Thomson Reuters ONESOURCE Reviews and Ratings

Rating: 7.2 out of 10

Score

7.2 out of 10

Community insights

TrustRadius Insights for Thomson Reuters ONESOURCE are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.

Pros

Fast and Helpful Customer Service: Reviewers have consistently praised the fast and helpful customer service provided by ONESOURCE. Users appreciate the prompt assistance they receive when encountering any issues or needing guidance. The availability of knowledgeable and responsive support staff ensures a positive user experience.

Easy to Use Platform: Many users have found ONESOURCE to be easy to use, thanks to its simple platform that is accessible to users with varying levels of technical expertise. This user-friendly interface allows individuals without extensive tax knowledge to navigate the software seamlessly and efficiently complete their tasks.

Comprehensive Suite of Tax Tools: ONESOURCE offers a holistic suite of products tailored specifically for tax compliance, making it an excellent choice for users in this regard. With a range of tools and features designed to address various tax-related tasks, reviewers appreciate the comprehensive nature of the software, which simplifies their tax compliance processes.

Reviews

8 Reviews

Thomson Reuters ONESOURCE - for the ever-elusive private Company information

Rating: 5 out of 10

Incentivized

May 1, 2024

Use Cases and Deployment Scope

I have been using it for extracting Company information - especially private Company data; for the OneStop reports on Companies including their numbers, contacts, business ops, analyst opinion if any, etc. as well as industry info. I would like to recommend as a reliable source than many others especially for private Company data which is generally elusive.

Pros

Company data
Private company info
OneStop report on Companies

Cons

More financials
Org structure reporting
More detail oriented

Likelihood to Recommend

While the revenue, headcount and other nos. reported could be sketchy, at the same time, it is one of the few sources capturing the same for private Companies - which is where it comes in handy, as such information is generally elusive on the public domain. It is more reliable than various other, rather dubious, sources.

Verified User

Partner in Professional Services (1-10 employees)

Vetted Review

15 years of experience

ONESOURCE is the ONE

Rating: 8 out of 10

Incentivized

May 3, 2021

Use Cases and Deployment Scope

Thomson Reuters ONESOURCE is used by our HR department to verify new hire background checks and drug screens. This is a one-stop-shop doing both screens with one application. It has saved us time and money. It has an easy-to-use platform that I love. It also has a quick and easy search tool to find older results fast.

Pros

Easy to use
Simple platform that anyone can understand
Turn around time was fast
Customer service was also fast and very helpful

Cons

Contract with more testing facilities for more options for new hires
Find ways to integrate into HRIS systems
Cheaper rates

Likelihood to Recommend

If you have a need for background checks and drug screens for new hires this is a great platform to use. They have an easy-to-use system and give fast results with outstanding customer service. Their turnaround time is better than most and their prices are fair. They work with you to find ways to make the process better for you.

Russ Hinton

HR Generalist in Human Resources at All Native Group Inc (501-1000 employees)

Vetted Review

3 years of experience

My Thomson Reuters ONESOURCE Review

Rating: 8 out of 10

Incentivized

February 3, 2021

Use Cases and Deployment Scope

Thomson Reuters [ONESOURCE] program is used not by the whole organization but within the Tax department and any users that assist with work with members within that department. The [ONESOURCE] program allows our Tax team to efficiently and effectively mange client assets and perform the necessary work for the client that is required.

Pros

[ONESOURCE] allows great customization
[ONESOURCE] allows for easy importing of client data
[ONESOURCE] allows data to be exported efficiently

Cons

Implementing the software can be user intensive
Learning curve for using the program

Likelihood to Recommend

We use [Thomson Reuters ONESOURCE] to prepare federal and state income tax returns which allows us to complete the work assigned very quickly and allow senior members of the team to review the work before submitting in a very fluid state. While not in the tax or busy season, the program is not as used as much.

Verified User

Technician in Customer Service (1001-5000 employees)

Vetted Review

2 years of experience

ONESOURCE is the highest quality income tax preparation software.

Rating: 10 out of 10

Incentivized

November 8, 2019

Use Cases and Deployment Scope

ONESOURCE is used for the income tax preparation for our United States income tax filings. Using OneSource has helped us move the tax preparation process in-house and have better control over data, mitigates cost and reliance on outside providers, and filed in a more timely fashion.

Pros

ONESOURCE allows for easy implementation. We were able to implement the product in a few weeks.
ONESOURCE provides detailed records that provide support for the groupings on the tax return. This will assist in providing documentation to auditors in a timely fashion.

Cons

I don't have any comments on this.

Likelihood to Recommend

ONESOURCE is well suited to help companies move the tax preparation in-house and gives companies the tools required for the tax department to succeed in filing accurate tax returns. The data upload tools have helped us significantly reduce the time required to prepare and file the tax United States tax returns.

Verified User

Manager in Corporate (501-1000 employees)

Vetted Review

7 years of experience

ONESOURCE Review

Rating: 1 out of 10

Incentivized

October 25, 2019

Use Cases and Deployment Scope

OneSource is used to calculate sales and use taxes. It is also used as a record-keeping system. It was used to file returns as well, but we canceled that portion of the software.

Pros

Detailed reports.

