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Thomson Reuters ONESOURCE and Oracle

Thomson Reuters ONESOURCE and Oracle. The Tax & Accounting Business of Thomson Reuters Stephen McGerty, Head of ONESOURCE Income Tax, Provision and WorkFlow Angie FauntLeRoy, Principal Business Systems Analyst September 30, 2014. AGENDA.

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Thomson Reuters ONESOURCE and Oracle

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  1. Thomson Reuters ONESOURCE and Oracle The Tax & Accounting Business of Thomson Reuters Stephen McGerty, Head of ONESOURCE Income Tax, Provision and WorkFlow Angie FauntLeRoy, Principal Business Systems Analyst September 30, 2014

  2. AGENDA ONESOURCE OVERVIEWCORPORATE TAX OVERVIEWDIRECT TAX OVERVIEWINDIRECT TAX OVERVIEW

  3. Stephen McGerty Bio Head of ONESOURCE Income Tax, Provision and WorkFlow Stephen has been performing Tax Technology work since 2001 when he was a founding partner of the company that developed ONESOURCE Tax Provision.  Stephen has over 20 years experience with I.T. consulting and has worked at companies such as IBM, Harvard Pilgrim Healthcare, Bankers Trust and MetLife.  In addition to his experience in tax technology, he has also worked in fields as diverse as supply chain management, 401(k) recordkeeping and video game development. Stephen holds a bachelor’s and a master’s degree in Computer Science from Trinity College Dublin.

  4. Angie FauntLeRoy Bio Principal Business System Analyst Angie FauntLeRoy is a Principal Business Systems Analyst with Thomson Reuters Tax and Accounting responsible for Oracle Integrations. In her role she prepares product requirements and functional designs. She supports the product releases management process and their timely delivery to our clients. Angie is in her sixth year with Thomson Reuters. Prior to Thomson Reuters Angie worked as an Oracle consultant for twelve years at several fortune 500 companies in many industries as an Oracle implementer. She specialized in the distribution and financial applications. Angie started her career in accounting, holding various accounting positions, including Assistant Controller. Angie is a Certified Public Accountant and holds a Bachelor of Arts degree from the University of Northern Iowa. 

  5. ONESOURCE OVERVIEW

  6. $14B annual revenue* • Over $800M FOC (free operating capital) • 56,000 Employees • Offices in 100+ countries News Financial & Risk GRM ONESOURCE Intellectual Property & Science CS PROFESSIONAL SUITE Legal CHECKPOINT Tax & Accounting

  7. Thomson Reuters Fast Facts of Fortune 500 companies use Thomson Reuters legal research offerings. professionals use our financial desktops including Eikon. people are reached by Thomson Reuters News daily. 49/50 top banks choose Thomson Reuters Accelus.

  8. Thomson Reuters Fast Facts of the Top 100 CPA firms, 94 of the top 100 law firms and 95 of the Fortune 100 use Thomson Reuters Checkpoint. individuals use IP & Science products. land parcels around the world are managed by local governments using Thomson Reuters Aumentum software. are captured and published by Reuters every year.

  9. Tax & Accounting’s Growing Global Presence 5% 7% 10% 9%

  10. Thomson Reuters Products Oracle Products

  11. ONESOURCE Hosting • ONESOURCE applications and data centers are subject to annual, third-party SSAE16 audits • The Thomson Reuters Data Center is largely comprised of Oracle servers • All upgrades, maintenance, and support are handled by Thomson Reuters, reducing the administrative reliance on our clients internal IT teams

  12. CORPORATE TAX OVERVIEW

  13. The Tax Department – From the I.T. Point of View Tax departments have to comply with a wide array of obligations. Do you know what your tax department does? • Direct Tax: Revenue or Profit based • Monthly tax expense accrual calculation • Annual Tax Returns, by country • State Apportionment calculations • Financial Statement tax footnotes • Indirect Tax: Transaction based (Sales and Use Tax, VAT) • VAT / Sales and Use Tax determination • VAT / Sales and Use Tax Returns • State Exemption tracking

  14. The Tax Department – From the I.T. Point of View(Continued) Tax departments buy or build a jumble of software solutions: • Control Risks • Authorization policies not enforced • No audit trails • No long term retention policy • Unaware of IT Corporate Standards • Technology best practices • Open source considerations • Security vulnerabilities • Business Continuity Risks • Backups • Redundancy • Key person dependencies • Long term support of “solutions”

  15. DIRECT TAX OVERVIEW

  16. ONESOURCE Direct Tax: “End-to-End” Tax Deliverables Tax J/E ERP G/L 1120 10-K Tax Footnote MS Access DB Tax J/E ONESOURCE DIRECT TAX Tax Provision Tax Automation ERP G/L 1120 ERP G/L Connection (GLM) Tax Workpaper Management Tax Return Generator 10-K Tax Footnote

  17. DataManagement Core Applications Analytics &Planning Reporting FileRoom Feature Financial Reporting Trial BalanceDataManagement ERP/GL’s ONESOURCE Calendar ProvisionComplianceEstimates ONESOURCE WorkFlow Manager EntityManager Feature Workpapers & Data Collection Data Providers Income Tax Compliance ONESOURCE AuditManager ERP & OtherSources State Apportionment &State Planning • Sales • Property • Payroll

  18. INDIRECT TAX OVERVIEW

  19. ONESOURCE Indirect Tax • Complete end-to-end tax automation from Determination through to Compliance • Oracle Gold Partner • Collaborative Vendor Support Program member • Oracle Validated Integrations • Robust Oracle experience • Internal integration and services team since Oracle 10 • Deep global and enterprise experience: • CISCO, Twitter, GE, Agilent, Towers Watson, JDSU

  20. ONESOURCE Indirect Tax:“End-to-End” Business Apps X X X X X X Manual Tax Policies Oracle 12 Global Transactions Manual Tax Policies Liability Data Determination Reporting Checking Filing Remittance ONESOURCE INDIRECT TAX Determination Compliance Business Apps Liability Data Remittance Filing Checking Automated Determination Reporting 2013 2012 2011 Global Tax Policy Audit Defense Data

  21. Tax Department Independance • Fully function Tax Determination Engine • IT no longer needs to manage tax in Oracle – Tax department in charge of tax engine • Self service tax content updates • IT no longer needs to apply updates – Tax Department can apply content updates • Self service tax policy and business control • IT no longer needs to code logic into the ERP – Tax Department can configure and maintain their specific business logic in Sabrix • Self service tax and ad-hoc reporting • IT no longer needs to create reports – Tax Department has access to canned tax centric reports as well as an ad-hoc report

  22. Oracle 12 Integration Highlights • Developed and maintained by Thomson Reuters since 10.x • Most experienced internal Oracle team • Quick support and superior integration development • Global Experience and Support • VAT Invoice Messaging, Extended Tax Codes, Triangulation, etc. • Automated EBTAX setup for implementation and beyond • Streamline ongoing maintenance and OU setups • Most flexible integration to support SUT, VAT, etc. • Extra 80 Data Elements – not a single data string • Oracle Inventory movement use tax solution

  23. Why Thomson Reuters ONESOURCE? Only end-to-end global tax management solution Single platform for visibility to all tax activities and data Global commitment to support our customers Leading tax solution for enterprise applications Proven for global tax projects Global expansion & acquisitions

  24. Visit us at our booth: Moscone West #3553

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