Indeed, both products behave similarly, although I cannot say they are compatible as currently we do not provide a report converter
from SSRS. Although it might be necessary to re-write the existing report definitions, the data sources should be generally re-usable also in Telerik Reporting.
Telerik Reporting reports could be fed with data by multiple types of data providers, including object collections. You could check supported ObjectDataSource data sources in this article
The report parameters also behave similarly in both products. You can use parameters to filter the data on DataSource or Report level. Cascading and multivalue parameters are supported. More details and examples concerning Telerik Reporting report parameters could be found in this collection
of help articles.
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