ONESOURCE Direct Tax Applications We're with You from Steel to Structure.

Like building structures, the tax lifecycle is a long journey. From data management to analytics, only Thomson Reuters ONESOURCE™ has a comprehensive offering accounting for every step™ of your direct tax processes.

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Case Study

System Made of Steel

“ONESOURCE increases our efficiency tremendously every year, giving us more time to be strategic and plan for the future, including what technology tool we’ll implement next.”

Judy Hamric

Judy Hamric

Taxologist
VP of Tax,TMS International Corporation

Hear from Taxologist Judy Hamric on how ONESOURCE helped increase tax provision efficiency by 50 percent, allowing for more time with her family.

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Retooling an outdated system

International companies with foreign subsidiaries are regularly challenged to bring together tax data from various regions worldwide. With an overwhelming amount of data, it becomes time-consuming and cumbersome to continue with spreadsheet-based tax processes. This, coupled with the efficiency, accuracy and visibility that tax technology offers, draws companies like TMS International Corporation to ONESOURCE for direct tax needs.

“As our business grew, we knew we had too much volume to continue using a spreadsheet-based process because of the inefficiency behind it. We started with ONESOURCE for provision and grew from there. There are other tools out there, but ONESOURCE is the strongest.”

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Assembling data from multiple sources

It's common for tax departments to work with trial balance data from multiple general ledgers, ERPs or other extracts. Using ONESOURCE, companies can enjoy harmonized, consolidated data, with complete automation from trial balance uploads. Data stays up-to-date, even as book numbers continue to change. ONESOURCE also enables standardized workpapers and reports that are utilized globally to facilitate controls for SOX compliance.

“It is unbelievable how much time we saved with ONESOURCE, how nice the workpapers look, and how standardized they are. Everyone accepts them and knows how to read them. Everyone knows what the reports are accomplishing. And SOX compliance is a beautiful thing.”

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On the road to results

With the right technology, you can expect a dramatic return on investment. Some companies see internal efficiency and audit efficiency rise significantly, in addition to experiencing greater time savings, accuracy and visibility across all tax processes. ONESOURCE brings both compliance and research tools in house, giving users better oversight and control of these processes while saving costs.

“ONESOURCE allows us to do things better, faster and more efficiently through better control and management of our tax processes. It’s that simple”

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A strong foundation for the future

The tremendous efficiency ONESOURCE delivers each year allows you to redirect time to strategic tax activities, like planning and analysis. Organizations can work on their next technological venture, such as planning to increase international controls, efficiencies and closing processes.

Download case study PDF – 306KB

“ONESOURCE increases our efficiency tremendously every year, giving us more time to be strategic and plan for the future, including what technology tool we’ll implement next.”

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The Direct Tax Suite

From data management to analytics, only Thomson Reuters ONESOURCE has a comprehensive offering for every step of your direct tax processes.

Process Management

ONESOURCE gives you a centralized location to standardize and streamline all of your tax work so you can make quick decisions, track accuracy and report with confidence.

Data Management

Take ownership of your data. ONESOURCE applications manage your trial balance data, as well as standardize your tax packages and workpapers with controls, validation and year-over-year data recall.

Compliance and Reporting

Imagine filing your federal, state and international tax returns an entire month early and delivering ironclad tax provisions. Our compliance and reporting applications simplify your processes and provide reliable reports to give you a strong foundation for success.

Analytics

From provision visualizations to key performance indicator dashboards, ONESOURCE provides powerful analytics to validate your results, determine best practices and benchmark against your peers.

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One System for Every Direct Tax Step

Staying on top of changing direct tax regulations is a challenge—how can technology help? Unfold the possibilities by accounting for every step of the direct tax life cycle with ONESOURCE.

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