Vertex® Leads the Way in Retail Tax Automation
More than 400 Retailers Utilizing Vertex for Tax Process Compliance
Berwyn, PA – December 16, 2009 – Vertex, Inc., the leading provider of enterprise corporate tax solutions, has secured its position as the leading tax automation provider for the Retail industry by achieving substantial sales throughout 2008 and 2009 to major national and international retailers.
Retailers are in support of Vertex and have voiced their opinion in a recent market survey slating Vertex® O Series® as a “Best Investment for 2010.” According to market research, 60 percent of top 10 apparel and accessory Retailers and 50 percent of the top 10 general merchandise and e-tail Retailers have turned to Vertex to provide their tax process management solution. Retailers utilizing Vertex Solutions include Aldo Group, Dollar Tree Management Inc., and Michael’s Stores.
“The continued growth that we are experiencing with sales of Vertex O Series to the Retail industry, demonstrates the value that this product is bringing to a specialized market segment,” states John Cowan, Director of Solutions Practice.“ Fifty percent of the top 10 North American Retailers have acknowledged that only Vertex provides solutions to support the complex transactional environment of this market.”
Retailers are facing increasing challenges to comply with complex state and local tax regulations for managing the taxability of: multi-channel transactions, a high-volume of transactions, jurisdictional special tax rates and rules, and increasing growth and market expansion through mergers and acquisitions. Through Vertex O Series, these Retailers are finding the solution they need which delivers a multi-channel, end-to-end comprehensive and centralized indirect tax solution.
Vertex recognized early on that automating the tax at the Retail POS level would involve integrating with dozens of POS systems and versions. Therefore, the retail solution was designed from the ground-up to deliver a superset of tax data that has easily integrated with the existing legacy or new tax data models of merchandising and POS systems. In addition, certain POS providers have integrated their POS applications to the Vertex Retail In-Store Tax Engine. Vertex’s Retail Partner program is currently engaged with the top POS providers to create an even more seamless and functionally rich solution for indirect tax as they evolve their ability to help our clients accomplish the highest degree of accuracy for all nuances of the tax law.
Furthermore, to ensure the success of all retail clients, Vertex offers Vertex Consulting Services to provide guidance on tax system implementation, tax process optimization, and tax data management services.
“Being the leader in retail tax automation solutions indicates that the industry has a trusted partner in Vertex,” says Jeff Westphal, Vertex President and CEO. “While the past two years have undeniably established Vertex as the industry’s preferred provider of tax automation solutions in retail, the future will continually demonstrate our commitment to research and development to benefit the retail market segment even further.”
About Vertex O Series
Vertex O Series is an end-to-end solution with a suite of integrated modules managing sales, consumer use, and value added taxes. In addition, companies in the Retail and Leasing industries can utilize tax content and integrations specific to their complex market needs. Vertex O Series offers centralized control with distributed processing, consolidation of tax results for reporting and internal controls providing Sarbanes-Oxley compliance, reducing audit risk and exposure. The capabilities of Vertex O Series to support consistent and accurate sales tax calculation across all sales channels have made Vertex the obvious choice in retail tax automation solutions.
About Vertex Inc.
With nearly 30 years of experience, Vertex Inc. is the leading provider of enterprise corporate tax solutions, delivering products and process management services to customers worldwide.
Vertex solutions help companies streamline tax compliance processes and leverage information to discover new strategic tax savings. In addition, they enhance decision information across every major line of business tax, including income, sales, consumer use, value added, communications, and payroll. To serve its customers, Vertex works in partnership with the world’s leading providers of ERP software and related services.
Founded in 1978, Vertex is a privately held company that employs over 600 professionals at its headquarters in the U.S. (Berwyn, Pa.) and Europe (London), and its offices in Atlanta, Dallas, Phoenix, Sarasota, and Washington, DC.C.
For more information about Vertex, visit www.vertexinc.com.
Press Contact: Cindy Spiecker |
Company Contact: Brigitte Geiss |
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