Thomson Reuters expands SAP partnership to aid customers in automating US tax reporting

TORONTO, June 10, 2024 – Thomson Reuters (TSX/NYSE: TRI), a global content and technology company, today announced an expansion of its partnership with SAP as it integrates ONESOURCE Sales & Use Tax Compliance with SAP Document and Reporting Compliance for SAP S/4HANA. Available now, the new integration supports businesses using SAP technologies with automating and filing sales and use tax returns in the United States directly from SAP Document and Reporting Compliance via a unified user experience, helping to streamline processes, save time, and support accuracy in tax reporting to minimize risk.

This follows earlier solutions integrations, including three Thomson Reuters ONESOURCE solutions certified as SAP Endorsed Apps: ONESOURCE Determination for SAP S/4HANA and SAP ERP (US/CA), ONESOURCE Determination (US) for SAP S/4HANA Cloud, public edition, and ONESOURCE Tax Provision for SAP S/4HANA Cloud.

Ray Grove, Head of Corporate Tax and Trade at Thomson Reuters said: “By deepening our ONESOURCE integrations with SAP S/4HANA, we are delivering superior tax compliance solutions directly to customers where they are working – within their ERP system. For businesses using SAP technologies, we are bringing them the ability to utilize ONESOURCE Sales & Use Tax Compliance to file domestic statutory reports. This automates the preparation process, can free up their time, and helps ensure confident compliance with the latest U.S. regulations. Our work with SAP underscores our commitment to equipping customers with best-in-class tax compliance technology through our long-standing partnership.” 

Elvira Wallis, SVP and Global Head of SAP Globalization added: “Continued collaboration between SAP and Thomson Reuters helps us to address the complex tax compliance needs of our customers operating in the United States. By providing companies with the ability to prepare tax returns in SAP Document and Reporting Compliance, powered by ONESOURCE Sales & Use Tax Compliance, SAP customers can benefit from a harmonized user experience, a more efficient return preparation process, and enhanced data transparency. This can make it easier to trace transactions back to the source within SAP S/4HANA, ultimately helping to solve key business compliance challenges.”

Key features of ONESOURCE Sales & Use Tax Compliance integration with SAP Document and Reporting Compliance

ONESOURCE Sales & Use Tax Compliance facilitates a standardized and repeatable process for preparing and filing domestic statutory reports within SAP Document and Reporting Compliance. A leader in e-filing support, it automates the preparation process across every US geography encompassing over 850 state, county, and city, signature-ready official return forms. Regulatory changes are constantly monitored, and content is continually updated by the Thomson Reuters tax research team, assuring full compliance with the latest regulations in each location. 

This new integration with SAP Document and Reporting Compliance offers improved efficiency, accuracy, and transparency, as users can manage the end-to-end returns process from form generation to submission within SAP Document and Reporting Compliance, directly on the system of record, SAP S/4HANA.

An open ecosystem

Increasingly today, customers require integrated and compatible products and services within their technology stack, with solutions that work seamlessly across platforms and devices. Thomson Reuters is committed to fostering an open ecosystem, providing firms with the tools and platforms to connect with their preferred solutions. 

With a focus on interoperability and connectivity, Thomson Reuters APIs (Application Programming Interfaces) are built on robust engineering principles, ensuring integration with SAP solutions, leveraging components available on SAP Business Technology Platform (BTP) and enabling customers to optimize their tax compliance processes.

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Thomson Reuters

Thomson Reuters (TSX/NYSE: TRI) (“TR”) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world leading provider of trusted journalism and news. For more information, visit tr.com.

Contact 

Kirsty Bennett
Director, Customer and Product PR
kirsty.bennett@thomsonreuters.com

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