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| Expanded database and capabilities offer greater transparency and control for multinational corporations |
NEW YORK, N.Y., Dec 14, 2010 - (ACN Newswire) - The Tax & Accounting business of Thomson Reuters has added powerful new tools to its award-winning Documenter software, a key component to its comprehensive ONESOURCE Transfer Pricing offering. The enhancements will help multinational corporations (MNCs) control their transfer pricing activities, and includes the addition of global financial data from Reuters Fundamentals, expanded report-writing capabilities, and more than three dozen country-specific templates.
Documenter is a central repository for transfer pricing documentation, which can be used by MNCs to achieve greater visibility and control in compliance and risk management. It also helps facilitate the collaboration between in-house tax teams and external tax advisors, and supports internal controls for financial reporting, integration and workflow. Moreover, it now contains an expanded dataset to allow for more complex transfer pricing activities.
Reuters Fundamentals, a Thomson Reuters database that contains more than 65,000 companies from over 110 countries, has also been added to Documenter. Composed of financial data sourced directly from public filings and other public areas, with more than 100 line items and data points per company, Reuters Fundamentals gives users more in-depth and up-to-date information, including segmented data, detailed business activities and updated financials.
"The inclusion of Reuters Fundamentals shows our commitment to provide the market with the depth and breadth of financial information essential for transfer pricing efforts, and provides transparency behind those numbers that our customers can use when conducting their comparable searches," said Joe Harpaz, head of Global Tax Technology for Tax & Accounting. "Reuters Fundamentals takes Documenter another step toward quickly providing the most accurate financial information in the marketplace, so our customers do not have to wait for quarterly updates to make their transfer pricing decisions."
Workflow capabilities have also been enhanced, to include an import template that allows corporate tax departments to easily incorporate data from their ERP systems, and automatically creates an audit trail to aid in coordination, collaboration, and control of all transfer pricing activities.
Other enhancements to Documenter include a powerful report-writing solution, designed to streamline transfer pricing activities, and a multiple revenue authority report feature, which allows users to easily create a single transfer pricing report with country-specific information. Coverage has been doubled to 38 country-specific reports, including every major economy in Europe and Asia.
Documenter recently won the prestigious LexisNexis 2010 Taxation Award for Best Technological Innovation. More information is available at http://onesource.thomsonreuters.com/solutions/transfer-pricing/transfer-pricing/documenter/, or by contacting Thomson Reuters at 212-404-8600.
Contact:
Tina Allen (EMEA)
Public Relations
+44 2073756814
tina.allen@thomsonreuters.com
Ruth Ann Baker (U.S.)
Public Relations
972-250-7438 o
972-261-6618 m
ruth.ann.baker@thomsonreuters.com
Topic: Press release summary
Source: Thomson Reuters
https://www.acnnewswire.com
From the Asia Corporate News Network
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