Thomson Reuters ONESOURCE is a portfolio of tax and accounting technology for corporations designed to help users boost collaboration with departments and partners and ensure seamless tax compliance no matter where a company does business.
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Vertex
Score 8.0 out of 10
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Vertex combines tax research with technology to improve tax accuracy and
consistency on sales and purchase transactions. The automation aims to support high volume and complex transactions at speed and scale to streamline internal
processes and improve audit performance. Integrations to
ERP, e-commerce, procurement, and other billing systems enables a single tax
engine to seamlessly support a growing business. In addition to tax
determination, Vertex provides tools and services to automate and…
As said, Thomson Reuters ONESOURCE has been a great resource for Company and industry information; especially the more elusive private Company information which is hard to find on the public domain apart from the company website or sources, which could be marketing biased. The …
As I said it is an easy-to-use platform and saved us time and money. They have great customer service and have helped our company get new hires checked and in-service faster than our old company. By combining the two services in one place it has made it easier for the new hire …
Thomson Reuters has a central location for the documents. It is time saving and truly is streamlined which is one of the main reasons why this program beats out the competition. Most of the areas that one source is lacking is at the very least the equivalent or better than the …
OneSource is behind Avalara in many ways. However, at our time of implementation Avalara could not handle some of the calculations we required. That has changed since.
We've considered numerous income tax compliance tools in the past, including ProSystems. However they've never lived up to the billing of the ONESOURCE Income Tax module.
Additionally, we've considered Corp-Tax, but it just didn't have the look and feel of the ONESOURCE …
ONESOURCE blows Sovos out of the water. would take ONESOURCE 10 out of 10 times. The two biggest differentiators are the friendliness and helpfulness of customer support and the overall capabilities of the software.
Sabrix/Onesource provides truly global content - Vertex is not there yet. If a business operates in US only, both Sabrix and Vertex would be good choices.
In my opinion, there is no comparison of Vertex customer service oriented approach to clients vs. Avalara. I think Vertex by far outshines Avalara 10 to 1. In my experience, communication with Vertex is much more streamlined and handled efficiently than with Avalara. In my …
I haven't evaluated anything else or any other products like Vertex. I have only seen some of the Comparisons between Avalara and Vertex. I don't remember much in terms of differences.
Vertex is more flexible and by using Vertex you need fewer people to maintain tax calculations. In addition, Tax rate update is maintained by Vertex, so you do not need to track and support tax rate update.
The functionality and feature set is similar. However, I prefer Vertex's UI over ONESOURCE. I have found Vertex to have certain taxability categories that ONESOURCE did not have historically.
In comparison specifically with Avalara, Vertex is better in every way. It is much more customizable and allows us to change the way our tax software is set up for our business needs. Avalara is much more constricted, and is using the SST system which can allow for simplified …
Vertex Indirect Tax Compliance package is worth getting. It has every form possible that needs to be filed monthly, quarterly, semi, or annually. It creates the uploadable file for state tax portal websites. So many other features.
For Sales tax many years ago I had used a product called Alternadev. It probably doesn't even exist anymore. It was created in someones kitchen and there wasn't much support. Other than that for sales tax I have only used Vertex. I have used Onesource but that was for property …
Vertex real time tax rate & tax determination updates is second to none. The quality of and accuracy in report generation is simple & easily understood.
The decision was made prior to my arrival at the organization but I believe that we've committed time and resources to the product and would not easily change our platform. We appreciate the efforts to educate users and create a happy and productive customer experience.
Vertex Cloud and ONESOURCE are both tax compliance software. ONESOURCE provides more products and features around tax compliance for various financial service providers, while Vertex Cloud focuses on tax compliance for other industries, such as retail, e-commerce, leasing companies, and manufacturers.
Features
ONESOURCE and Vertex Cloud both provide strong features tailored to their target customer bases.
ONESOURCE offers businesses a wide range of individual products that can be purchased a la carte. This pricing structure allows organizations to buy what they need without being bundled with extra unnecessary features. They also tailor some capabilities to the unique tax needs of financial service professionals, such as wealth or estate managers. They also offer robust capabilities for multinational companies that navigate multiple global jurisdictions.
