SOURCE: Thomson Reuters

Thomson Reuters

March 18, 2010 09:30 ET

Thomson Reuters Announces Most Comprehensive Transaction Tax Integration With Oracle Suite 12

Global Transaction Tax Solution Provides Superior Support for Complex, Multi-National Companies Using Oracle

SAN RAMON, CA--(Marketwire - March 18, 2010) -  The Tax & Accounting business of Thomson Reuters has now integrated its latest version of the Sabrix Application Suite with Oracle E-Business Suite Release 12. Building on previous integration support for Oracle 12, this latest solution provides the broadest support for global transaction tax management covering sales, use and value-add tax (VAT), across order-to-cash and procure-to-pay processes for multi-national companies.

Fortune 1000 companies needing comprehensive transaction tax software, especially those with global deployments and multiple countries going live simultaneously, are fully exploiting Sabrix's proven solution to ensure improved tax accuracy and compliance with confidence.

"As the first transaction tax vendor to support an Oracle 12 integration in 2008, Sabrix has gained tangible experience in enterprise-grade implementations spanning the computer, software, construction, grocery, manufacturing, and energy and utilities markets," said Pam Kostka, vice president marketing, Sabrix Tax Services, part of the Tax & Accounting business of Thomson Reuters. "With a long history of integrating with Oracle and assisting customers with complex tax requirements, current and future customers can benefit from the valuable lessons learned as a result of our first-hand experience and long-standing technology investment."

The Sabrix Application Suite integration was built by Thomson Reuters' in-house team of experts in compliance with Oracle third party ISV development guidelines.

Advanced features include:

  • Automation of the eBTax setup process, making implementation and deployment easier, faster and less error-prone.
  • Country-based Regime to Rate flow configuration ideal for larger customer rollouts which tend to be phased by country or region.
  • The most robust vendor charged tax and accrual functionality for procure to pay process flows, including tax determination and calculation on purchase orders, validation of vendor charged tax on accounts payable invoices, as well as accrual for sales tax and accounting for VAT.
  • Tax rules, rates and determination logic maintained within Sabrix, not Oracle, allowing for lower and simplified maintenance within Oracle eBTax.

Going beyond Oracle tax features available in eBTax, the Sabrix Application Suite integrated with Oracle 12 comes with SAS 70 Type II certified tax content, provided by an in-house tax research team. Content is automatically updated, eliminating error-prone manual processes and the need to continuously monitor tax law changes. Additional features only available via the Sabrix Application Suite integrated with Oracle 12 include:

  • Comprehensive audit support
  • Single solution for Oracle and non-Oracle systems
  • Ability to address local reporting needs
  • Access to in-house tax research experts

About Thomson Reuters

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com.

The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Headquartered in New York, Tax & Accounting has major operations in Dallas, Ann Arbor (Michigan), London, Sydney, and Toronto, and offices in nine countries. For more information, go to http://thomsonreuters.com/products_services/taxacct/.

Sabrix and Sabrix Managed Tax Service are trademarks of Thomson Reuters. All other company and product names are trademarks or registered trademarks of their respective holders.

Contact Information