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Thomson Reuters and Datamatics Brings Together TaxAnalyze, Tax and Accounts Analytics Solution

PTI | Mumbai | Updated: 10-07-2019 15:37 IST | Created: 10-07-2019 15:06 IST
Thomson Reuters and Datamatics Brings Together TaxAnalyze, Tax and Accounts Analytics Solution
Image Credit: Pixabay

Mumbai, Maharashtra, India: Business Wire India

Datamatics Global Services Ltd. (DGSL), a global IT & BPM company today announced its collaboration with Thomson Reuters to bring together TaxAnalyze, a Tax Validation tool. The product will help corporates streamline their financial information, automate tax processes and ensure seamless tax calculations. The solution is powered by Thomson Reuters ONESOURCE and Datamatics TruBI.

Datamatics TruBI is an enterprise-ready business intelligence platform that offers a modern & responsive user interface. It supports self-service analysis, 360-degree view of a single-version-of-truth, and provides an intuitive & interactive experience in a secure and scalable environment. With all this, Datamatics TruBI provides business users with definite advantages in terms of 99.99% uptime and increased employee productivity by almost 60%.

Thomson Reuters ONESOURCE Indirect Tax platform is the industry's first leading corporate technology platform supporting tax content for more than 190 countries. Built on the same patented global tax technology that Fortune 500 customers have relied on for over a decade, ONESOURCE is cloud-enabled and helps corporates automate transactions in real-time. Because it's cloud-based, the tax automation software can scale quickly to the size of the company, for less cost.

TaxAnalyze is a Tax validation tool that turns numerous sales & purchase transactions into a visual dashboard to help you to detect anomalies in tax calculation, inaccuracies & mismatches in transactions within seconds. TaxAnalyze is powered by Thomson Reuters patented ONESOURCE Indirect Tax engine and Datamatics TruBI which brings in the interactive analytical dashboard. It enables businesses to analyze and view transaction data helping them to identify line level transaction errors and take corrective actions before filing returns. TaxAnalyze is offered by Thomson Reuters as part of their solution stack in India.

Speaking about the partnership, Mr. Rahul Kanodia - Vice Chairman & Chief Executive Officer, Datamatics Global Services Limited, said, "In an increasingly data-driven world, organizations have tremendous opportunities to derive actionable insights from their data deluge. Datamatics' Business Intelligence and Data Visualization platform, TruBI, helps companies to unleash the power of data and take smarter decisions. Our collaboration with Thomson Reuters will provide enhanced visibility and deeper insights to organisation in their tax regime."

Vaibhav Kshirsagar, Lead Alliances and Partnerships, who ideated & led the team of TaxAnalyze, said, "TaxAnalyze was envisaged understanding the changing tax regime in India and countries alike to simplify the challenges tax teams are facing in validating the accuracy of tax treatment across every transaction."

Vishal Parekh, Business Head, India & SEA, says, "This partnership has helped solution for an identified need for CFOs and Tax heads to gain more visibility into the GST cash flow trends and take corrective action in an efficient manner."

About Thomson Reuters

Thomson Reuters is one of the world's most trusted provider of answers, helping professionals make confident decisions and run better businesses. Their customers operate in complex arenas that move society forward — law, tax, compliance, government, and media – and face increasing complexity as regulation and technology disrupts every industry. For more information on Thomson Reuters please visit www.thomsonreuters.com

About Datamatics Global Services

Datamatics (BSE: 532528 | NSE: DATAMATICS) provides Intelligent Solutions for data-driven businesses to increase productivity and enhance customer experience. The company's portfolio of service offerings spans across Information Technology Services, Business Process Management, Engineering Services and Big Data & Analytics all powered by Artificial Intelligence. It has established products in Robotics Process Automation, Advanced Analytics, Business Intelligence and Automated Fare Collection. Datamatics services over 500 customers globally across Banking & Financial Services, Insurance, Healthcare, Manufacturing, International Organizations and Media & Publishing. Headquartered in Mumbai, the Company has presence across 4 continents with major delivery centers in the USA, India and Philippines with an employee base of 10,000. To know more about Datamatics BI offerings, visit www.datamatics.com

Safe Harbour

Some of the statements in this update that are not historical facts are forward-looking statements. These forward-looking statements include our financial and growth projections as well as statements concerning our plans, strategies, intentions and beliefs concerning our business and the markets in which we operate. These statements are based on information currently available to us, and we assume no obligation to update these statements as circumstances change. There are risks and uncertainties that could cause actual events to differ materially from these forward-looking statements. These risks include, but are not limited to, the level of market demand for our services, the highly-competitive market for the types of services that we offer, market conditions that could cause our customers to reduce their spending for our services, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market conditions in India and elsewhere around the world, and other risks not specifically mentioned herein but those that are common to industry.


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