ONESOURCE Indirect Tax Archives - VRƵ Institute https://blogs.thomsonreuters.com/en-us/innovation-topics/onesource-indirect-tax/ VRƵ Institute is a blog from VRƵ, the intelligence, technology and human expertise you need to find trusted answers. Tue, 16 Jun 2026 12:59:37 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.3 The future of indirect tax compliance is touchless /en-us/posts/innovation/the-future-of-indirect-tax-compliance-is-touchless/ Tue, 16 Jun 2026 12:59:37 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=71386 Governments around the world are overhauling how they collect and verify tax. Digital reporting requirements, mandatory e-invoicing, and real-time data submissions are becoming standard practice,not just in Europe, but across Latin America, Asia-Pacific, and beyond. The pace is accelerating.

The European Union’s new package of reforms to theValue-AddedTax in the Digital Age (ViDA),is one such example,representingboth a fundamental compliance change as well as a major technological transformation. July 2030 marks the point when cross-border e-invoicing and digital reporting must be working at scale across all EU member states. However, the pressure on businesses is already here. Many member states have begun introducing e-invoicing mandates, creating a patchwork of national requirements that are different from one another yet all moving towards the same end goal.

For multinational companies, this creates a growing coordination problem. Finance and tax teams must reconcile data from multiple internal systems, interpret rules that vary significantly by country, and meet filing deadlines thatdon’tleave much room for error. A mistakedoesn’tjust mean rework,it can mean audits, penalties, and reputational risk.

Until recently, most teams have managed this through a combination of spreadsheets, manual processes, and hard-won institutional knowledge. That approach is reaching its limits, and the time cost is real. For many finance and tax teams, indirect tax compliance consumes weeks of resource every period, gathering data, chasing exceptions, and reconciling figures across systems under the pressure of immovable deadlines.

The compliance landscape is also changing shape. Real-time reporting through e-invoicing and periodic indirect tax compliance are no longer separate workflows. With agentic AI, they converge bringing together e-invoicing, reconciliations, and compliance preparation into a single, integrated automated workflow, closing the gap that has long been a source of risk and rework.

Where AI fits in

The promise of AI in complianceisn’tto replace human judgment,it’sto remove the volume of repetitive, low-value work that currently consumes most of the time. Pulling data from different systems, checking for inconsistencies, flagging mismatches before they become filing errors: these are tasks thatdon’trequireexpertiseto execute, but consume the time of people who have it. The shorthand for what that looks like in practice is touchless compliance,a process that moveslargely onits own, with human attention focused on review and exceptions rather than data wrangling.That capability is powered by CoCounsel, VRƵ AI technology that has already surpassed one million professionalsworldwide, andnow brought to the complexity of global indirect tax compliance.

ONESOURCE Indirect Compliance powered by CoCounsel is built around that ideaand isgenerally availablestarting July 3.Itcan importdatafrom any company’s financial system,transactionalrecords, and where available, drafts provided by tax authorities themselves. It alsoworks toidentifyand resolve issues before deadlines arrive. Rather than a scramble at period-end, the goal is a steady, auditable process that reaches a review-ready state with time to spare.


“Getting new countries on board could take weeks, sometimes months. Having ONESOURCE Indirect Compliance powered by CoCounsel will help us identify changes to mappings, guide us through configuration, and streamline the whole process. These changes will genuinely be transformative for a global operation like ours.”

— Kevin Escott,Executive Director, Corporate Functions Technology, JLL


Trust is the harder problem

Automating compliance is technically achievable. The harder challenge is making automation that practitioners actually trust, especially when their name is on the filing. ONESOURCE Indirect Compliance powered by CoCounsel is built to meet that standard because it incorporates Fiduciary-Grade AI™, where itsoutputs are transparent, verifiable, and defensible in high-stakes environments.Touchless compliance is only valuable if the trail it leaves behind isoneyou’dbe comfortable defending.

What comes next

Digital tax reporting requirements are still in its early stages globally. The countries that have moved fastest (for example: Brazil, Poland, and France) are being watched closely by others. More government mandates are coming, and the window for manual workarounds is narrowing.

The organizations best positioned forwhat’sahead are the ones building structured, auditable compliance processes now–before the next wave of requirements lands.

Visit our websitefor more informationon ONESOURCE Indirect Compliance powered by CoCounsel.

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VRƵ-SAP Integrations Empower Customers to Simplify Tax Compliance /en-us/posts/innovation/thomson-reuters-sap-integrations-empower-customers-to-simplify-tax-compliance/ Wed, 11 Sep 2024 08:24:04 +0000 https://blogs.thomsonreuters.com/en-us/?post_type=innovation_post&p=63021 Our long-standing partnership with SAP enables our customers to make the most of cutting-edge technology to streamline processes, save time, and support accuracy in tax reporting. With multinational corporations confronting a rapidly changing world – on the regulatory and technology fronts – our efforts are more important than ever.

The latest VRƵ-SAP collaboration expands on a series of solutions integrations to help multinationals better manage increasingly complex and evolving tax regulations. Below is an overview of how our integrations are helping multinationals comply and succeed.

Streamlining ESG reporting compliance

Integrating the VRƵ ONESOURCE Statutory Reporting with the SAP Sustainability Control Tower empowers customers to efficiently manage environmental, social and governance (ESG) data by preparing, gathering, and filing ESG data seamlessly within a unified solution. Our aim is to enable large businesses operating in, or connected to, the European Union (EU) comply with the new Corporate Sustainability Reporting Directive (CSRD), which is slated to begin in January 2025.

The CSRD mandates all businesses within its scope to report on sustainability indicators under the European Sustainability Reporting Standards (ESRS) framework. The newest VRƵ-SAP integration is a major step forward in simplifying ESG reporting for global organizations and helping businesses achieve their sustainability goals.

Building on our SAP partnership

Th latest expansion of our partnership with SAP builds on earlier integrations, including leveraging SAP S/4HANA to help customers automate U.S. tax reporting. Integrating ONESOURCE Sales & Use Tax Compliance with SAP Document and Reporting Compliance for SAP S/4HANA helps multinationals automate and more easily file sales and use tax returns in the United States directly from SAP Document and Reporting Compliance – saving time and minimizing risk.

That integration came just after three VRƵ ONESOURCE were solutions certified as SAP Endorsed Apps:  for SAP S/4HANA and SAP ERP (US/CA),  for SAP S/4HANA Cloud, public edition, and  for SAP S/4HANA Cloud. These certifications give customers added confidence in having the right software in their tax tech stack to support their enterprises.

In addition, ONESOURCE Indirect Tax achieved SAP Certification for integration with S/4HANA Cloud, private edition. This helps customers better use ONESOURCE Indirect Tax to perform accurate tax calculations and simplify technical requirements, while staying compliant with evolving tax regulations and reducing the need for custom coding and content.

Meeting customers where they are

All of these initiatives have allowed VRƵ to deliver superior tax compliance solutions directly to customers where they are working – within their Enterprise Resource Planning (ERP) system. Our customers require integrated and compatible products and services within their technology stack, with solutions that work seamlessly across platforms and devices.

We’re committed to fostering an open ecosystem, providing customers with the tools and platforms to connect with their preferred solutions. Ultimately, this empowers our customers with better management of tax liability and planning and enables them to make real-time tax decisions with increased efficiency.

It’s exciting to find new ways to help our customers work smarter, not harder. Our customers rely on us for best practices and industry-leading technology and it’s rewarding to help their businesses maximize compatibility, flexibility, speed, and global compliance.

 

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