TrustRadius
ONESOURCE - Tax Compliance Suite...it's Sweet!We use ONESOURCE exclusively for our Tax and Transfer Pricing compliance process, including BEPS and provision processes. To my knowledge, we are the only department in the organization that uses ONESOURCE. We generally lean towards the use of ONESOURCE when considering new software applications with regard to our tax compliance efforts.,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.,There are some aspects of the ONESOURCE suite that are a bit clunky. Their all cloud based environment is a great idea, but when you are talking about hundreds and thousands of tax forms, entity data, and general ledger detail recalculating, sometimes a web-based approach isn't the best option. While their support team is very knowledgeable and very willing to help, sometimes it is tough to navigate which support team you need simply due to the volume of products they offer. Products can sometimes be rushed to market in order to be the "first one available". This is great for initial market capture, but if the product has not been well thought out and doesn't conform to the specific tax compliance effort, chances of maintaining use of the product aren't likely to be great.,8,Without the use of ONESOURCE Transfer Pricing, we wouldn't be able to turn out transfer pricing documentation on our own. We have approximately 125 transfer pricing reports a year that require preparation, and outsourcing those at $15-25,000 a piece isn't feasible. We pay less than $50,000 annually for ONESOURCE Transfer Pricing and can now turn out as many reports as we need for a flat fee. ONESOURCE BEPS Action Manager ("BAM") allows us to prepare both our Country by Country Report and our Master File in house. We had received quotes from accounting firms in the range of $100-200,000 annually for a Country by Country Report and $50,000 for a Master File annually. For a $20,000 investment annually in BAM, we can complete both in house.,Indirect Tax ManagerOur organization utilizes ONESOURCE for a variety of tax reporting functions. The main focus area where I have used ONESOURCE is for tax information reporting, specifically relating to 1099-K and 1099-MISC reporting.,The ability to recall data from prior years is great. We constantly get requests to pull prior year forms and the system allows us to complete these requests efficiently. The ability to track tax information events (such as print filing dates, b-notices, and recipient responses) is a huge benefit of ONESOURCE and is one of the main reasons we utilize their service over that of their competitors. ONESOURCE customer service is highly responsive. One of the huge benefits of working with ONESOURCE is the assigned CES who answers any & all questions relating to not only the software itself, but the underlying tax requirements and due dates, etc.,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.,7,ONESOURCE has allowed us to better serve our recipients from an experience/support aspect and that has been a great benefit. The audit trail created through the ONESOURCE information tax reporting platform has alleviated a great deal of stress when it comes to document retention.,Sovos Compliance,Avalara AvaTax, Avalara Returns, NetSuiteExcellent in terms of performance and stability - but high TOC. (Maintenance/implementation costWe use Onesource as an enterprise standard for indirect tax determination. It is connecting to multiple ERP systems (both SAP and Oracle) within the organization.,Performance Regular update of tax content Ability to connect to multiple platforms,High TOC. No patching strategy for Onesource. Each bug fix is basically a new implementation, requiring an end-to-end regression test for SSabrix/Onesource and each connected ERP. Lack control of developments. Often a bug fix release contains changes to other - undocumented - areas within the application which leads to multiple implementation iterations. Limited collaboration with ERP providers. If something goes wrong in the connector to an ERP system (e.g. due to ERP version upgrade), Thomson Reuters is not as connected with the ERP vendor as could be desired i.e. the burden of connecting the ERP provider with the Onesource provider (TR) is laying with the customer. This is especially true for the Oracle Fusion integration. High project cost. When connecting to an ERP system for the first time , the integration with Sabrix is costly due to the need for connector development (less for the actual Sabrix configuration).,7,Sabrix is costly, but has a positive effect on our compliance reporting and risk exposure.,Vertex
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ONESOURCE
4 Ratings
Score 6.6 out of 101
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ONESOURCE Reviews

ONESOURCE
4 Ratings
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Score 6.6 out of 101
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October 25, 2018

Review: "ONESOURCE - Tax Compliance Suite...it's Sweet!"

