How the Vertex Solution for Workday Financials Works

When you combine the power of Vertex tax technology with your Workday Financials software, you can automate tax calculation and the maintenance of tax data, reduce manual processes, improve tax accuracy, improve audit performance, provide better tax and compliance reporting, and more. View the infographic below to see how the two tools work together, and read our eBook for even more details on how you can take the pain out of tax calculation with Workday.

Tax determination is quite complex because it relies on a multitude of taxability rules and transaction data points. But the whole process happens in real time once Workday Financials is connected to the Vertex tax engine. Here’s how it works…First, Workday Financials sends the transaction data to Vertex via the integration. Then, Vertex applies address cleansing to ensure the ship-to address is complete and accurate, and mapped to the correct taxing jurisdiction. Then, Vertex automatically calculates the tax based on the transaction details using the embedded tax rules and rates and sends the tax amount back to Workday Financials through the integration to complete the sales and purchase transaction.