Vertex, Inc., the leading provider of corporate tax solutions, announced today that its Vertex Enterprise Connector 6.0 for the SAP BusinessObjects Planning and Consolidation application has achieved SAP certification as powered by the SAP NetWeaver technology platform. The solution integrates with SAP BusinessObjects Planning and Consolidation via SAP NetWeaver, providing customers with an automated integrated provision solution using Vertex Tax Accounting. The SAP Integration and Certification Center (SAP ICC) has certified that Vertex Enterprise Connector 6.0 is powered by SAP NetWeaver.
The connector works with SAP BusinessObjects Planning and Consolidation to move trial balance data from the source ERP system into Vertex Enterprise, where it is tax-sensitized by the Vertex Tax Performance Engine and stored for use in the end-to-end tax lifecycle. The Vertex Tax Accounting application uses that tax-sensitized data to manage provision reporting in an automated, integrated way, including:
- Current tax expense and an organization’s current tax position
- Deferred tax expense
- Prior year adjustments and true-ups
- Journal entries and account reconciliation
- Footnotes and audit reporting
Additionally, the Vertex Enterprise Connector is a two-way data connector: it not only automates the data collection from SAP BusinessObjects Planning and Consolidation, but also enables the tax department to export tax journal entries back into the SAP software.
“Vertex has been a trusted SAP tax partner for 20 years and is now pleased to announce it has achieved another SAP certification,” said Paul Beirnes, Director of SAP Solutions Practice at Vertex. “This certification is recognition that Vertex can successfully support business processes running in SAP BusinessObjects Planning and Consolidation, providing users with an automated, integrated global provision solution,” Beirnes added.
With the integration to SAP BusinessObjects Planning and Consolidation, Vertex Enterprise now makes it possible for users of SAP software to automate data acquisition, systematically convert financial data into tax data, and maintain a fully auditable history of the tax sensitized trial balance content. This content can be mapped back to the source ERP system to provide accurate transactional-level data. The connector reduces manual data manipulation and enables automated and repeatable processes, minimizing the potential of human error in the provision process.
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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.
For more information about Vertex, explore Our Company or follow Vertex on Twitter @vertexinc.
Tricia Schafer-Petrecz, Vertex Inc.