Vertex, Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, is expanding its portfolio by announcing the availability of Systax DFE (electronic fiscal documents), a cloud-based accounts payable (AP) invoice validation tool that helps global multinationals and Brazilian-based companies with indirect tax compliance in Brazil. The addition of this product enables Vertex to continue to expand its content and footprint in Latin America, while extending Systax solutions more broadly in North America and Europe.
Systax, a Vertex affiliate, offers Systax DFE to help companies manage the receipt, validation and compliance for e-invoices by automatically and securely obtaining documents from relevant tax authorities in Brazil. The solution simplifies indirect tax processes by monitoring and standardizing invoices, as well as reducing fraud and errors across registration platforms at the federal, state, and municipal levels.
“As businesses expand their operations across the globe, and tax scenarios become more complex, our solutions streamline indirect tax processes,” said Vertex Vice President of Global Operations Rebecca Polley. “Systax DFE is a powerful solution that effectively helps manage and support e-invoice requirements in the Brazilian market.”
Brazil has one of the most complex and advanced tax technology environments in the world. The use of e-invoices for compliance is mandatory for all companies doing business in the country and requires data on a granular level. The Systax DFE system constantly scans across all 27 states and over 1,000 city invoice registration platforms, downloading the relevant registered invoices. It monitors, manages and archives the XML files required for compliance, and can also validate invoice and tax data accuracy, registration validation of suppliers, and confirmation with the tax authorities.
“Our affiliation with Vertex will empower thousands of multinational companies to conduct business in Brazil with greater confidence in meeting the country’s complex tax compliance requirements,” said Jerson Prochnow, CEO of Systax. “We look forward to helping businesses thrive in this growing market by providing them with a high-performance, scalable tax solution.”
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.