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Thomson Reuters has launched an e-invoicing solution, Onesource, which aims to simplify e-invoicing compliance for businesses that operate globally with the use of integrations and API connections to industry, institutions and partners.
According to the tech company, this centralised platform is designed to streamline electronic invoicing management for large firms who are being mandated to comply with e-invoicing regulations around the world.
As of this year, more than 80 countries have mandated e-invoicing or continuous transaction control requirements, and this figure could potentially surge by 2025 as governments prioritise tax reform and real-time reporting.
Onesource gives customers a single access point to manage e-invoicing compliance. It also offers pre-built integrations connecting financial systems, including common enterprise resource planning (ERP) systems.
Additionally, a collaboration with Pagero supports customers in achieving comprehensive e-invoicing compliance that minimises the cost and effort to comply.
Onesource aims to bring together “the best in global tax compliance and e-invoicing” into a single solution.
Ray Grove, head of product and transactional compliance at Thomson Reuters, said: “We’re seeing an abundance of tax reforms and greater sophistication of tax authorities worldwide, and for tax departments in multinational corporations this requires a step change in how they keep pace with new rules and regulations to mitigate risks for their business.
“Compliance with e-invoicing mandates is accelerating as a key priority, and historically it has not been an easy task, with regulations varying significantly across regions.”
He added: “We’re excited to be able to support businesses in overcoming these challenges with Onesource. This helps them accurately and efficiently meet compliance obligations – increasing confidence and peace of mind on what can be a daunting and ongoing task.”
