tax data from multiple sources in multiple formats and use a simple and familiar Microsoft Excel interface to enter the tax data you need.

Thomson Reuters + Alteryx

Combine the power of ONESOURCE with Alteryx data science so your team can connect your business systems and third-party analysis tools without IT help. Gather data from multiple sources and deliver clean, ready-to-use reports and analysis.

ONESOURCE is the only resource you need

Easily access your data with an integrated tax data system to gain greater efficiency across your direct tax process. With your tax data taken care of as part of automated and integrated processes, your tax team can easily manage regulatory changes and become a valued partner by providing meaningful insights to your business.

Let’s talk about how Thomson Reuters can help your business

One of the biggest needs that ONESOURCE fills is providing the control and mitigating risk. It also helps with time management in terms of the reporting capability that tax provision has.