|By Business Wire||
|July 28, 2014 08:34 AM EDT||
Vertex Inc., the leading provider of corporate enterprise tax solutions and services, announced today the availability of Vertex® Indirect Tax O Series® Version 7.0. Vertex O Series provides tax professionals with an enterprise-level indirect tax management solution that automatically determines taxability and jurisdictions; maintains accurate tax rates; and calculates Sales and Use Tax for state and local jurisdictions across the U.S., and VAT worldwide. In addition, the solution includes a data repository with flexible reporting capabilities. The latest software release from Vertex includes new and expanded functionality that enables automation of a broader range of transaction tax scenarios.
Major enhancements of Vertex O Series 7.0 include:
- Exemption Certificate Portal (ECP), a customer self-service web portal that provides automated functionality for certificate collection, validation and provision of electronic signatures, as well as an enhanced communications workflow.
- Support for Interstate Commerce reporting, required on many States' sales and use tax returns.
- The addition of United Nations Standard Products and Services Code® (UNSPSC®) support, which includes pre-mapped codes to specific categories, significantly reducing setup and configuration time.
- Support for Standard Audit File for Tax (SAF-T), an international standard for the electronic exchange of accounting data from organizations to tax authorities/auditors, offered in an XML-structured report format featuring reusable filters for jurisdiction-specific reports.
- Additional rates and rules useful to companies in the hospitality industry, including data for lodging and occupancy taxes.
“We are enhancing our industry leading Vertex O Series software by offering a web-based portal to streamline exemption certificate management, significantly increasing the tax research content, and adding functionality for simplified setup,” said Wendy Gerhart, market strategy leader at Vertex. “Our goal is to provide the most comprehensive set of tools in the market to help corporate tax professionals effectively manage indirect taxes. This enables tax departments to achieve greater levels of efficiency and focus on higher-value strategic business initiatives.”
Founded in 1978, Vertex Inc. is the leading provider of corporate enterprise tax software and services worldwide. Vertex helps corporations realize the full financial and strategic potential of corporate tax, offering a variety of solutions that streamline, integrate and automate corporate tax processes. Vertex solutions serve multinational corporations in every major line of business tax, including income, sales, consumer use, value added, communications and payroll.
The company’s offerings are showcased by Vertex® Enterprise, a data-driven, open-architecture approach to tax technology that integrates all direct and indirect tax processes and technologies with host financial system applications on a single platform. The result is increased efficiency, control, transparency and strategic decision making for Tax and Finance departments.
Vertex is a privately held company that employs over 800 professionals across the globe, at its headquarters in the U.S. (Berwyn, Pa.) and offices in Europe (London), Brazil (São Paulo), Dallas, Fort Collins, Naperville, Phoenix and Sarasota.
For more information about Vertex, visit www.vertexinc.com
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