In contrast, Vertex Cloud specializes in providing tax compliance services to North American or domestic businesses. In particular, Vertex caters to retailers and e-commerce businesses, which benefit from Vertex Cloud’s robust cross-jurisdiction tax knowledge. Tax compliance is also streamlined with the platform’s automated real-time tax calculations for multi-state transitions.
Limitations
While ONESOURCE and Vertex Cloud both have areas of strength, there are some limitations to each product to be aware of.
ONESOURCE’s myriad products allows for more customization, but can also make support difficult. Some reviewers describe distinct support teams for each product, which can make getting the right help from the right reps difficult when there are cross-product issues or complexities. Domestic-only businesses, especially those that aren’t high-volume transaction businesses, may also not be able to make the best use of ONESOURCE’s global capabilities.
On the other hand, Vertex Cloud’s focus on North America and Europe may result in less expertise in other global tax jurisdictions. The customer support from the vendor has also been criticized by reviewers, particularly when there are issues with the software itself, rather than tax compliance questions.
Pricing
Vertex Cloud and ONESOURCE’s pricing are both customer-specific. Concrete pricing is available by quote from each vendor.
Features
Thomson Reuters ONESOURCE
Vertex
Type of tax
Comparison of Type of tax features of Product A and Product B
Thomson Reuters ONESOURCE
7.7
Ratings
2% below category average
Vertex
8.1
Ratings
3% above category average
Sales and Use Taxes
8.00 Ratings
8.90 Ratings
Cross-border Taxes
8.00 Ratings
8.50 Ratings
VAT / GST Taxes
8.00 Ratings
7.90 Ratings
Energy and Fuel Taxes
7.00 Ratings
7.30 Ratings
Tax Reporting & Compliance
Comparison of Tax Reporting & Compliance features of Product A and Product B
ONESOURCE is well suited for organizations that want to maintain their compliance efforts within a single platform. Most of the software looks and operates in a similar manner, which makes it easy to navigate and integrate yourself into additional products. Additionally, the ONESOURCE platform is a great platform for anyone looking for a provider that stays on top of tax law changes and will quickly integrate the changes into their product.
It is easy to use, and the user interface is very interactive. A beginner can also work with ease and have no difficulty accessing Vertex. It is straightforward to understand how Vertex works. The tax calculation mechanism is good and accurate.
The ability to recall data from prior years is great. We constantly get requests to pull prior year forms and the system allows us to complete these requests efficiently.
The ability to track tax information events (such as print filing dates, b-notices, and recipient responses) is a huge benefit of ONESOURCE and is one of the main reasons we utilize their service over that of their competitors.
ONESOURCE customer service is highly responsive. One of the huge benefits of working with ONESOURCE is the assigned CES who answers any & all questions relating to not only the software itself, but the underlying tax requirements and due dates, etc.
High TOC. No patching strategy for Onesource. Each bug fix is basically a new implementation, requiring an end-to-end regression test for SSabrix/Onesource and each connected ERP.
Lack control of developments. Often a bug fix release contains changes to other - undocumented - areas within the application which leads to multiple implementation iterations.
Limited collaboration with ERP providers. If something goes wrong in the connector to an ERP system (e.g. due to ERP version upgrade), Thomson Reuters is not as connected with the ERP vendor as could be desired i.e. the burden of connecting the ERP provider with the Onesource provider (TR) is laying with the customer. This is especially true for the Oracle Fusion integration.
High project cost. When connecting to an ERP system for the first time , the integration with Sabrix is costly due to the need for connector development (less for the actual Sabrix configuration).
Critical changes! I feel they should be more aware of changes in the states. Sometimes we get these changes from them after we file our returns! I feel they should be up on any changes that are important for returns.
Support is a big issue. Vertex used to be excellent with their support. When I called with a question I felt I was speaking to a professional who knows the product inside and out. Now when I call I get someone who says "That's a realy good question I will have to look into that" Then days go by before I get an answer. Sometimes I don't get an answer at all. This was not the case in prior years.
