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

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.”

Thomson Reuters Financial & Risk Business Becomes Refinitiv in India

The Financial and Risk business of Thomson Reuters is now part of the Refinitiv group in India, following the close of the India-specific deal that formed part of the global partnership between US private equity group Blackstone and Thomson Reuters in October 2018.

The new name, Refinitiv, was created based on feedback from customers and industry influencers on the value of the Thomson Reuters Financial & Risk business to the industry. It is a name that aims to blend definitive action in financial markets and a bold focus on the future with a 160-year legacy of excellence as a pioneer in financial technology.

Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. It provides leading data and insights, trading, open data and technology platforms that connect a thriving global financial markets community - driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.

The company has had a presence in India since 1851 and now has offices in Mumbai, Delhi and Mangalore as well as an operations centre in Bangalore employing over 4500 people.

“We are proud to formally become part of Refinitiv in India, an exciting and strategic market for us globally. We will continue to deliver the critical data, insights and open technology infrastructure that the Indian market has come to expect from us while driving progress for our customers across financial markets,” said David Craig, CEO at Refinitiv.

“We are excited to launch as the Refinitiv brand in India, following the close of the deal. Our brand is at the cusp of new beginnings in the ever evolving and dynamic financial services industry. We look forward to continuing to work closely to support our customers, employees, partners and stakeholders across the India market,” said Gautam Verma, Managing Director, South Asia at Refinitiv.