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Thomson Reuters and Datamatics brings together TaxAnalyze, Tax and Accounts Analytics Solution

Posted On: 2019-07-11 13:14:12

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% up-time 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."

Shares of DATAMATICS GLOBAL SERVICES LTD. was last trading in BSE at Rs.90.55 as compared to the previous close of Rs. 91.95. The total number of shares traded during the day was 2856 in over 92 trades.

The stock hit an intraday high of Rs. 93 and intraday low of 90.15. The net turnover during the day was Rs. 259210.

Source: Equity Bulls

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