The Tax & Accounting business of Thomson Reuters has integrated its latest version of the Sabrix Application Suite with Oracle E-Business Suite Release 12, enabling support for global transaction tax management covering sales, use and value-added tax, across order-to-cash, and procure-to-pay processes for multinational companies.
The Sabrix Application Suite integration was built by Thomson Reuters in-house team in compliance with Oracle third-party independent software vendor development guidelines.
Advanced features in integration include automation of the eBTax set-up process, country-based regime-to-rate flow configuration, tax determination and calculation on purchase orders, validation of vendor-charged tax on accounts payable invoices, and the latest tax rules, rates and determination logic maintained within Sabrix.
The new Sabrix-Oracle 12 integration also comes with SAS 70 Type II certified tax content, provided by an in-house tax research team. Content is automatically updated, eliminating manual processes and the need to continuously monitor tax law changes.
While tax is getting more complex, and compliance is a legal obligation, it is important to handle in an accurate and timely way without burdening the rest of the organization, said Sabrix Tax Services vice president of marketing Pam Kostka. You need to invisibly integrate into a companys order-to-cash and procure-to-pay processes.
The balance of achieving accurate compliance without disrupting business processes requires intimate knowledge of both tax and ERP, Kostka added. Sabrix has invested years in understanding Oracles processes and ensuring we have that expertise in-house. This means that we are well prepared to support customers through a major release change like moving from Oracle 11 to Oracle 12.
