Thomson Reuters Corporation : Industry-first ONESOURCE Operational Transfer
Pricing Software Enables Greater Precision, Transparency and Compliance
New York, Jan. 31, 2013 - Thomson Reuters newest corporate tax and accounting
product enables multinational companies to more effectively and efficiently
manage transfer pricing data, compliance and reporting in real time. Developed
in response to global industry challenges, this product collects, validates
and standardizes data from multiple ledgers into a centralized system,
providing reporting visibility on demand instead of the traditional yearly
process. Armed with this technology, corporate tax professionals can identify
and communicate areas of risk early in the year. This new solution - the
first of its kind in the market - provides an unprecedented level of control,
transparency and reporting detail that allows companies to effectively manage,
forecast and plan transfer pricing throughout the year.
Elizabeth Blatchford is manager of transfer pricing strategy and analysis at
Ford Motor Company, an early adopter of the product. "Our team needed to
streamline an extremely labor-intensive transfer pricing process," she
explains. "With ONESOURCE Operational Transfer Pricing, reporting that used to
take four months can be done in just a week, allowing us to reallocate our
resources to more strategic activities."
ONESOURCE Operational Transfer Pricing helps ensure compliance and minimize
risk by allowing users to monitor and respond to transfer pricing results
before the books close. An automated process reduces margins of error and
significantly cuts down on weeks of manual analysis. The solution also enables
companies to improve management of reserves and uncertainties associated with
transfer pricing risk. Never before has a solution been able to provide this
level of detail.
"Our software is the first and only in the industry that allows for this deep
level of control and reporting," said Joe Harpaz, managing director of the
corporate division within the Tax & Accounting business of Thomson Reuters.
"ONESOURCE Operational Transfer Pricing ensures the integrity and consistency
of intercompany pricing, putting both companies and governments at ease."
For more information on this revolutionary new solution and other products in
the ONESOURCE suite of products, visit
http://www.tax.thomsonreuters.com/operational-tp. To request a demo of this
product, contact firstname.lastname@example.org, or call 212-404-8689.
About Thomson Reuters
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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, Reuters employs approximately 60,000 people and operates in
over 100 countries. Thomson Reuters shares are listed on the Toronto and New
York Stock Exchanges (symbol: TRI). For more information, go to
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information contained therein.
Source: Thomson Reuters Corporation via Thomson Reuters ONE
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