Thomson Reuters Rolls Out ONESOURCE Indirect Tax on Oracle Cloud Infrastructure With Oracle Autonomous Database

By AIT News Desk On Jul 20, 2021

Onesource Expands Global Footprint, Runs Natively on Oracle Cloud

Oracle announced that Thomson Reuters, a leading provider of business information services, turned to Oracle Cloud Infrastructure (OCI) as part of its multi-cloud strategy to make its indirect tax software available to customers worldwide. In addition, Thomson Reuters will build out the application on Oracle Autonomous Database to help simplify processes and elevate performance with a cloud-first solution.

Thomson Reuters ONESOURCE enterprise cloud solutions provide small businesses to multinational organizations 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.

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“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,” says 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.”

“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. Thomson Reuters is a member of the Oracle PartnerNetwork (OPN), and Thomson Reuters solutions are available in the Oracle Cloud Marketplace, where customers can search for available applications and services to find the best business solutions for their organization.

Oracle Autonomous Database helps address virtually all the complexities of operating a cloud database, including securing data and developing data-driven applications. It automates provisioning, configuring, securing, tuning, scaling, patching, backing up, and repairing the cloud database. Unlike other fully managed cloud data warehouse solutions that only patch and update their service, it features elastic, automated scaling, performance tuning, security, and a broad set of built-in converged database capabilities that enable queries and data changes across multiple data types and workload types, machine learning analysis, automated data loading, and data visualizations.