Shifts focus to “next generation” enterprise tax solutions – partners with Thomson Reuters ONESOURCE for smooth client transition
Vertex Inc., a leading provider of corporate tax software and services, announced today that it will phase out its existing legacy income tax solutions over the next 12-to-18 months and focus its resources and efforts on the Vertex Enterprise platform.
“We believe the timing is right to retire our legacy income tax solutions and focus resources on Vertex Enterprise, specifically on tax accounting and tax data management solutions in the near term,” said Jeff Westphal, CEO of Vertex.
With the increase in tax rules and regulations and government scrutiny, Vertex is expanding its presence in the market by providing advanced approaches to managing the corporate tax life cycle. Retiring the legacy income tax solutions will allow the company to better serve the income tax market with Vertex Enterprise.
In addition to retiring its line of income tax compliance solutions, there will also be a reduction in staff impacting Vertex employees who are responsible for supporting these products. The majority of those impacted work out of Vertex’s Sarasota, Florida, location. All employees transitioning out of the company will receive individual career transition assistance and severance packages. They will also be encouraged to apply for any open positions the company currently has posted. Vertex’s Sarasota location will remain open, retaining approximately 70 employees working on Vertex Enterprise.
“Vertex has supported the legacy income tax compliance solutions for more than 10 years and the employees in Sarasota have exhibited a level of professionalism and dedication that is truly amazing. It is our priority to provide both our employees and clients with the highest level of support as they make this transition,” Westphal added.
One example of the level of transition support that Vertex is providing to clients is a migration program arranged with Thomson Reuters – it provides Vertex clients with the ability to transition to Thomson’s ONESOURCE income tax solutions to support the migration to a new solution as quickly and easily as possible.
“We are delighted that Vertex carefully selected Thomson Reuters ONESOURCE as the preferred vendor of choice for their income tax customers. Customer satisfaction through a thoughtful migration program is our priority and we look forward to making their transition onto ONESOURCE Income Tax as simple and seamless as possible,” said Marc Mehlman, managing director, ONESOURCE Direct Tax, of the Tax & Accounting business of Thomson Reuters. “The migration to ONESOURCE will allow customers to continue receiving the high level of support to which they have become accustomed.”
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.