Thomson Reuters Leverages Oracle Cloud to Introduce ONESOURCE

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Thomson Reuters has deployed Oracle Cloud Infrastructure (OCI) as part of its multi-cloud strategy to make its indirect tax software available to customers worldwide.

Additionally, the company will build out the application on Oracle Autonomous Database to help simplify processes and elevate performance with a cloud-first solution.

“We are excited to bring our cloud offering for ONESOURCE Indirect Tax Determination to the Oracle Cloud Infrastructure and begin a robust collaboration with Oracle,” said Sunil Pandita, President of Corporates, Thomson Reuters.

“Our customers will continue to receive unmatched data accuracy in more than 56,000 global taxing jurisdictions, along with the cloud security imperative to any technology solution. We’re happy to run our next generation indirect tax application natively on OCI and open up our indirect tax determination engine to Oracle customers worldwide.”

Thomson Reuters ONESOURCE enterprise cloud solutions provide small businesses to multinational organisations with a single, unified tax and trade engine that automates the ever-evolving tax landscape.

ONESOURCE Indirect Tax Determination, powered by Oracle Cloud Infrastructure, continues to expand upon Thomson Reuters cloud-based offerings to help customers around the globe tackle the simplest to the most complex transactional tax calculations.

OCI’s built-in security, high availability, and superior price-performance will help customers around the world automate their transactions without having to worry about capacity constraints.

Using the recently announced Oracle Cloud Lift Services program, Thomson Reuters worked closely with Oracle Cloud engineers who provided hands-on expertise, technical tools and cloud engineering resources, at no additional cost, to speed the development of the cloud-native tax application.

“A leader for many decades, Thomson Reuters is among the many companies adopting Oracle Cloud Infrastructure for its price-performance advantages, security, global footprint and dedicated cloud engineering services,” said Mark Hura, Executive Vice President, North America Cloud and Technology, Oracle. “We’re excited to work with Thomson Reuters as it joins the Oracle Cloud Marketplace where our enterprise customers can easily access its global indirect tax solutions.”

Oracle and Thomson Reuters will jointly market and co-sell ONESOURCE and other cloud-native solutions in an alliance designed to expand Thomson Reuters’ existing global footprint. Oracle’s 30 Cloud Regions worldwide offer close proximity for each Thomson Reuters location and help address data sovereignty requirements, helping to ensure customers know exactly where their data is being processed.

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