The Leading Edge of Tax Compliance

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Although the initial use of edge computing was largely driven by the adoption of Internet of Things (IoT) devices and technologies, it is important to recognize that the capability has growing relevance – and value – for many other activities, including tax data management. This is especially the case in light of the impressive range of retail, e-commerce and payments-related innovations that so many resilient companies deployed in response to last year’s historic disruptions and business challenges. 

The recent acquisition of edge-computing technology start-up Tellutax by Vertex reflects our belief in the capability, as well as our commitment to expanding our offerings into next-generation payment platforms. 

Edge computing enables data to be processed closer to the point at which it is collected. While that may sound like a relatively minor change, the repercussions of this shift are potentially massive. Processing data where it is gathered eliminates latency issues that have hindered remote data-collection processes for decades; this ability also accelerates the automated responses and human decisions that those data analyses enable. 

Edge computing can also mitigate risks and drive benefits in the realm of remote transactions and payments. Last year’s pandemic-driven B2B and B2C e-commerce-related innovations have produced entirely new forms and flavors of transactions. Companies increasingly purchase through marketplaces from sellers located in hundreds of different locations (and tax jurisdictions). More consumers buy online and pickup in store (BOPIS). And a rapidly growing collection of retailers – including home-improvement, grocers and liquor stores – are delivering goods to our doors after transactions occur in-store, via e-commerce sites and mobile apps, or on other channels. 

The complexity of these transactions poses new tax compliance risks, which is where edge computing comes into play. It allows large amounts of transaction data to be processed where it is needed – at the point of sale on a doorstep, curbside, within a livestream or anywhere the transaction takes place. The technology also enables the optimization of tax content by limiting only data needed for specific locations, ultimately accelerating tax determination and reducing the footprint of the edge service.

Our acquisition of Tellutax will help us continue to mitigate tax compliance risks wherever they arise so that our customers can focus more time, resources and ingenuity on developing innovations for their own customers. 

Copyright © 2021 Vertex, Inc. All rights reserved.
The information contained herein is intended for information purposes only, may change at any time in the future, and is not legal or tax advice. The product direction and potential roadmap information is not a guarantee, may not be incorporated into any contract, and is not a commitment to deliver any material, code, or functionality. This information should not be relied upon in making purchasing, legal, or tax decisions. The development, release, and timing of any features or functionality described for Vertex’s products remains at the sole discretion of Vertex, Inc.  Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in Vertex’s filings with the US Securities and Exchange Commission (“SEC) that could cause actual results to differ materially from expectations. Vertex cautions readers not to place undue reliance on these forward-looking statements which Vertex has no obligation to update and which speak only as of their dates. 

Blog Author

Venkatesh Jayaraman: Vice President of Commercial Software Engineering at Vertex Inc. Vertex delivers the world’s most valued tax solutions for companies to connect, transact, and comply while growing their business.

Venkatesh Jayaraman

Vice President, Commercial Software Engineering

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Venkatesh Jayaraman is the Vice President of Commercial Software Engineering responsible for providing strategic direction and technical leadership for the entire software engineering organization including user experience (UX). He is also responsible for the Agile product management organization (PMO), Cloud Operations, and Systems Automation areas of the company.

Venkatesh is a senior technology and software development executive with over two decades of industry experience and an extraordinary record of success in technical leadership, cross-functional product development, and software architecture. Prior to joining Vertex, Venkatesh was in various leadership roles at Citrix Systems and Motorola where he led Agile and cloud transformation across the core engineering and product development organizations. He is experienced in Lean-Agile practices and has a proven record of building business agility while managing large scale enterprise organizations across multiple geographies.

Venkatesh holds a Master's degree in Engineering Management from University of Florida, Gainesville, and a Bachelor's degree in Electrical Engineering from India’s National Institute of Technology.

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Explore Our Acquisition of Edge Computing Company Tellutax

“We believe Tellutax edge technology will extend our leadership in the enterprise market and accelerate our ecosystem expansion into next generation payment and IoT platforms,” said Vertex president and CEO David DeStefano. 

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