Following this announcement, customers and partners will be given the possibility to have a single access point for managing e-invoicing compliance. In addition, ONESOURCE E-Invoicing provides clients with a pre-built suite of integrations that connect financial systems, such as common enterprise resource planning (ERP) systems.
The centralised platform was developed in order to streamline electronic invoicing management for multinational companies and businesses that are being mandated to comply with multiple e-invoicing regulations and laws around the world. By collaborating with Pagero, Thomson Reuters gives clients the capability to achieve comprehensive e-invoicing compliance, in order to minimise the cost and the overall effort to comply.
Thomson Reuters designed the new solution in order to bring together improved global tax compliance, as well as e-invoicing products in a single place, in an effective and secure manner.
As compliance with e-invoicing mandates or continuous transaction control requirements are processes that accelerate as a key priority in more than 80 countries, Thomson Reuters aims to provide businesses and companies with the needed tools in order for them to improve the procedure of overcoming these challenges. Through ONESOURCE E-Invoicing, the firm will focus on optimizing the manner in which customers accurately and efficiently meet compliance obligations, as well as increasing confidence and security in their suite of products.
ONESOURCE E-Invoicing includes multiple benefits that customers can leverage in the process of managing e-invoice mandates. These provide clients with a centralised control over their procedures, as e-invoicing compliance is supported across networks and borders and managed within a single platform, as well as simplified data management, with economies of scale across countries with secure and universal data mapping. In addition, customers will be enabled to access features that offer reduced costs (including lower implementation costs, efforts, and overall ongoing maintenance with pre-built integrations for any common ERP system, alongside other direct API integrations), and time saved on services (by maximising invoice flow that supports a faster time to payments, including automated data enrichment and e-invoice validation).
The incorporation of E-Invoicing was aimed to optimise the overall ONESOURCE suite, as Thomson Reuters also provides businesses and companies with an end-to-end service that was designed for indirect tax compliance. This includes areas from tax determination and e-invoicing to compliance filing procedures.
ONESOURCE E-Invoicing is set to be highlighted at Thomson Reuters SYNERGY 2023, which will take place from the 5th of November 2023 to the 8th of November 2023.
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