Thomson Reuters today announced a new version of ONESOURCE Operational Transfer Pricing, a software application designed to help corporations proactively apply, manage and monitor their transfer pricing policy, the process by which companies set the price of goods and services sold between entities within an enterprise.
“As a result of the current regulatory tax landscape, multinationals are facing scrutiny on all fronts – from intergovernmental agencies and tax authorities to internal and external auditors,” said Sam Cicogna, vice president and head of ONESOURCE Transfer Pricing, for the Tax & Accounting business of Thomson Reuters. “More than ever before, it’s imperative for companies to have full visibility and control over their transfer pricing data and processes to easily and accurately defend their business strategy.”
The new version of ONESOURCE Operational Transfer Pricing uses big data technology to automate, track and analyze every step of the transfer pricing process. The solution provides robust data collection, comprehensive transaction analysis and efficient P&L segmentation to empower companies to make informed decisions at all levels of the organization.
ONESOURCE Operational Transfer Pricing saves organizations significant time and resources that would otherwise have been spent on laborious manual processes. The simple, streamlined user experience allows customers to easily and efficiently complete data aggregation, analysis and transformation tasks, aiding companies in controlling audit risk.
The solution is part of the ONESOURCE platform, the industry’s leading corporate tax technology. The ONESOURCE suite enables global tax compliance and accounting decision-making. In 180 countries, ONESOURCE helps companies stay in compliance, avoid penalties and audits, save time, and increase efficiency through every step of the tax lifecycle, including corporate income tax, indirect tax, property tax, trust tax, tax information reporting, transfer pricing, data management, and internal processes.
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