Oracle today announced that Vertex, Inc. (NASDAQ:VERX), a strategic partner and trusted global provider of indirect tax technology solutions, has seen a significant increase in customer adoption on Oracle Cloud Infrastructure (OCI) over the last 12 months. Joint global customers leveraging Vertex Indirect Tax O Series solutions integrated with their Oracle applications have seen a 35 percent performance boost on OCI versus other environments.
As one of the first tax technology partners to provide validated integrations for Oracle solutions available on OCI, the pace of adoption among joint customers keeps growing. Already, customers have been able to process more than 150 million transactions per month or a total of more than one billion transactions leveraging Vertex tax solutions on OCI in 2021.
A typical customer has 100,000 global transactions a day, half of which require VAT compliance calculations spanning 20 million tax rules. Since those transactions often span sales channels – digital, brick and mortar, etc. – the ability to quickly and consistently process accurate tax calculations and transactions, not only impacts compliance, but business performance. OCI’s powerful compute services help Vertex resolve each transaction in milliseconds, consistently creating a better user experience. Vertex uses OCI’s North America Cloud Regions and is working to expand internationally to Germany.
“We continue to collaborate with our partners at Oracle to advance technological innovation, streamline deployment, and achieve faster time-to-value,” said David DeStefano, chief executive officer, Vertex. “As a result, OCI provides a preferred option for our joint customers, providing the performance, scalability and security they need to help accelerate global commerce.”
OCI’s built-in security, high availability, and superior price-performance help Vertex customers around the world automate their transactions and stay compliant without having to worry about capacity constraints. Vertex O Series on OCI provides a cloud solution for companies that allows for increased flexibility of a tax system configuration without the responsibility of infrastructure, hosting and system maintenance.
“Vertex has been one of our trusted partners for more than 25 years, providing automated tax determination that has enabled our joint customers to modernize their finance and accounting processes and grow their businesses more rapidly,” said Dave Profozich, senior vice president, ISV Ecosystem, Oracle. “The findings speak for themselves and demonstrate that Vertex’s tax solutions running on OCI have helped our joint global customers improve their ROI from the digital transformation of back-office operations.”
Vertex, already a member of the Oracle PartnerNetwork (OPN), continues to expand its partnership with Oracle and has developed advanced capabilities to streamline adoption and implementation for joint customers. In addition, Vertex, an Oracle Cloud Build partner, has achieved Integrated with Oracle Cloud and Powered by Oracle Cloud Expertise. This means customers can be confident that Vertex solutions are supported by the Oracle Cloud Infrastructure SLA, enabling full access and control over their cloud infrastructure services as well as consistent performance.
Oracle and Vertex will jointly market and sell solutions in an alliance designed to expand Vertex’s existing global footprint and provide manageability and security at scale. Vertex’s solutions are available in the Oracle Cloud Marketplace, where customers can search for available applications and services to find the best business solutions for their organization.
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.
Vertex, Inc. is a leading provider of tax technology and services, enabling companies of all sizes to realize the full strategic potential of the tax function by automating and integrating tax processes, while leveraging advanced and predictive analytics of tax data. Vertex provides cloud-based and on-premise solutions that can be tailored to specific industries for every major line of tax, including income, sales and consumer use, value added and payroll. Headquartered in Pennsylvania, and with offices worldwide, Vertex is a privately held company that employs approximately 1,000 professionals and serves companies across the globe.