Every year, Thomson Reuters indirect tax customers contend with thousands of sales, use and value-added tax rate changes – and the corresponding calculation and remitting process in hundreds of jurisdictions.
To facilitate this process for customers and make solutions easily available to them, Thomson Reuters Indirect Tax has traditionally focused on integrations with the two major Enterprise Resource Planning (ERP) system vendors, Oracle and SAP. In the past year, we’ve also added NetSuite and the Microsoft Dynamics® family of products to our core competency and focus. These four key ERP systems are strategically important to Thomson Reuters, as they serve a majority of the enterprise market we’ve historically targeted.
Reinventing the way we work and remaining relevant to our customers and the world they live in is essential to our business.
This focus is highlighted by the investment Thomson Reuters makes in these areas: Each ERP integration runs as an independent practice with a leader, a set of business systems analysts, developers and dedicated quality assurance teams. The whole product life cycle is managed and owned by Thomson Reuters. The teams working on these key integrations have an average of over 15 years of ERP experience each, including two licensed CPAs. This level of focus and experience assures that our integrations are market-leading products and address the complex and unique tax needs of every customer. This is especially true of our ONESOURCE® Indirect Tax business, in which we help companies comply with and remit sales and value- added taxes in thousands of jurisdictions.
With the speed at which new ERP and e-commerce systems are becoming available to the market, the current model of Thomson Reuters owning all integrations internally doesn’t scale. Reinventing the way we work and remaining relevant to our customers and the world they live in is essential to our business. We have taken the strengths and know-how from our 17 years of building leading integrations and built a Developer Community. This allows our partners to build the same robust, market-leading integrations with the ONESOURCE Indirect Tax platform. The Developer Community provides the tools for a third party (firm, independent software vendor, value-added reseller or individual) to build the integrations. We wrote a detailed integrator playbook that not only focuses on the technical aspects of building an integration, but more so on the business processes and unique tax-use cases that a customer expects a robust tax integration to solve. In addition, we offer an optional verification process for our partners. This assures the users of the product that the integration provided via a third party is sound and meets the tax calculation challenges they expect. Coupled with a robust business partnership program, our Developer Community partners will be enabled to position, sell and support these integrations.
Adding new integrations will allow our existing customers to further leverage the ONESOURCE Indirect Tax suite by keeping their tax policy maintained once in a central ONESOURCE Indirect Tax Determination instance and connecting multiple ERP systems to it. This will simplify mergers and acquisitions by allowing customers to connect existing systems to ONESOURCE and become quickly integrated into the existing ONESOURCE system landscape. It also removes the need to merge them first into the company’s core ERP system. A later transition to the core ERP (if desired) will then be a simpler and smoother process. A company can also follow a two-tier ERP strategy, where some of the business runs on a major-brand ERP and other smaller business units use a lower-tier ERP for their needs. Overall, these strategies will make the best use of the ONESOURCE Indirect Tax suite and lower a company’s total cost of ownership.
We are excited to see our Developer Community program resonating well with our partners. Currently, we have four partners designing, developing and testing their first integrations. Expect to see JD Edwards, Magento, Microsoft Dynamics NAV and SAP Business One integrations available soon. Partners will be selling and supporting these integrations, but the Thomson Reuters ONESOURCE Indirect Tax sales team will be able to provide basic overviews on each of them and to connect customers with the appropriate partner.
The ONESOURCE Indirect Tax Developer Community is already showing some early success. DuCharme, McMillen & Associates, Inc. (DMA), a long-term partner of ONESOURCE Indirect Tax, has built a JD Edwards integration using the newly launched Developer Community and they have verified its solution with Thomson Reuters.
Check out the ONESOURCE Indirect Tax Developer Partner Program.
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