Thomson Reuters, a global content and technology company, has introduced ONESOURCE E-Invoicing, a centralised platform aimed at simplifying electronic invoicing compliance for multinational businesses.
The launch of ONESOURCE E-Invoicing addresses the increasing need for businesses operating globally to adhere to e-invoicing regulations enforced worldwide, through its design which offers users a streamlined approach to managing e-invoicing compliance.
It provides a unified access point for compliance management and offers pre-built integrations, connecting to common enterprise resource planning (ERP) systems. Additionally, through a collaboration with Pagero, it supports customers in achieving comprehensive e-invoicing compliance while minimising associated costs and efforts. The solution combines global tax compliance and e-invoicing capabilities into one cohesive platform.
The launch of ONESOURCE E-Invoicing comes at a time when over 80 countries have mandated e-invoicing or continuous transaction control requirements. This figure is expected to rise significantly by 2025, as governments worldwide prioritize tax reform and real-time reporting.
ONESOURCE E-Invoicing offers several benefits to customers managing e-invoice mandates, including centralized control, reduced costs, simplified data management, and time savings.
With the addition of E-Invoicing, Thomson Reuters now provides a comprehensive solution for indirect tax compliance, covering tax determination, e-invoicing, and compliance filing.
Ray Grove, Head of Product, Transactional Compliance, Thomson Reuters, said, “We’re seeing an abundance of tax reforms and greater sophistication of tax authorities worldwide, and for tax departments in multinational corporations this requires a step change in how they keep pace with new rules and regulations to mitigate risks for their business.
“Compliance with e-invoicing mandates is accelerating as a key priority, and historically it has not been an easy task, with regulations varying significantly across regions. We’re excited to be able to support businesses in overcoming these challenges with ONESOURCE E-Invoicing. This helps them accurately and efficiently meet compliance obligations – increasing confidence and peace of mind on what can be a daunting and ongoing task.”
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