EY and Thomson Reuters bring together ONESOURCE process automation with EY Tax Technology and Transformation services

- Alliance will help businesses address the challenges of multijurisdictional tax operations, by providing leading-edge, digitally enabled tax services

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May 21, 2019, 00:01 ET

NEW YORK and DALLAS, May 21, 2019 /PRNewswire/ -- Ernst & Young LLP (EY) and Thomson Reuters today announce a strategic alliance that brings together Thomson Reuters ONESOURCE global tax technology with EY Tax Technology and Transformation (TTT) services. Through the alliance, EY and Thomson Reuters will bring to market new solutions that help multinational organizations implement seamless tax compliance operations to help address the challenges of complying with multijurisdictional tax requirements in a complex and shifting regulatory environment.

Thomson Reuters ONESOURCE — with an industry-leading portfolio of global tax and accounting technology for corporations — enables streamlining of data and process automation across tax, accounting and finance functions.

With extensive knowledge of ONESOURCE, EY teams will guide clients through the implementation of the technology as clients embark on digital and business transformation to simplify tax processes, drive down operating costs and maintain transparent global tax compliance.

Kate Barton, EY Global Vice Chair – Tax, says: "With the rapid rise in platform-based technology in the form of cloud and other secure access platforms, tax departments are beginning to solve problems, source business solutions and interact with tax authorities in a whole different way. Together, EY and Thomson Reuters have the opportunity to provide clients a leading-edge, tech-driven solution to help solve their most complex tax challenges."

Brian Peccarelli, Chief Operating Officer, Customer Markets, Thomson Reuters, says: "Businesses are responding to technological, social and professional disruption by transforming how they operate and are structured. They now want those they work with to provide transparent, integrated and agile technology with the services that are tailored to meet their needs, not just a one-kind-fits-all offering. This alliance with EY enables us to provide our clients with the very best technology and advisory services for tax, accounting and legal departments."

The alliance expands the longstanding relationship with Thomson Reuters and provides the ability for EY to serve clients at a deeper level within the ever-changing tax technology space. It will also offer EY clients focused support from Thomson Reuters within and beyond the tax function, deepening relationships in the areas of compliance, technology, IT, global trade and the office of the general counsel.

John Kuzy, EY Americas Tax Sector Leader, says: "EY and Thomson Reuters have unparalleled experience in helping clients manage the complexities of interconnected topics such as tax reform, global compliance and reporting, workforce transformation in the digital age and global trade. Driven by a common purpose to build a better working world, both organizations help make tax operations thrive in the digital age, across geographies and sectors, thus helping the corporate tax function to advance clients' business strategy."

Notes to Editors

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

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This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About Thomson Reuters

Thomson Reuters (TSX/NYSE: TRI) is the world's leading provider of news and information-based tools to professionals. Our worldwide network of journalists and specialist editors keep customers up to speed on global developments, with a particular focus on legal, regulatory and tax changes. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information on Thomson Reuters, visit tr.com and for the latest world news, reuters.com.

Virginia Milazzo
EY Global Media Relations
+1 212 360 9261
[email protected]

Jenn Riggle
Thomson Reuters
+1 972 250 8444
[email protected]

SOURCE EY