New solution integrated to SAP Ariba cloud services helps businesses accurately and efficiently calculate and comply with global tax regulations for procurement and sales activities
Thomson Reuters has launched ONESOURCE Global Tax for SAP Ariba Solutions, a new offering to help companies using SAP Ariba cloud services to seamlessly calculate and comply with taxes associated with global procurement business transactions. Thomson Reuters ONESOURCE is an industry-leading global corporate tax technology platform that enables tax compliance and reporting in over 180 countries. Thomson Reuters is the first provider authorized by SAP to offer a tax calculation solution that can be connected to SAP Ariba solutions.
“Our global customer base has complex transaction tax requirements, and leveraging Thomson Reuters’ expertise in this area alongside our open platform, they can provide a powerful, yet easy-to-use solution that meets our customers’ needs,” said Dinesh Shahane, chief technology officer, SAP Ariba.
ONESOURCE Global Tax for SAP Ariba Solutions automatically updates country-specific taxation rules that change frequently. This ensures that SAP Ariba customers manage tax compliance against the latest tax regulations, saving companies time and costs by streamlining invoice reconciliation issues and eliminating errors resulting from manual and inaccurate tax rates and rules.
“Companies are obligated to calculate, track, and remit taxes properly when procuring goods and services for their businesses. Relying on vendor purchase orders, invoices, or estimates is not sufficient, and errors can put companies into a penalty situation,” explained Joe Harpaz, managing director for the Corporate segment of the Tax & Accounting business of Thomson Reuters. “We are very excited to be working with SAP Ariba to make tax simple for businesses that participate in the world’s largest marketplace of buyers and sellers by seamlessly integrating to support all facets of taxation accurately and on a global scale.”
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Developed by Thomson Reuters and leveraging SAP Ariba’s API platform, the solution enables SAP Ariba customers using SAP Ariba Buying and SAP Ariba Invoice Management solutions to interface with ONESOURCE, and seamlessly and in real-time access dynamic, reliable, global tax content for transactions on the SAP Ariba platform. ONESOURCE Global Tax for SAP Ariba Solutions enables businesses to save time and resources that would otherwise be spent on error-prone manual processes and put companies at regulatory and penalty risk.
The integration for SAP Ariba Solutions expands on the relationship between Thomson Reuters and SAP, which includes the existing ONESOURCE GlobalNext Tax integration for SAP. Thomson Reuters is also an SAP Pinnacle Award recipient.
Deloitte has been selected by Thomson Reuters as a tax software implementation provider to help businesses implement ONESOURCE Global Tax for SAP Ariba Solutions.
“As a certified implementer of ONESOURCE and SAP Ariba, we are able to assist our clients with product implementation, process efficiency consulting and reducing risk,” said Nathan Andrews, partner, Deloitte Tax LLP and leader for Deloitte’s Tax Management Consulting national practice. “The tax automation achieved through the integration of ONESOURCE and SAP Ariba will help ease companies’ compliance burden. This technology can provide numerous benefits to organizations, including time savings and improved relationships with internal and external stakeholders.”
Deloitte also has more than 16,000 practitioners dedicated to SAP solutions who help businesses achieve value through the use of SAP Ariba solutions and is an award-winning Global SAP Services Partner and a long-serving value-added reseller for SAP Ariba.
To learn more about the benefits of ONESOURCE Global Tax for SAP Ariba Solutions, download the whitepaper from Deloitte and Thomson Reuters. For more information, visit https://tax.thomsonreuters.com/onesource/indirect-tax/erp-integration/sap-integration-ariba/.