Forrester Consulting Total Economic Impact ™ study
Earlier this year, Thomson Reuters commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study and examine the potential ROI that would realize by deploying ONESOURCE Indirect Tax. The goal was to create a framework to identify the cost, benefit, flexibility, and risk that would affect the investment decision. Get your complimentary copy of The Total Economic Impact of Thomson Reuters ONESOURCE Indirect Tax to receive a framework to evaluate the potential impact of ONESOURCE Indirect Tax on your organization. Learn what a composite organization was able to achieve over three years.
Through seven customer interviews and data aggregation, Forrester concluded that Thomson Reuters ONESOURCE Indirect Tax has the following three-year financial impact.
Summary of benefits
Three-year risk adjusted
- Reduction in annual error impact: $2.6 M
- Efficiency gains for compliance team: $493.8K
- Efficiency gains for tax team: $468.1K
- IT support and maintenance efficiency gains: $297.1K
- ROI: 120%
- Net present value: $2.1M
- Benefits present value: $3.8 M
ONESOURCE Indirect Tax by the numbers
- 50% of the compliance team workload reallocated to higher-value tasks
- Reduced error rate on invoices to 1%
- Significantly reduced burden on IT to manage changes
Voice of the customer
"The time efficiency is brilliant. It has made our VAT return process quicker. It frees up more time for the people that are preparing the returns and the people that are reviewing them." — Tax Manager, Manufacturing
"I’ve observed my colleagues stressing and losing sleep over these audits. Having this type of centralization solution makes me sleep much better at night because I know that if an audit does come through, I have the information readily available." — Tax Director, Water Filtration
This document is an abridged version of a case study commissioned by Thomson Reuters, titled “The Total Economic Impact of Thomson Reuters ONESOURCE Indirect Tax, June 2022”
Forrester Research, Inc. All rights reserved.
Commissioned by Thomson Reuters