Cons

Key fields in data.
Reporting speeds.
Calculations based on latitude and longitude instead of zip code.
Calculate returns based on actual state returns.
Better mapping of addresses.
Quicker responses to customer tickets.
Better connectors to ERP systems.
Easier access to live transactional data.
Free connector to data analysis software like Microsoft SQL.

Likelihood to Recommend

It can handle calculations at retail locations that do not make deliveries. It is not good if your business is based on deliveries.

Verified User

Employee in Finance and Accounting (1001-5000 employees)

Vetted Review

3 years of experience

ONESOURCE - Tax Compliance Suite...it's Sweet!

Rating: 7 out of 10

Incentivized

October 25, 2018

Use Cases and Deployment Scope

We use ONESOURCE exclusively for our Tax and Transfer Pricing compliance process, including BEPS and provision processes. To my knowledge, we are the only department in the organization that uses ONESOURCE. We generally lean towards the use of ONESOURCE when considering new software applications with regard to our tax compliance efforts.

Pros

ONESOURCE is excellent for providing a holistic suite of products that are specifically geared toward tax compliance.
ONESOURCE also does an excellent job of maintaining a fresh look and appearance to their products, but doesn't change the base functionality just to sell more or improve the look of the product.
ONESOURCE also does an excellent job of maintaining current tax information. In an ever changing tax world, this is the most important thing for a piece of tax software to provide.

Cons

There are some aspects of the ONESOURCE suite that are a bit clunky. Their all cloud based environment is a great idea, but when you are talking about hundreds and thousands of tax forms, entity data, and general ledger detail recalculating, sometimes a web-based approach isn't the best option.
While their support team is very knowledgeable and very willing to help, sometimes it is tough to navigate which support team you need simply due to the volume of products they offer.
Products can sometimes be rushed to market in order to be the "first one available". This is great for initial market capture, but if the product has not been well thought out and doesn't conform to the specific tax compliance effort, chances of maintaining use of the product aren't likely to be great.

Likelihood to Recommend

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.

Verified User

Supervisor in Finance and Accounting (5001-10,000 employees)

Vetted Review

8 years of experience

Indirect Tax Manager

Rating: 7 out of 10

Incentivized

May 21, 2018

Use Cases and Deployment Scope

Our organization utilizes ONESOURCE for a variety of tax reporting functions. The main focus area where I have used ONESOURCE is for tax information reporting, specifically relating to 1099-K and 1099-MISC reporting.

Pros

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.

Cons

ONESOURCE absolutely needs to restore their TIN Matching feature. Not having a TIN Matching feature is huge and needs to be addressed immediately.
The software interface itself is outdated and clunky. It is way behind in terms of user-friendliness and convenience. Additionally, it is only compatible with Internet Explorer. ONESOURCE is literally the only reason I would ever access Internet Explorer which is notably slower and more prone to freezing than Google Chrome or Safari. A good portion of our business uses Macs which means they are SOL on accessing ONESOURCE.
The ability to look at multiple tax years for a single recipient would be huge. Currently, if a recipient asks us to pull three years of data, this means three different searches within each year's ONESOURCE instance. It's tedious and could be improved.

Likelihood to Recommend

The capabilities of the software are great compared to other tax information reporting softwares in the market, but overall the system is outdated and not intuitive. There are major improvement areas but all in all, they get the job done.

Verified User

Project Manager in Finance and Accounting (5001-10,000 employees)

Vetted Review

2 years of experience

Excellent in terms of performance and stability - but high TOC. (Maintenance/implementation cost

Rating: 7 out of 10

Incentivized

February 14, 2018

Use Cases and Deployment Scope

We use Onesource as an enterprise standard for indirect tax determination. It is connecting to multiple ERP systems (both SAP and Oracle) within the organization.

Pros

Performance
Regular update of tax content
Ability to connect to multiple platforms

Cons

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).

Likelihood to Recommend

High volume tax determination for AR and AP transactions

Verified User

Executive in Professional Services (11-50 employees)

Vetted Review

3 years of experience

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ONESOURCE - Tax Compliance Suite...it's Sweet!

Rating: 7 out of 10

Incentivized

October 25, 2018

Use Cases and Deployment Scope

Pros

ONESOURCE is excellent for providing a holistic suite of products that are specifically geared toward tax compliance.
ONESOURCE also does an excellent job of maintaining a fresh look and appearance to their products, but doesn't change the base functionality just to sell more or improve the look of the product.
ONESOURCE also does an excellent job of maintaining current tax information. In an ever changing tax world, this is the most important thing for a piece of tax software to provide.

Cons

There are some aspects of the ONESOURCE suite that are a bit clunky. Their all cloud based environment is a great idea, but when you are talking about hundreds and thousands of tax forms, entity data, and general ledger detail recalculating, sometimes a web-based approach isn't the best option.
While their support team is very knowledgeable and very willing to help, sometimes it is tough to navigate which support team you need simply due to the volume of products they offer.
Products can sometimes be rushed to market in order to be the "first one available". This is great for initial market capture, but if the product has not been well thought out and doesn't conform to the specific tax compliance effort, chances of maintaining use of the product aren't likely to be great.

Likelihood to Recommend

Verified User

Supervisor in Finance and Accounting (5001-10,000 employees)

Vetted Review

8 years of experience