Vertex Inc., the leading provider of corporate enterprise tax solutions, announced that its Sales & Use Tax Returns Outsourcing business, processed a record 20,000 returns in the month of January.
In addition to the record month, the team also passed a cumulative milestone, processing more than half-a-million returns since the inception of the service in 2007.
According to Dana Malburg, Practice Leader, “January is always our busiest month as companies’ annual, quarterly and semi-annual returns are due in addition to the usual monthly returns. I’m proud to say our team set a productivity record this past January while maintaining our high level of customer service. And due to filing deadlines and national holidays this year, this work was actually completed in a two-week period.”
The returns outsourcing business has grown at a rate of 20 percent per year since Vertex launched the service. In 2014, the team in Naperville processed more than 175,000 returns and managed more than $3.4 billion in client funds for tax payments.
According to Stephanie Malin, Director of Vertex Managed Services, “The growth of this business reflects the nationwide trend in business process outsourcing. Similar to the outsourcing of payroll processing, many corporate finance departments also outsource the administrative aspects of sales and use tax compliance — from returns preparation and filing to payments and managing notices — so they can focus on more strategic tax work."
For 30-plus years, Vertex has been the market leader in technology solutions for sales and use tax management.
Since 1978, Vertex, Inc., has been 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 over 900 professionals and serves companies across the globe.