Thomson Reuters fleshes out multicloud strategy with Oracle application migration deal

Thomson Reuters has formed a cloud alliance with Oracle that will see it lean on the database giant’s global network of cloud datacentres to serve up locally hosted versions of its financial applications to enterprises around the world.

The partnership has already resulted in the multinational media conglomerate migrating one of its Onesource portfolio of tax-related applications to the Oracle Cloud Infrastructure (OCI), which is an offering geared towards helping enterprises keep track of their indirect tax liabilities.

Known as Onesource Indirect Tax Determination, Thomson Reuters said it used the Oracle Cloud Lift Services programme to support the software’s migration to OCI and speed up its development into a cloud-native application.

Sunil Pandita, president of corporates at Thomson Reuters, said the Oracle deal is the start of a “robust collaboration” between the two companies, as his firm continues to round out its multicloud strategy.

To date, this work has seen the company work with Amazon Web Services (AWS) to shutter seven of its datacentres, and move more than 400 applications to its public cloud platform, and work with IBM to negotiate other parts of its move off-premise.

“Our customers will continue to receive unmatched data accuracy in more than 56,000 global taxing jurisdictions, along with the cloud security imperative to any technology solution,” said Pandita.

“We’re happy to run our next-generation indirect tax application natively on OCI and open up our indirect tax determination engine to Oracle customers worldwide.”

The collaboration between the two companies will also see them embark on co-marketing and selling initiatives to support Thomson Reuter’s global expansion plans for its Onesource portfolio.

“Oracle’s 30 Cloud Regions worldwide offer close proximity for each Thomson Reuters location and help address data sovereignty requirements, helping to ensure customers know exactly where their data is being processed,” said Oracle, in a statement.

Thomson Reuters’ offerings will also be made available to buy through the Oracle Cloud Marketplace.

Mark Hura, executive vice-president for North America Cloud and Technology at Oracle, said that as well as working to increase the total addressable market for its technologies, Thomson Reuters also stands to gain other benefits from the collaboration.

“A leader for many decades, Thomson Reuters is among the many companies adopting Oracle Cloud Infrastructure for its price-performance advantages, security, global footprint and dedicated cloud engineering services,” said Hura.

“We’re excited to work with Thomson Reuters as it joins the Oracle Cloud Marketplace where our enterprise customers can easily access its global indirect tax solutions.”