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Vertex and VAI provide Concordance Health with automated tax process
Vertex, Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, and VAI, a leading ERP software developer, are working together to provide Concordance Healthcare, one of the largest independent healthcare distributors in the U.S., with automated tax management and improved operational efficiency in the supply chain. Integrating VAI’s S2K Enterprise software with Vertex indirect tax solutions, Concordance Healthcare can streamline tax and invoicing processes with high-performance automation and mapping tools.
The volatility of today’s market landscape considering the pandemic has led to modernization across every sector, and for Concordance, the delivery of medical supplies and equipment is imperative. By increasing automation across the supply chain using VAI's S2K Enterprise solution and modernizing the tax process with Vertex, Concordance can increase distribution abilities and decrease costs. In a highly regulated industry, having an efficient and accurate tax management solution will also enable Concordance to remain compliant with healthcare regulations and improve auditing abilities.
Seneca Medical began using VAI’s S2K Enterprise Software in 2005. Concordance was formed as a result of the merger of Kreisers, Inc., MMS – A Medical Supply Company and Seneca Medical in 2016, quadrupling the company’s growth. The company has since seen significant cost savings while reducing inventory levels and increasing fill rates to meet new demand.
“To serve this larger customer base, Concordance added VAI’s Supply & Demand Planning application, providing oversight for the entire organization,” said Maggie Kelleher, Director of Business Development at VAI. “The S2K purchasing technology allows buyers to set targets for purchased items across multiple channels and is critical in reducing total inventory cost by taking advantage of vendor incentives such as eliminating freight cost. S2K gives Concordance complete visibility into its supply, increasing ROI and decreasing obsolete inventory.”
In 2018, Concordance looked to add a robust tax solution to streamline its tax process and enable efficient tax management. With the help of VAI, Concordance selected and launched the Vertex tax solution within 90 days, all while ensuring full integration into VAI’s S2K Enterprise and Supply & Demand Planning applications. Vertex now helps Concordance automate and match tax data with the correct tax codes to enable more accurate invoices and comply with local, state and federal regulations.
“As a growing healthcare distributor, it's imperative for us to have full visibility across our locations and accurately enforce tax management and invoicing," said Keith Price, CIO at Concordance. “We’ve had tremendous success with S2K Enterprise and VAI has always been a trusted partner of ours. VAI introduced us to Vertex, who stood out as a sophisticated and cost-efficient option for meeting all of the tax requirements of Concordance’. We quickly integrated the Vertex solution into our S2K Enterprise and have since reduced the invoicing cycle and modernized our entire tax process.”
“Our indirect tax solutions help Concordance streamline compliance by providing consistent rates and rules to handle tax requirements across all of its systems, enabling the categorization of data in accordance with federal, state and local regulations and increase ROI,” said Vertex Chief Revenue Officer Chris Jones. “We look forward to enhancing our partnerships with Concordance and VAI to deliver more value and accelerate business growth across the board.”
About Concordance Healthcare
Concordance Healthcare Solutions, one of the largest, independent, healthcare distributors in the U.S., was formed through the merger of Kreisers, MMS - A Medical Supply Company, and Seneca Medical. Concordance services the entire healthcare continuum with strategically located distribution centers across the country, and the ability to quickly and efficiently serve over two-thirds of the healthcare systems in America.
About VAI
VAI is a leading independent mid-market ERP software developer renowned for its flexible solutions and ability to automate critical business functions for the distribution, manufacturing, retail, and service sectors. VAI's software solutions are backed by a wealth of experience and a reputation for excellence that countless companies rely on. With specific ERP solutions for Hard Goods, Food, and Pharmaceutical companies, VAI has helped some of the most recognized companies address key industry requirements and deliver bottom-line results. VAI continues to innovate with new solutions that leverage analytics, business intelligence, mobility, and cloud technology to help customers make more informed business decisions and empower their mobile workforce. For more information, visit www.vai.net.
About Vertex
Vertex, Inc. is a leading global provider of indirect tax software and solutions. The company’s mission is to deliver the most trusted tax technology enabling global businesses to transact, comply and grow with confidence. Vertex provides cloud-based and on-premise solutions that can be tailored to specific industries for major lines of indirect tax, including sales and consumer use, value added and payroll. Headquartered in North America, and with offices in South America and Europe, Vertex employs over 1,200 professionals and serves companies across the globe.
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Copyright © 2021 Vertex, Inc. All rights reserved.
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Company Contact
Marisa Norris
Vertex, Inc.
Director, Corporate Communications
marisa.norris@vertexinc.com
Investor Relations Contact
Ankit Hira or Ed Yuen
Solebury Trout for Vertex, Inc.
ir@vertexinc.com
610.312.2890
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