Deloitte and Thomson Reuters Form Alliance to Help Corporate Tax and Legal Services Accelerate Global Digital Transformation

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NEW YORK, November 4, 2021 / PRNewswire / – Deloitte Tax LLP (“Deloitte Tax”) and Thomson Reuters today announced a strategic alliance to help tax and legal services companies around the world transform the way they work. By combining the robust content, software and cutting-edge technology of Thomson Reuters with Deloitte’s industry-leading technology advisory and implementation capabilities, the alliance will provide solutions to internal tax and legal teams to address the challenges they may face increasing compliance and regulatory requirements, as well as the urgent need to become more efficient, agile and digital.

“Now more than ever, digitization is becoming crucial for efficient tax and legal services. Through this alliance, we will provide tailor-made technology implementation solutions to help our clients focus on what they do the best – add value to their organizations, leveraging solid data for decision making and cost control, supported by the unparalleled global breadth and depth of Deloitte and Thomson Reuters, ”said Steve kimble, President and CEO, Deloitte Tax LLP.

Digital transformation is a top priority for almost all institutions and is attracting the attention of many senior executives in finance, legal and operations. While many parts of the organization have started the digitization journey, tax and legal departments have often fallen behind, reliant on outdated legacy systems and manual business processes that cannot keep pace with today’s demands. hui. In a Deloitte investigation of legal departments, only 20% said they used tools to automate routine tasks. Likewise, a separate investigation of tax officials said their teams need to provide more in-depth advisory support on key initiatives such as digital business models, supply chain restructuring and sustainability, even if their budgets remain stable or shrink.

“We are delighted to strengthen our long-standing relationship with Deloitte through this new alliance,” said Sunil Pandita, president of companies at Thomson Reuters. “Thomson Reuters and Deloitte have a long history of working together to support corporate tax departments as they face major transformations and changes, from regulatory shifts to digital disruption. continually see internal tax and legal departments under immense pressure to always be quick and to the point, while battling limited resources and an ever-changing business landscape. This alliance between Thomson Reuters and Deloitte will allow us to help our customers solve their biggest problems. weak points through content-driven technology solutions. ”

Tax and legal departments must reinvent their fundamental operations and processes to thrive in a dynamic and demanding environment, and it becomes imperative that they accelerate their transformation efforts. The Deloitte-Thomson Reuters alliance is designed to help them do just that. The digital transformation of major operating platforms enables tax and legal functions to generate real-time information and increase productivity, while simultaneously managing costs and risks more effectively. This allows tax and legal professionals to focus on providing strategic advice and information.

The alliance builds on the meaningful relationship that Deloitte and Thomson Reuters have enjoyed over the past decade serving global and diverse tax clients on their transformation journeys. The alliance will enable Deloitte and Thomson Reuters to improve efficiency, align data, create economies of scale and improve transparency throughout end-to-end tax processes. ONESOURCE, a cutting-edge corporate tax technology platform, is a vital part of the tax ecosystem, enabling tax compliance and reporting in 180 countries. Deloitte’s integration of this technology with its knowledge of tax advice can provide companies with possible solutions to improve their specific tax life cycles. Areas for improvement include global compliance, reporting and risk management for corporate and transaction taxes.

“The tax functions deal with an ever-changing and ever-increasing regulatory landscape for direct and indirect taxes. Combining Deloitte’s implementation methodology and technical tax services with Thomson Reuters’ suite of products addresses risk, compliance and efficiency opportunities in an extremely valuable way. , allowing our clients to focus their efforts on creating added value for the organization. Our dedicated tax technology practice is aligned with these clients to achieve their transformation goals around the world, ”said Jennifer German, partner, global and American leader in tax management consulting, Deloitte Tax LLP.

Deloitte and Thomson Reuters will also support corporate legal services by leveraging corporate legal management technology, a rapidly growing segment that focuses on improving and streamlining legal operations through specialized technology for the business management, workflow, electronic invoicing, contracts, content management and more. Clients will benefit from the combination of Deloitte’s technological implementation prowess and advanced tools from Thomson Reuters to optimize technology and create efficiencies in legal services.

Deloitte’s US firms do not practice law or provide legal advice.

About Deloitte
Deloitte provides industry-leading audit, advisory, tax and advisory services to many of the world’s most admired brands, including nearly 90% of Fortune 500® companies and more than 7,000 companies private. Our people come together for the greater good and working in all areas of the industry that drive and shape today’s market – producing measurable and lasting results that help build public confidence in our financial markets, inspire clients to see challenges as opportunities for transformation and prosperity, and help pave the way for a stronger economy and healthier society. Deloitte is proud to be part of the largest global network of professional services serving clients in the markets that matter most to them. With more than 175 years of service, our network of member firms spans more than 150 countries and territories. See how more than 330,000 Deloitte employees around the world connect to make an impact on www.deloitte.com.

About Thomson Reuters

Thomson Reuters is a leading provider of business information services. Our products include highly specialized software and information tools for legal, tax, accounting and compliance professionals, combined with the world’s most global information service – Reuters. For more information on Thomson Reuters, visit tr.com and for the latest global news, reuters.com.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In United States, Deloitte refers to one or more of DTTL’s US member companies, their related entities which operate using the name “Deloitte” in United States and their respective subsidiaries. Certain services may not be available to certify clients under the rules and regulations of public accounting. Please watch www.deloitte.com/about to learn more about our global network of member firms.

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