Thomson Reuters ONESOURCE

Automate, streamline, and gain insights across the entire tax lifecycle.

by Thomson Reuters · Corporate Tax

Thomson Reuters ONESOURCE screenshot

Executive Summary

Thomson Reuters ONESOURCE is a leading, cloud-native tax and accounting technology platform that provides a holistic suite of solutions for corporate tax departments and IT personnel worldwide. It automates and streamlines the entire tax lifecycle, including direct tax, indirect tax, global trade, and statutory reporting. The platform integrates with existing ERP systems, offering real-time tax calculations, automated data management, and efficient compliance processes to reduce manual effort and minimize risks.

Use Cases

  • Automating global direct and indirect tax compliance and reporting. [19]
  • Streamlining corporate tax provision processes and financial close. [4, 10]
  • Managing global trade compliance, including denied party screening and customs documentation. [23, 25]
  • Generating statutory reports for multiple countries with localized content. [2, 18]
  • Performing tax planning, scenario modeling, and risk assessments to optimize tax strategies. [3]
  • Integrating tax data seamlessly with existing ERP systems for real-time calculations. [5, 10]

Features

Visibility

  • Enterprise-wide Visibility: Provides a unified view across all tax and trade operations, enabling centralized management and control. [2]
  • Drill-down Capabilities: Allows users to quickly drill down from consolidated amounts to the lowest level of detail for in-depth analysis and transparency. [9, 10]
  • Real-time Data Access: Offers instant access to accurate tax data, liberating teams from manual tasks and supporting faster, data-driven decision-making. [26]
  • Configurable Reporting: Enables the creation of customizable reports tailored to specific tax department needs and regulatory requirements. [9]

Intelligence

  • AI-Powered Sales and Use Tax: Leverages AI to speed up sales tax compliance, cut audit exposure, and manage data import, validation, and tax return mapping. [8, 12]
  • Automated Tax Adjustments and Workpapers: Maps GL accounts to tax-sensitive codes, automating tax adjustments and workpapers with intelligent formulas and controls. [20]
  • Predictive Tax Spending: Helps predict tax spending and accurately account for sales and use tax, VAT, and GST across all operating jurisdictions. [26]
  • Global Trade Lane Analyzer: Analyzes global trade data to identify potential risk factors, savings opportunities, and optimize transportation and compliance costs. [23]

Support

  • Customer Centre Access: Provides access to a dedicated customer portal for resources, support, and managing communication preferences.
  • Regular Content Updates: Ensures country-specific templates and regulatory content are regularly updated to maintain compliance with evolving tax laws. [2]
  • Implementation Support: Offers structured implementation phases including discovery, configuration, data migration, and user training.

Technical Specifications

Architecture
Cloud-native SaaS, Multi-tenant cloud, Private cloud options available
Deployment
Cloud/SaaS
Authentication
SSO, User Group Customization, Access Rights Management
API Available
Yes
MCP Server
No

Infrastructure

  • Oracle Cloud Infrastructure (OCI)
  • AWS

AI/ML Stack

  • Machine Learning
  • NLP
  • CoCounsel

Security & Compliance

Certifications: SOC 2 Type II, ISO 27001, GDPR

Encryption: AES-256 at rest (implied by enterprise standards), TLS 1.2 256-bit encryption in transit. [7]

Data Residency: EU

Pricing

Model
Custom enterprise
Starting Price
Contact sales
Target Customer
Mid-market to Enterprise
Contract Type
Annual, Multi-year discounts
Free Trial
Yes, 30 days (for some modules like Global Trade), Custom demo available [22, 23] (credit card required)

Ratings & Reviews

G2: 4/5 (123 reviews) · Capterra: [object Object]/5 · Gartner: [object Object]/5

About Thomson Reuters

Thomson Reuters Corporation is a Canadian multinational content-driven technology conglomerate that integrates trusted content and technology to support decision-making for professionals and organizations. It offers specialized software and insights across legal, tax, accounting, compliance, government, and media sectors, serving a diverse customer base globally.

Founded: 2008 · Headquarters: Toronto, ON, Canada · Employees: 10,001+ · Public

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