GAIN EFFICIENCIES BY AUTOMATING YOUR WORKFLOW PROCESS
ONESOURCE WorkFlow Manager gives you the power to manage and drive your tax processes. This comprehensive project and document management solution enables you to standardize, automate, and streamline your work. ONESOURCE WorkFlow Manager will increase your control and operational efficiency.
ONESOURCE WorkFlow Manager gives you the ability to prioritize tasks and provides visibility into individual and group progress. Centralized project management, intelligent task automation, and sophisticated reporting features help ensure timely completion of all required activities. Heightened visibility to project status will enable you to make more strategic decisions and reduce risk. Detailed level approval and document history provide tracking of critical accounting and compliance activities.
This solution is flexible and fully configurable to meet the needs of your company. Numerous features within the solution can be customized. ONESOURCE WorkFlow Manager is a web-based solution, so you can access the information and documents you need from anywhere.
ONESOURCE WorkFlow Manager is integrated with powerful components to keep your operations and tax process organized including:
WORKFLOW, PROCESS AND DATA MANAGEMENT SOLUTIONS
ONESOURCE WorkFlow Manager gives your tax department the ability to standardize, streamline, automate, and track all aspects of your corporate tax workflow.
From gathering tax packages to managing M1/M3 Workpapers and supporting documents, ONESOURCE WorkFlow Manager helps you control your business processes through automated workflow with integrated tax document management.
The software enables you to organize and standardize how every document is stored and shared. No more confusion over which document is the right version. You'll have the power to manage the status of your tax processes, with the capability to route, review, comment, and approve all documents and checklists within electronic tax folders.
Corporate tax departments use ONESOURCE WorkFlow Manager to:
- Share files and information with the new foreign business units
- Share information quickly for combined filings following a merger
- Manage and secure high volumes of legal contacts
- Convert signed legal documents into PDFs
- Share read-only access with Legal, Professional Services, Sales, Support and Training teams who require read-only access on an unscheduled and sometimes concurrent basis
- Automate and track your internal processes, including Tax Return Preparation, Provisions, Audits & IDR's, and internal planning projects.
- Manage all tax related documents with proper versioning and security while having access to all workpapers, supporting documents, checklists and even emails.
- Streamline the tax package process including distribution of spreadsheets with due date monitoring and tracking.
The DataFlow module of ONESOURCE WorkFlow Manager leverages the best of Microsoft Excel, such as instant recalculation, row and column locking, multiple sheets, and user defined calculations. DataFlow secures templates, treating data as data, distributing forms like a web page, and automating the workflow by integrating with ONESOURCE WorkFlow Manager.
Additionally, DataFlow offers:
- Visibility into the process
- Post-release tax package changes
- Data extraction
- Linking to workpapers
- Querying specific data elements across packages
- Rollover of data
- Pre-loading of data
- Data validation enforcement
ONESOURCE Calendar is a web-based, due date tracking package that helps organize tax workflows, tax filings and payments.
ONESOURCE Calendar users can instantly determine delinquent items, the status of outstanding items, and items that need your attention. Anytime and anywhere access keeps you in control at the office, at home, or on the road.
With all its features, ONESOURCE Calendar is more than just a calendar. Features include:
- Centralized database that enables anyone given permission to access and update the calendar entries
- Complete reporting capability to track tax return preparation status
- Pre-populated tax events, plus the ability to set up custom due dates for internal projects
- Complete security to control access and who can make changes
- Certified mailers with return receipts from mailings tracked through an electronic process
- Ability to add custom fields to track any specific information such as department number, division name, etc., plus sort based on the custom fields you create.
ONESOURCE FileRoom is a web-based, document management system that gives your tax department complete control over all your documents.
ONESOURCE FileRoom is the latest in paperless technology. It offers:
- Secure web-based access
- Innovative features like bar-coded scanning software, and more
- OCR for every document (enables keyword searches)
- Adds tick marks, references and sign-offs to Microsoft Excel® documents
- Archives documents to read-only status
- Forces standardized indexing for documents
- Microsoft Outlook®, Lotus Notes®, Excel, Microsoft Word® & Adobe® Plug-Ins
- Granular security permissions
- Turnkey out-of-the-box solution - minimal IT involvement
- User defined retention policies
- Audit trails of each document + version control
Corporate tax departments use ONESOURCE FileRoom to:
- Share documents between all offices, worldwide. You can configure ONESOURCE FileRoom to allow each country to have a separate drawer, customized to their purposes.
- Provide access to their tax documents and files to newly acquired companies in the case of a merger or acquisition
- Provide access to users who require read-only access to confidential documents, such as contracts and other legal documents
- Create a central and secure repository for documentation for the purposes of audit defense and reporting
- Initiate the transition to a paperless tax environment
FULLY MANAGE THE R&D TAX CREDIT
In weeks, not months, ONESOURCE R&D Tax Credit Manager enables you to identify qualified research activities, gather necessary documentation to meet IRS audit guidelines, and determine your optimal tax position. It's an ideal solution for companies that:
- Need an effective method for identifying research activities that qualify for credit
- Have geographically-dispersed R&D operations that make it difficult and costly to collect adequate documentation
- Have had difficulty sustaining their tax credit under audit
- Need a less intrusive and time-consuming way to effectively collect documentation from R&D staff
COMPLETE ENTITY MANAGEMENT
Manage, track, and plan all of your entities and organizational charts using ONESOURCE Entity Manager
- Create and store point-in-time data and organizational charts for easy review and analysis of historical data.
- Maintain detailed analysis of worldwide intercompany transactions.
- View a graphical representation of your entity structure/organizational chart and also what-if scenarios without rekeying data to help maximize tax implementations across your organization.
- Track key data such as responsible individuals, DBAs, Tax IDs/Registrations, reorganizations, acquisition/disposition of shares, company stock, places of business, and bank accounts.
- Secure web-based access to banking information, institution name, account types, signatures on file, in order to process transactions quickly.
- Track ownership information and related transactions throughout history in order to minimize risk and effectively see liability.
- Maintain officer and contact information across every level of entity structure to ensure up-to-date reporting information.
- Provide an electronic file room for central document repository including tax, legal, M&A, and risk.
- Store detailed information for places of business and tracking of geographical operations.
PROCESS IMPROVEMENT SERVICES
Robust compliance software from Thomson Reuters is not the only reason we are the market leader for corporate tax needs. The professional services offered by Thomson Reuters include tax technology experts dedicated to data management solutions, process improvements, training, software implementation and excellent customer service.
In particular, our process improvement team is skilled at re-engineering processes based on your tax department's unique needs. We bring an outsider's perspective that is combined with years of tax experience to help you and your staff establish best practices for your department.