The Tax & Accounting business of Thomson Reuters announced a series of strategies designed to accelerate its global expansion by offering multinational corporations (MNCs) and the global accounting firms that serve them the most comprehensive and integrated solutions for their tax, accounting and financial reporting compliance lifecycle needs.

Key to the company's strategy is its Web-based ONESOURCE global tax workstation, which will be launched in the fourth quarter of 2010. Building off the existing successful ONESOURCE platform for U.S. corporate tax departments and large accounting firms, the new ONESOURCE product line will automate and integrate a series of global tax compliance workflows with local tax compliance tools in countries around the world, thus providing MNCs and their advisors a "one-stop" workflow solution. The ONESOURCE global tax workstation will integrate all of a company's tax planning, transfer pricing, provisions, indirect tax and local tax compliance software solutions into one platform, all powered by the ONESOURCE Workflow Manager solution.

In tandem, the Tax & Accounting business of Thomson Reuters will launch a series of additional new products in 2010 and 2011, which will integrate with the ONESOURCE global tax workstation, including Checkpoint World and Checkpoint Learning. These web-based research and certification platforms are designed to serve the global market. The company will also release API (application programming interface) kits for third party developers early next year, allowing other software providers to integrate their products directly with Thomson Reuters' platforms and data-sets. Later this year, the company will also announce enhancements to its Paisley GRC (governance, risk and compliance) platform.

As part of its strategy, the Tax & Accounting business has now been reorganized into two new global businesses. Workflow & Services Solutions (W&SS), led by Brian Peccarelli, provides tax compliance, accounting and practice management solutions to corporate tax departments and accounting firms. Business Compliance & Knowledge Solutions (BC&KS), led by Mark Schlageter, offers research, guidance, online media, certification and financial compliance solutions. Starting in the second half of 2010, these businesses will be expanding their international sales, technical support and implementation staff in order to serve customers locally in major world markets, with a new office in Singapore opening on Sept. 1.