Collaborative approach to advancing next generation tax technologies
King of Prussia, PA
Vertex, Inc., a leading provider of tax technology and services, is launching Vertex Innovation Labs, expanding its community of co-innovation with clients and partners throughout the tax, regulatory and technology industries.
From legislative changes, to digital tax initiatives, businesses across the globe are faced with increasingly complex tax and regulatory challenges. The mission of the Innovation Labs group is to further advance a vision for next-generation global commerce by automating compliance and business transformation. This includes focusing on new regulatory models based upon emerging trends, such as compliance by design and real-time taxation. The Labs co-innovation processes help clients and promising startup enterprises leverage and orchestrate the latest technologies including machine learning, blockchain/shared ledgers, advanced analytics and the internet of things (”IOT”).
Vertex provides business and technical development, as well as mentoring, subject matter expertise, and access to a network of high-quality relationships to grow ideas from concept to scalable solutions. Vertex Innovation Labs can help entrepreneurs and intrapreneurs harness emerging technologies and a broad portfolio of Vertex solutions to supercharge promising opportunities.
“The focus of this group is to partner with industry leaders and aspiring regulatory technology startups to investigate the convergence of disruptive technologies to deliver tax and compliance solutions that address and resolve market pain points,” said David Deputy, director of strategic development and emerging markets at Vertex. “As emerging technologies drive global commerce, one of our main goals is to create new business value for our clients, in addition to fostering a community of co-innovation within the tax and compliance industries.”
Vertex tax software streamlines calculation and reduces risk on a global basis, enabling tax departments to manage new requirements and support broader business strategies. Vertex solutions coupled with the Innovation Labs, will help to create a community of co-innovation and enable tax and regulatory transformation for businesses of all sizes across the globe.
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 indirect tax, including 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.