Case study
The new standard for reporting: Fast, accurate, and insightful
ABB centralizes and automates with Thomson Reuters ONESOURCE Statutory Reporting
For statutory reporting teams, quality — minimizing errors — is the top priority, with 53% of organizations ranking it as the most critical success metric in their record-to-report (R2R) processes. Most organizations plan to reduce errors through automation; nearly 80% of respondents confirm their current change priority is significantly increasing its use.
93% centralized
statutory reporting through the Center of Excellence (CoE)
Up to 80%
of statutory financial statement data automatically completed
21 templates
successfully rolled out across 39 legal entities in a single year
Automation can address the key source of quality reduction, namely human error. Survey respondents also highlighted plans to increase their use of data analytics and dashboarding (52%), confirming the value of more informed decision-making through business intelligence.
However, 93% report they remain at basic or intermediate maturity when it comes to use of automation and technology for R2R processes, relying on manual workflows that limit scalability, accuracy, and insight. Only 4% consider themselves “advanced,” revealing a sharp gap between ambition and execution.
This case study explores how ABB partners with Thomson Reuters, using ONESOURCE Statutory Reporting to close that gap, transforming fragmented processes into a streamlined, insight-rich reporting engine.
ABB: Industrial expertise meets digital intelligence
ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. With operations in over 170 countries and a workforce of more than 105,000 employees, ABB combines deep industry expertise with the latest innovation to drive transformation across utilities, industry, transportation, and infrastructure.
The company invests $1.3 billion in technology research and development (R&D) annually, reflecting its commitment to operational excellence and digitalization. In short, ABB is a pioneer in adopting intelligent solutions that streamline complex processes, including successfully enabling technology in the R2R process by centralizing and automating statutory financial reporting across diverse jurisdictions.
Rising to the challenge
The ABB Statutory Compliance Services team plays a central role in managing the complexity of global financial reporting. With 48 full-time employees and counting, the team oversees audit coordination, statutory financial statement preparation, and ownership of key reporting processes across jurisdictions. They also maintain ABB’s Global ERP Financial Statement Version (FSV) and have recently taken on the implementation and technical support of Thomson Reuters ONESOURCE. As part of a broader transformation, the team is now leading transitions from localized reporting functions to a centralized Thomson Reuters ONESOURCE Center of Excellence, bringing consistency, control, and scalability to statutory reporting across the enterprise.
Solution approach
The ABB team emphasizes that this transformation is not a “big bang,” and has deployed Thomson Reuters ONESOURCE Statutory Reporting over a structured, multiphase transformation journey since 2020:
- 2020–2021 — Basic. Statutory processes and audit coordination are managed locally, with minimal standardization and no shared tools. Manual workflows dominated, limiting visibility and consistency across entities.
- 2021–2022 — Developing. ABB introduced a tracking tool to improve transparency and began defining a governance framework. Audit coordination was centralized within the Center of Excellence (CoE), laying out the foundation for broader process alignment.
- 2023–2025 — Advanced. Technology was deployed to optimize statutory reporting, including integration with ABB’s Global ERP system and the Thomson Reuters ONESOURCE platform. This phase enabled full visibility into reporting workflows and accelerated centralization across regions.
- 2025 onward — Targeted. ABB is moving toward a highly centralized model, with 93% of statutory reporting managed through the CoE and only 7% remaining decentralized due to country-specific regulations. Processes are fully standardized, technology is deeply embedded, and audit coordination is entirely centralized.
“Thomson Reuters offers bilingual country templates, updated twice a year. That was a big feature, the game changer.”
Renata Marchwinska
Head of Statutory Compliance, ABB
Implementation was managed centrally, following a standardized, repeatable process across countries to ensure consistency and control. Each deployment began with local acknowledgment, formal kickoff, and structured status updates, supported by centralized documentation delivery — particularly around account mapping. The rollout followed a clear sequence of planning and design, user acceptance testing (UAT), and deployment, all reinforced by targeted training and internal guidelines.
Post-implementation, the CoE technical team provided ongoing support and advisory services, including issue resolution, template upgrades, and additional training to ensure sustained adoption and process maturity.
The key outcomes and benefits behind the shift
Key outcomes
CoE centralization
- The implementation served as a catalyst for transitioning from local to centralized reporting.
- Thomson Reuters ONESOURCE Statutory Reporting provided embedded expertise and a standardized process framework.
- Reliance on fragmented, country-specific statutory knowledge was reduced.
Fewer iterations with internal and external teams
- Automation of core statutory workflows minimized back-and-forth.
- Improved data clarity and consistency through governed ERP-to-ONESOURCE integration.
- Audit coordination and stakeholder alignment were streamlined.
Lower outsourcing costs and dependency
- Centralized ownership reduced the need for external statutory support.
- Standardized templates and processes enabled internal teams to scale.
- Technical advisory from the CoE replaced ad hoc vendor engagements.
“The big accelerator for our centralization was the purchase of the ONESOURCE tool.”
Renata Marchwinska
Head of Statutory Compliance, ABB
Benefits
| Previous: Manual processes | Current: Semi-automated | |
| Global processes | Local, in-country processes due to language skills and knowledge of local regulations | Mandatory bilingual country financial statement templates and local regulatory country content updates |
| Transparency and consistency | Fully manual process for preparing notes and disclosures using Word or Excel | Pre-defined, automated country templates |
| Efficiency and accuracy of data | Disconnect between financial statements and source trial balance generated from the ERP system Adjustments to statutory ledger kept outside of source ERP |
Direct link to global ERP system with dual statutory ledger |
| Data entry | All data, including opening balance, filled in manually | Automated opening balances and data refresh, including notes and disclosures, based on updated trial balance |
| Audit process | Extended audit needs due to large, manual files Need to manage multiple versions of financial statements and tax calculations |
Audit work improvement |
Source: Thomson Reuters 2025
“ABB templates are now giving us up to 80% of all data completed just based on the trail balance input.”
Renata Marchwinska
Head of Statutory Compliance, ABB
Drive statutory reporting excellence with Thomson Reuters ONESOURCE
ABB’s journey with Thomson Reuters ONESOURCE Statutory Reporting demonstrates how a global organization can move from fragmented, manual workflows to a centralized, insight-driven reporting model. By embedding technology, standardizing processes, and empowering a CoE, ABB not only improved quality and audit readiness but also reduced costs and complexity across its statutory landscape.
“In 2024 there were 21 templates implemented for 39 legal entities without any significant issues, and in line with the project timeline.”
Renata Marchwinska
Head of Statutory Compliance, ABB
Experience Thomson Reuters
ONESOURCE Statutory Reporting
