Procurement Research Firm Names Vertex a ‘Key Provider’
As a member of the ever-expanding Vertex community, research and advisory firm Ardent Partners helps organizations advance their supply management and procurement practices. Ardent Partners also operates CPO Rising, a media site designed to facilitate the sharing of best practices among chief procurement officers and their teams. A new CPO Rising article details the rationale for Ardent Partners selecting Vertex as one of its “Key Providers in the 2020s.”
This is welcome news considering our commitment to helping companies reduce audit risks and boost efficiencies throughout the procure-to-pay (P2P) process by integrating Vertex technology with procurement systems. The article notes that Vertex solutions “offer greater capabilities to support better and more accurate tax payments than general enterprise systems of record.” A growing number of procurement groups are embracing transformation, and the implementation of advanced procurement tools marks an integral component of those efforts.
The article emphasizes that Vertex has a central role to play in supporting procurement transformation: “The most cohesive and common way to drive efficiencies and value via the tax payment process is via automation solutions and the P2P process is where the ‘rubber hits the road’ for supplier tax payments. Vertex integrates its powerful tax calculation and payment execution capabilities with many of the leading eProcurement and ePayables solutions, empowering the teams most responsible for the payments.”
That type of tax-procurement integration turned out to be valuable in 2020, when carefully managing cash – and tax liabilities – was a crucial success factor. The tax-procurement connection will remain just as important to optimize in 2021, so we’re proud that a leading source of procurement insights has recognized the value Vertex offers in leading P2P processes.
PLEASE REMEMBER THAT THE TAX MATTERS PROVIDES INFORMATION FOR EDUCATIONAL PURPOSES, NOT SPECIFIC TAX OR LEGAL ADVICE. ALWAYS CONSULT A QUALIFIED TAX OR LEGAL ADVISOR BEFORE TAKING ANY ACTION BASED ON THIS INFORMATION. THE VIEWS AND OPINIONS EXPRESSED IN TAX MATTERS ARE THOSE OF THE AUTHORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY, POSITION, OR OPINION OF VERTEX INC.
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