Content and technology company Thomson Reuters has introduced a centralised platform, dubbed ONESOURCE E-Invoicing, to optimise electronic invoicing (e-invoicing) management for multinational businesses.
The new platform will enable customers to have single access point to manage e-invoicing compliance.
ONESOURCE E-Invoicing provides pre-built integrations connecting financial systems, including common enterprise resource planning (ERP) systems. It brings together the best in global tax compliance and e-invoicing into one solution, said the company.
Furthermore, the new centralised platform makes e-invoicing compliance easier for businesses operating across the world with integrations and application programming interface (API) connections to sector, institutions, and partners.
According to Thomson Reuters, a partnership with Pagero supports customers to attain extensive e-invoicing compliance that reduces the cost and effort to comply.
Through the addition of E-Invoicing to ONESOURCE suite, Thomson Reuters will offer businesses an end-to-end solution for indirect tax compliance, from tax determination and e-invoicing to compliance filing.
The new platform is also expected to maximise invoice flow to support a faster time to payment, with automated e-invoice validation and data enrichment.
Thomson Reuters transactional compliance product head Ray Grove said: “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.”
Earlier this year, Thomson Reuters completed its $500m acquisition of US-based provider of 1040 tax automation software and services SurePrep.
