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SOURCE Thomson Reuters Tax & Accounting
ONESOURCE Indirect Tax customers can now virtually seamlessly upgrade to the latest version of Oracle applications
NEW YORK, Oct. 10, 2013 /PRNewswire/ -- Thomson Reuters today announced the successful completion of the Oracle E-Business Suite 12.2 beta program. Based on the company's long-standing membership in Oracle PartnerNetwork (OPN), Thomson Reuters participated in the beta program for its ONESOURCE Indirect Tax solution, which is designed to enable mutual customers to immediately upgrade to the latest version of Oracle E-Business Suite 12.2.
Oracle E-Business Suite 12.2 introduces Online Patching to help dramatically reduce maintenance downtimes, helping companies ensure the high availability of the mission-critical systems running their global operations. Working alongside Oracle, Thomson Reuters installed, configured, tested, and provided feedback on Oracle E-Business Suite 12.2 prior to the public release, which was made last month.
Already known as global indirect tax innovators, with the patented Universal Tax Engine®, this latest news reinforces Thomson Reuters' commitment to being one of the first to market with the latest technology – whether through integration with complementary technology providers or via innovation of its award-winning tax solutions.
The major Oracle E-Business Suite 12.2 testing activities included:
"Our participation in Oracle's beta program showcases our commitment to the Oracle family of products," said Stefan Blumer, senior director technology at Thomson Reuters. "Our mutual customers benefit from the early assurance that Oracle E-Business Suite 12.2 works easily with the ONESOURCE Indirect Tax Integration for Oracle 12 and will allow them to upgrade to Oracle E-Business Suite 12.2 without further delay."
"Oracle's Release 12.2 Online Patching feature is a revolutionary breakthrough for customers of all sizes, including many of our largest most complex customers for whom a maintenance downtime is a critical business interruption," said Cliff Godwin, senior vice president, Oracle Applications Development. "Oracle's ability to deliver the Online Patching feature was made possible by working with many valued partners, including Thomson Reuters. We are delighted that the ONESOURCE Indirect Tax solution is available to our mutual customers."
The ONESOURCE Indirect Tax Integration for Oracle 12 was built by an in-house team using Oracle integration best practices to enable the determination and calculation of sales, use, and value-added taxes in the order-to-cash and procure-to-pay business process. With enhanced flexibility, the integration enables the passing of additional customer-specific data elements critical for the accurate determination of usage and taxability within the ONESOURCE suite of products.
ONESOURCE Indirect Tax is a suite of tax and accounting solutions by Thomson Reuters developed to help multinational companies effectively and efficiently comply with the growing complexity of indirect tax requirements around the world. This includes sales and use tax, VAT, GST, and other industry and country specific transaction taxes. Thomson Reuters is a Gold level member of Oracle PartnerNetwork (OPN).
About Thomson Reuters
Thomson Reuters is a leading source of intelligent information for businesses and professionals. We combine industry experience with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property, 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 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 http://thomsonreuters.com
About Oracle PartnerNetwork
Oracle PartnerNetwork (OPN) Specialized is the latest version of Oracle's partner program that provides partners with tools to better develop, sell and implement Oracle solutions. OPN Specialized offers resources to train and support specialized knowledge of Oracle products and solutions and has evolved to recognize Oracle's growing product portfolio, partner base and business opportunity. Key to the latest enhancements to OPN is the ability for partners to differentiate through Specializations. Specializations are achieved through competency development, business results, expertise and proven success. To find out more visit http://www.oracle.com/partners.
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