LOVAT vs. Thomson Reuters ONESOURCE

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
LOVAT
Score 10.0 out of 10
N/A
Tax software for VAT/sales tax filing. LOVAT platform collects all tax data across any sales channel and files VAT returns in a minute. Accurate VAT calculation, tax due reminders, automatic filing, free data storing with the real-time support of tax expert team available. LOVAT enables the user to register a business for VAT and sales tax purposes in foreign countries where it stores goods or where it is selling products or services. LOVAT specializes in helping…
$40
Best option for small sellers and new companies
Thomson Reuters ONESOURCE
Score 7.1 out of 10
N/A
Thomson Reuters ONESOURCE is a portfolio of tax and accounting technology for corporations designed to help users boost collaboration with departments and partners and ensure seamless tax compliance no matter where a company does business.N/A
Pricing
LOVATThomson Reuters ONESOURCE
Editions & Modules
Start-Up
40/month
Best option for small sellers and new companies
Standard
80/month
Most popular option for your VAT Compliance
Premium
500/month
Top quality level of VAT Compliance
No answers on this topic
Offerings
Pricing Offerings
LOVATThomson Reuters ONESOURCE
Free Trial
YesNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
YesNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional DetailsFor the complete version of the pricing with all addons and to calculate your fee please visit our website
More Pricing Information
Community Pulse
LOVATThomson Reuters ONESOURCE
Top Pros
Top Cons
Features
LOVATThomson Reuters ONESOURCE
Type of tax
Comparison of Type of tax features of Product A and Product B
LOVAT
10.0
12 Ratings
24% above category average
Thomson Reuters ONESOURCE
7.7
2 Ratings
2% below category average
Sales and Use Taxes10.07 Ratings8.02 Ratings
VAT / GST Taxes10.012 Ratings8.01 Ratings
Cross-border Taxes00 Ratings8.01 Ratings
Energy and Fuel Taxes00 Ratings7.01 Ratings
Tax Reporting & Compliance
Comparison of Tax Reporting & Compliance features of Product A and Product B
LOVAT
10.0
12 Ratings
25% above category average
Thomson Reuters ONESOURCE
7.8
3 Ratings
0% below category average
Geolocation for Tax Assessment9.911 Ratings8.02 Ratings
Tax Data Reporting10.012 Ratings9.03 Ratings
Compliance Administration Management10.011 Ratings7.03 Ratings
Tax Document Management10.012 Ratings8.02 Ratings
3rd-Party Software Integrations00 Ratings8.02 Ratings
Tax Exemption Processing00 Ratings8.02 Ratings
Complex Tax Scenario Management00 Ratings7.02 Ratings
Best Alternatives
LOVATThomson Reuters ONESOURCE
Small Businesses
TaxJar
TaxJar
Score 8.1 out of 10
TaxJar
TaxJar
Score 8.1 out of 10
Medium-sized Companies
ADP SmartCompliance
ADP SmartCompliance
Score 8.4 out of 10
LOVAT
LOVAT
Score 10.0 out of 10
Enterprises
ADP SmartCompliance
ADP SmartCompliance
Score 8.4 out of 10
ADP SmartCompliance
ADP SmartCompliance
Score 8.4 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
LOVATThomson Reuters ONESOURCE
Likelihood to Recommend
10.0
(12 ratings)
5.0
(8 ratings)
Likelihood to Renew
-
(0 ratings)
8.0
(1 ratings)
Support Rating
-
(0 ratings)
5.9
(2 ratings)
User Testimonials
LOVATThomson Reuters ONESOURCE
Likelihood to Recommend
LOVAT COMPLIANCE LTD
You need a way to calculate VAT on your remote sales and store tax documents electronically. As part of your evaluation, I would include LOVAT as an option. With LOVAT, we can also avoid asking clients to provide additional information at check out, which keeps our conversion rate higher. It's so easy to upload tax data, calculate VAT, and submit VAT forms
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Thomson Reuters
We use [Thomson Reuters ONESOURCE] to prepare federal and state income tax returns which allows us to complete the work assigned very quickly and allow senior members of the team to review the work before submitting in a very fluid state. While not in the tax or busy season, the program is not as used as much.
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Pros
LOVAT COMPLIANCE LTD
  • Variety of subscription plans which are flexible thanks to possibilities of purchasing various add-ons.
  • Tax audit reports which are available for download is a great feature that allows us to have a deeper look to our transactions from different sales channels of ours.
  • The support team in always helped us with difficulties or questions that we had on different stages while working with LOVAT
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Thomson Reuters
  • ONESOURCE is excellent for providing a holistic suite of products that are specifically geared toward tax compliance.
  • ONESOURCE also does an excellent job of maintaining a fresh look and appearance to their products, but doesn't change the base functionality just to sell more or improve the look of the product.
  • ONESOURCE also does an excellent job of maintaining current tax information. In an ever changing tax world, this is the most important thing for a piece of tax software to provide.
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Cons
LOVAT COMPLIANCE LTD
  • Some processes take extra time
  • It will take some time and preferably a demo call with the support team to learn how to use the software yourself
  • Unfortunately, consultation on really difficult questions can be obtained only for an additional fee
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Thomson Reuters
  • ONESOURCE absolutely needs to restore their TIN Matching feature. Not having a TIN Matching feature is huge and needs to be addressed immediately.
  • The software interface itself is outdated and clunky. It is way behind in terms of user-friendliness and convenience. Additionally, it is only compatible with Internet Explorer. ONESOURCE is literally the only reason I would ever access Internet Explorer which is notably slower and more prone to freezing than Google Chrome or Safari. A good portion of our business uses Macs which means they are SOL on accessing ONESOURCE.
  • The ability to look at multiple tax years for a single recipient would be huge. Currently, if a recipient asks us to pull three years of data, this means three different searches within each year's ONESOURCE instance. It's tedious and could be improved.
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Likelihood to Renew
LOVAT COMPLIANCE LTD
No answers on this topic
Thomson Reuters
To reiterate - a very useful tool for private company information, otherwise not forthcoming on the public domain. It is very crucial in Company analyses for various lenses, slices and dices of Company information. Also useful in industry analysis and in list building. Overall a great research and analytics tool.
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Support Rating
LOVAT COMPLIANCE LTD
No answers on this topic
Thomson Reuters
The ONESOURCE support has improved significantly over the years. Support sends out emails with the answer provided which helps in the future when the same issue occurs. This reduces the amount of calls to ONESOURCE Support as you can better document the calls and rely on previous answers if the same issue occurs. ONESOURCE support has also implemented a callback feature that reduces the amount of time spent on hold.
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Alternatives Considered
LOVAT COMPLIANCE LTD
Lovat is a product which is favorable in terms of cost, unlike the many tax software which are expensive and not affordable.Also, Lovat has some flexibility, where different procedures based on the companies demands can be personalized to suit its needs. Lastly, Lovat works in hand with the many programs that are in the accounting area.
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Thomson Reuters
As I said it is an easy-to-use platform and saved us time and money. They have great customer service and have helped our company get new hires checked and in-service faster than our old company. By combining the two services in one place it has made it easier for the new hire and the HR staff to track results. I am a fan!
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Return on Investment
LOVAT COMPLIANCE LTD
  • Good functionality and regular update of the services.
  • This software is a good value for money especially taking into account a not very high price.
  • The support team is professional but available only at weekdays.
  • For the moment the support language is only English that may cause some inconvenience.
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Thomson Reuters
  • Leaves sales tax off invoices from time to time.
  • Reduces the amount of manual work needed to calculate sales tax and to update tax rates.
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ScreenShots

LOVAT Screenshots

Screenshot of Transactions section