To reiterate - a very useful tool for private company information, otherwise not forthcoming on the public domain. It is very crucial in Company analyses for various lenses, slices and dices of Company information. Also useful in industry analysis and in list building. Overall a great research and analytics tool.
We are satisfied with the overall performance of Vertex. The software has provided my company with many efficiencies. We have shorted our audits and found that many audits are happy that we are using Vertex to calculate our taxes. We no longer need to worry about updating our rates each month since Vertex sends us a file to upload
Great program, but a lot of features are still manual. It's difficult to set recurring monthly reports in a time frame of "Previous Month" and we have to kick them off. We have to manually delete reports, there isn't an option to choose multiple at once. Data that is transferred into Vertex returns is quirky as well, taking multiple steps to update lines of data.
Our Vertex performance is good, although we are now experiencing Error 502 when adding additional data points to our transaction tester single tests. At Exchange, I was told to reach out to support....that most likely the On Demand system needed some additional CPU resource added. I have a currently open ticket, that has not yet been fixed on this matter
The ONESOURCE support has improved significantly over the years. Support sends out emails with the answer provided which helps in the future when the same issue occurs. This reduces the amount of calls to ONESOURCE Support as you can better document the calls and rely on previous answers if the same issue occurs. ONESOURCE support has also implemented a callback feature that reduces the amount of time spent on hold.
I cannot speak from personal experience, but our IT staff has found contacting Vertex support staff to be challenging. One coworker has gone through several support tickets because he was an unrecognized contact. He has also expressed frustration that communication with support staff is conducted solely by email, drawing out issues over an extended length of time that could be more easily resolved by a brief phone call.
By training I'm referring to our engagement with Vertex Consulting's professional services group. Each person on the engagement had prior leasing industry tax experience and most if not all used O Series before joining Vertex. Consultants with industry specific tax experience provide so much more than just "training". They are able to engage in deep tax technical discussions with actual experience while in private practice. This coupled with having visibility to how numerous other leasing peers approach similar tax issues is a huge plus on top of the standard training.
Vertex has offered multiple webinars for the products we have purchased that are informative and helpful. I've also attended a few of the Vertex annual conferences where I was able to strength my knowledge of Vertex. I also found that their online library and videos can be helpful in resolving issues and answering questions.
The implementation is challenging, make no mistake but will provide much value over time. Make sure you have full support of IT and your major stakeholders in your company. I found that while many people claimed to understand tax was important, they had no idea how deep tax in entrenched throughout the lease life cycle.
Thomson Reuters has a central location for the documents. It is time saving and truly is streamlined which is one of the main reasons why this program beats out the competition. Most of the areas that one source is lacking is at the very least the equivalent or better than the competition so the parts that it does better really elevates the software against the competition
Vertex is more flexible and by using Vertex you need fewer people to maintain tax calculations. In addition, Tax rate update is maintained by Vertex, so you do not need to track and support tax rate update.
There needs to be a time-consuming setup both in the Enterprise Resource Platform and in Vertex and the related tools as well but once this is all established, Vertex is very proficient at calculating Sales and Use Tax in the USA and in Canada with GST/HST, as well as several of the provinces where we are located. As we added plants in different jurisdictions via greenfield expansion and aquisition, Vertex was able to integrate those as long as the tax department is fully informed of the system.
By moving the tax return preparation process in-house by utilizing ONESOURCE, the company has significantly reduced the costs associated with filing the income tax returns.
ONESOURCE has given the company better control over the data.
By utilizing ONESOURCE, the company has better internal documentation that will assist in defending future audits without having to rely on outside accounting firms.
Vertex for the solution that we needed was half as much as the old tax software that we used
Our past solutions have not been able to exempt certain customers, so we were spending a lot of time manually adjusting sales orders in two systems (Netsuite and BigCommerce)
We are now able to add more complex tax rules, such as charging sales tax on digital, food, and clothing items differently than we were able to before