Score 8 out of 10
Vetted Review
Verified User
Review Source
We use ONESOURCE exclusively for our Tax and Transfer Pricing compliance process, including BEPS and provision processes. To my knowledge, we are the only department in the organization that uses ONESOURCE. We generally lean towards the use of ONESOURCE when considering new software applications with regard to our tax compliance efforts.
  • 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.
  • There are some aspects of the ONESOURCE suite that are a bit clunky. Their all cloud based environment is a great idea, but when you are talking about hundreds and thousands of tax forms, entity data, and general ledger detail recalculating, sometimes a web-based approach isn't the best option.
  • While their support team is very knowledgeable and very willing to help, sometimes it is tough to navigate which support team you need simply due to the volume of products they offer.
  • Products can sometimes be rushed to market in order to be the "first one available". This is great for initial market capture, but if the product has not been well thought out and doesn't conform to the specific tax compliance effort, chances of maintaining use of the product aren't likely to be great.
ONESOURCE is well suited for organizations that want to maintain their compliance efforts within a single platform. Most of the software looks and operates in a similar manner, which makes it easy to navigate and integrate yourself into additional products. Additionally, the ONESOURCE platform is a great platform for anyone looking for a provider that stays on top of tax law changes and will quickly integrate the changes into their product.
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May 21, 2018

ONESOURCE Review: "Indirect Tax Manager"

Score 7 out of 10
Vetted Review
Verified User
Review Source
Our organization utilizes ONESOURCE for a variety of tax reporting functions. The main focus area where I have used ONESOURCE is for tax information reporting, specifically relating to 1099-K and 1099-MISC reporting.
  • The ability to recall data from prior years is great. We constantly get requests to pull prior year forms and the system allows us to complete these requests efficiently.
  • The ability to track tax information events (such as print filing dates, b-notices, and recipient responses) is a huge benefit of ONESOURCE and is one of the main reasons we utilize their service over that of their competitors.
  • ONESOURCE customer service is highly responsive. One of the huge benefits of working with ONESOURCE is the assigned CES who answers any & all questions relating to not only the software itself, but the underlying tax requirements and due dates, etc.
  • 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.
The capabilities of the software are great compared to other tax information reporting softwares in the market, but overall the system is outdated and not intuitive. There are major improvement areas but all in all, they get the job done.
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February 14, 2018

ONESOURCE Review: "Excellent in terms of performance and stability - but high TOC. (Maintenance/implementation cost"

Score 7 out of 10
Vetted Review
Verified User
Review Source
We use Onesource as an enterprise standard for indirect tax determination. It is connecting to multiple ERP systems (both SAP and Oracle) within the organization.
  • Performance
  • Regular update of tax content
  • Ability to connect to multiple platforms
  • High TOC. No patching strategy for Onesource. Each bug fix is basically a new implementation, requiring an end-to-end regression test for SSabrix/Onesource and each connected ERP.
  • Lack control of developments. Often a bug fix release contains changes to other - undocumented - areas within the application which leads to multiple implementation iterations.
  • Limited collaboration with ERP providers. If something goes wrong in the connector to an ERP system (e.g. due to ERP version upgrade), Thomson Reuters is not as connected with the ERP vendor as could be desired i.e. the burden of connecting the ERP provider with the Onesource provider (TR) is laying with the customer. This is especially true for the Oracle Fusion integration.
  • High project cost. When connecting to an ERP system for the first time , the integration with Sabrix is costly due to the need for connector development (less for the actual Sabrix configuration).
High volume tax determination for AR and AP transactions
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ONESOURCE Scorecard Summary

About ONESOURCE

ONESOURCE is a tax compliance software package.
Categories:  Tax Compliance

ONESOURCE Technical Details

Operating Systems: Unspecified
Mobile Application:No