New York, Nov. 5, 2013 - The Tax & Accounting business of Thomson Reuters, a Gold level member of Oracle PartnerNetwork (OPN), today announced it has achieved Oracle Validated Integration of its ONESOURCE Indirect Tax Integration for Oracle E-Business Suite 12.2. ONESOURCE Indirect Tax can provide a robust transaction tax solution for global companies with complex tax requirements.
To achieve Oracle Validated Integration, Oracle partners are required to meet a stringent set of requirements that are based on the needs and priorities of the customers*. With increased ease of set-up and configuration, the ONESOURCE Indirect Tax Integration for Oracle E-Business Suite 12.2 helps eliminate manual, error-prone configuration and helps companies scale tax policies across the company.
"Thomson Reuters has a strong relationship with Oracle as a valued partner, not only in the area of tax technology, but also in leveraging Oracle products in our data centers and throughout our enterprise," said Rick King, COO Technology at Thomson Reuters and executive sponsor with Oracle. "This latest validation underscores our commitment to the continual investment to build, maintain, and support solutions for use with Oracle Applications, such as Oracle E-Business Suite."
"Achieving Oracle Validated Integration gives our customers confidence that the ONESOURCE Indirect Tax Integration for Oracle E-Business Suite 12.2 is functionally sound and performs as tested," said Kevin O'Brien, senior director, ISV and SaaS Strategy, Oracle. "For solutions deployed on-premise, in the cloud, or both, Oracle Validated Integration applies a rigorous technical review and test process that helps to reduce deployment risk and improves the user experience of the partner's integrated offering."
The ONESOURCE Indirect Tax Integration for Oracle E-Business Suite 12.2 was built by an in-house team of experts using Oracle integration best practices. It employs standard Oracle integration techniques to enable the determination and calculation of taxes in the order-to-cash and procure-to-pay business processes. In each of these application areas, ONESOURCE Indirect Tax offers enhanced flexibility that enables the passing of additional customer-specific data elements, which can be critical for the accurate determination of usage and taxability within the ONESOURCE Indirect Tax Determination Software.
With the ONESOURCE Indirect Tax Integration for Oracle E-Business Suite 12.2, companies can:
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Virtually eliminate error-prone, manual calculations at the transaction level as ONESOURCE Indirect Tax Determination automatically determines and calculates tax based upon the attributes of a transaction
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Virtually eliminate manual jurisdiction code or tax code assignments during transaction processing to support increased tax accuracy and appropriate accounting/GL posting
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Help remove the need to store and maintain tax rates within Oracle as tax rules, rates and logic are maintained within the ONESOURCE Indirect Tax Determination Software
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Access robust, vendor-charged tax and accrual functionality for procure-to-pay process flows, including tax determination and calculation on purchase orders, and validation of vendor-charged tax on accounts payable invoices
ONESOURCE Indirect Tax Integration for Oracle E-Business Suite 12.2 is available now. Pricing is on a subscription basis and is based on a company's transaction tax complexity. For more information, visit https://tax.thomsonreuters.com/products/brands/onesource/indirect-tax/oracle-integration/ (https://tax.thomsonreuters.com/products/brands/onesource/indirect-tax/oracle-integration/)
About Thomson Reuters
Thomson Reuters is a leading source of intelligent information for businesses and professionals. We combine industry experience with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property, science and media market segments, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI). For more information, go to http://thomsonreuters.com (http://thomsonreuters.com/)
About Oracle Validated Integration
Oracle Validated Integration, available through the Oracle PartnerNetwork (OPN), gives customers confidence that the integration of complementary partner software products with Oracle Applications and specific Oracle Fusion Middleware solutions have been validated, and the products work together as designed. This can help customers reduce risk, improve system implementation cycles, and provide for smoother upgrades and simpler maintenance. Oracle Validated Integration applies a rigorous technical process to review partner integrations. Partners who have successfully completed the program are authorized to use the "Oracle Validated Integration" logo. For more information, please visit Oracle.com at http://www.oracle.com/us/partnerships/solutions/index.html (http://www.oracle.com/us/partnerships/solutions/index.html).
About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) Specialized is the latest version of Oracle's partner program that provides partners with tools to better develop, sell and implement Oracle solutions. OPN Specialized offers resources to train and support specialized knowledge of Oracle products and solutions and has evolved to recognize Oracle's growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to differentiate through Specializations. Specializations are achieved through competency development, business results, expertise and proven success. To find out more visit http://www.oracle.com/partners (http://www.oracle.com/partners).
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*The scope of Oracle Validated Integration for tax partner solutions is United States sales and use tax only
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Source: Thomson Reuters Corporation via Thomson Reuters ONE
