4 months ago
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The caller enlargement of the concern betwixt Thomson Reuters and SAP marks a important measurement guardant successful taxation reporting automation. The integration of ONESOURCE Sales & Use Tax Compliance into SAP Document and Reporting Compliance for SAP S/4HANA aims to assistance businesses streamline their taxation processes much efficiently, leveraging the robust capabilities of SAP technologies.
The integration follows erstwhile collaborations wherever Thomson Reuters introduced 3 ONESOURCE solutions certified arsenic SAP Endorsed Apps: ONESOURCE Determination for SAP S/4HANA and SAP ERP (US/CA), ONESOURCE Determination (US) for SAP S/4HANA Cloud, nationalist edition, and ONESOURCE Tax Provision for SAP S/4HANA Cloud. The caller integration allows businesses to utilize ONESOURCE Sales & Use Tax Compliance straight wrong SAP Document and Reporting Compliance. This seamless acquisition is besides designed to automate and streamline the mentation and filing of income and usage taxation returns crossed the United States.
Ray Grove, Head of Corporate Tax and Trade astatine Thomson Reuters, further highlighted that the integration aims to supply superior taxation compliance solutions straight wrong the ERP system. For businesses utilizing SAP technologies, this integration besides automates the mentation process, which tin assistance escaped up clip and guarantee compliance with the latest U.S. regulations. Additionally, this attack underscores Thomson Reuters’ committedness to delivering precocious taxation compliance exertion done its strategical concern with SAP.
Integrating ONESOURCE Sales & Use Tax Compliance with SAP Document and Reporting Compliance
Moreover, the integration of ONESOURCE Sales & Use Tax Compliance with SAP Document and Reporting Compliance addresses the increasing request for businesslike and close taxation reporting solutions among businesses operating successful the United States. This solution further provides a harmonized idiosyncratic acquisition wrong the SAP S/4HANA environment, enhancing information transparency and making it easier to hint transactions backmost to their source. This capableness is important for businesses aiming to navigate the intricate requirements of taxation compliance confidently.
Elvira Wallis, SVP and Global Head of SAP Globalization, noted that the ongoing collaboration betwixt SAP and Thomson Reuters helps code the analyzable taxation compliance needs of customers successful the United States. By enabling the mentation of taxation returns wrong SAP Document and Reporting Compliance, powered by ONESOURCE Sales & Use Tax Compliance, SAP customers tin acquisition a much businesslike instrumentality mentation process. This integration besides enhances information transparency, making it easier to way transactions wrong SAP S/4HANA, yet solving cardinal concern compliance challenges.
The ONESOURCE Sales & Use Tax Compliance solution supports a standardized process for preparing and filing statutory reports, covering implicit 850 state, county, and city-specific forms. The Thomson Reuters taxation probe squad continuously updates the contented to guarantee compliance with the latest regulations. This broad attack ensures that businesses tin negociate their taxation reporting obligations much effectively, reducing the hazard of errors and penalties.
Embracing an Open Ecosystem for Seamless Integration
As businesses progressively question integrated solutions wrong their exertion ecosystems, Thomson Reuters emphasizes the value of an unfastened and compatible environment. The company’s committedness to interoperability and connectivity is evident done its robust APIs, designed to facilitate seamless integration with SAP solutions. These APIs leverage components disposable connected the SAP Business Technology Platform (BTP), enabling businesses to optimize their taxation compliance processes.
This strategical attack underscores the worth of a connected ecosystem, wherever businesses tin utilize their preferred solutions without facing compatibility issues. The integration with SAP Document and Reporting Compliance exemplifies however Thomson Reuters and SAP are moving unneurotic to code the evolving needs of their customers, providing tools and platforms that heighten ratio and accuracy successful taxation reporting.
The enhanced concern betwixt Thomson Reuters and SAP signifies a forward-thinking attack to taxation compliance, peculiarly successful the discourse of U.S. regulations. By integrating ONESOURCE Sales & Use Tax Compliance with SAP Document and Reporting Compliance, businesses tin payment from a much streamlined and transparent taxation reporting process. This collaboration not lone helps businesses prevention clip and trim risks but besides reinforces the committedness of some companies to enactment their customers with cutting-edge solutions.
