Industry-first ONESOURCE Operational Transfer Pricing Software Enables Greater Precision, Transparency and Compliance
New York, Jan. 31, 2013 - Thomson Reuters newest corporate tax and accounting
product enables multinational companies to more effectively and efficiently
manage transfer pricing data, compliance and reporting in real time. Developed
in response to global industry challenges, this product collects, validates and
standardizes data from multiple ledgers into a centralized system, providing
reporting visibility on demand instead of the traditional yearly process. Armed
with this technology, corporate tax professionals can identify and communicate
areas of risk early in the year. This new solution - Â the first of its kind in
the market - provides an unprecedented level of control, transparency and
reporting detail that allows companies to effectively manage, forecast and plan
transfer pricing throughout the year.
Elizabeth Blatchford is manager of transfer pricing strategy and analysis at
Ford Motor Company, an early adopter of the product. "Our team needed to
streamline an extremely labor-intensive transfer pricing process," she explains.
"With ONESOURCE Operational Transfer Pricing, reporting that used to take four
months can be done in just a week, allowing us to reallocate our resources to
more strategic activities."
ONESOURCE Operational Transfer Pricing helps ensure compliance and minimize risk
by allowing users to monitor and respond to transfer pricing results before the
books close. An automated process reduces margins of error and significantly
cuts down on weeks of manual analysis. The solution also enables companies to
improve management of reserves and uncertainties associated with transfer
pricing risk. Never before has a solution been able to provide this level of
"Our software is the first and only in the industry that allows for this deep
level of control and reporting," said Joe Harpaz, managing director of the
corporate division within the Tax & Accounting business of Thomson Reuters.
"ONESOURCE Operational Transfer Pricing ensures the integrity and consistency of
intercompany pricing, putting both companies and governments at ease."
For more information on this revolutionary new solution and other products in
the ONESOURCE suite of products, visit
http://www.tax.thomsonreuters.com/operational-tp. To request a demo of this
product, contact email@example.com, or call 212-404-8689.
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Source: Thomson Reuters Corporation via Thomson Reuters ONE