| Market Capitalization (Millions $) |
- |
| Shares
Outstanding (Millions) |
- |
| Employees |
2,100 |
| Revenues (TTM) (Millions $) |
786 |
| Net Income (TTM) (Millions $) |
4 |
| Cash Flow (TTM) (Millions $) |
-41 |
| Capital Exp. (TTM) (Millions $) |
22 |
Business Description
Vertex is a pioneer in enterprise tax technology solutions. Our goal is to speed up global commerce one transaction at a time. Vertex is used by companies with complex tax operations to automate their end-to-end indirect tax processes. Our software, content, and services address the growing complexities of global commerce and compliance by reducing friction, increasing transparency, and providing greater assurance in meeting indirect tax obligations. As a result, our software is present in nearly every line item of every transaction that an enterprise can conduct.
The rapid changes occurring in todays global business, technology, and regulatory environments are exacerbating the complexity of indirect tax management. Companies indirect tax obligations expand as they expand their business models through eCommerce and other digital transformation, enter new geographies, and expand their distribution channels. Furthermore, as they broaden their core offerings to include new digital products and services, they are becoming increasingly impacted by new tax regulations pursued by jurisdictions. This complexity necessitates intelligent solutions that allow businesses to meet tax obligations while also supporting growth opportunities.
Our Vertex solutions can automate the end-to-end indirect tax processes for all companies with complex tax operations and audit risk. Our software includes tax determination, compliance and reporting, tax data management and document management tools, analytics and insights, as well as pre-built integrations to major business applications. Customers can utilize these solutions individually or as part of a broader suite and can choose the delivery model that best aligns to their enterprise technology environments.
Tax Determination. Our tax determination solutions enable real-time calculation of indirect taxes and applicable fees for sale and purchase transactions. This solution includes a powerful indirect tax calculation engine that applies rules-based logic from our proprietary content database to determine taxability, identify precise taxing jurisdictions, and consistently apply the appropriate amount of tax to each transaction in real-time. Our solution supports determination for sales tax, consumer and seller use tax, VAT, communications tax, leasing tax, payroll tax and lodging and occupancy tax.
Compliance and Reporting. Our compliance and reporting solutions enable the automation of signature-ready returns and remittance of indirect tax to appropriate jurisdictions. Companies use these solutions leverage tax data files imported from Vertex or third-party applications to establish visible audit trails of tax determinations and user-made adjustments. Our solutions also include workflow management tools, such as calendar and document management, and role-based security and event logging, which supports our customers internal control over financial reporting and compliance with the Sarbanes-Oxley Act. We support e-filing and print formats for returns, schedules, worksheets, tax reports and payment requests, and provide archiving and retrieval of all filings.
Tax Data Management. Our tax data management tools enable enterprises to unify transaction data from multiple business applications and sources. These solutions enable tax teams to view detailed transaction-level tax data, identify anomalies or errors, and establish necessary rules to address gaps in data and audit logs for any adjustments or corrections that have been made.
Document Management. Our document management solutions automate the validation of, storage of, and tax audit support for sales tax exemptions and reseller certificates, enabling enterprises to manage large quantities of documents, such as tax exemption certificates.
Analytics and Insights. Our analytics and insights tools improve data quality and provide data intelligence to optimize the end-to-end tax process and improve business outcomes.
Pre-Built Integrations. Our solutions are supported by a suite of powerful, pre-built integrations that enable real-time coordination between our solutions and major business applications, such as Adobe/Magento, Coupa, Microsoft Dynamics, NetSuite, Oracle, Salesforce, SAP, SAP Ariba, Workday and Zuora, among many others. Much more than traditional application programming interfaces, our integrations include mapping data fields, business logic and configurations to improve the processing of transactions to and from our solutions. The majority of our integrations are designed, tested and supported by us. We also allow for partner-developed integrations as part of a rigorous certification program.
Industry-Specific Solutions. We offer a range of solutions that support certain industries that have specific indirect tax needs, such as retail, communications, and leasing. For example, our retail solution supports omnichannel transactions spanning store kiosks, eCommerce websites, catalog sales and mobile device transactions. Our communications solution supports the determination of taxes, surcharges and fees affecting United States of America ('U.S.') providers of communication services, including wireless, voice-over-IP, satellite, internet and video and audio streaming services. We have pre-built integrations specific to the leading providers of business applications used by these industries.
Technology Specific Solutions ' Chain Flow Accelerator, LCR. We offer a number of technology solutions that offer tools and enhancements to certain eco systems, like SAP or Oracle, that are deeply integrated into their technology stack. For example, our Chain Flow Accelerator tool allows configuration of tax specific flows within the SAP stack. In addition, through the acquisition of LCR Dixon in 2021, we acquired an SAP specific tool set that provides customers the ability to maintain, analyze and validate tax data in procure-to-pay as well as sales and billing systems that enhance its usefulness for indirect taxes as well as other business applications.
Implementation Services. Due to the ubiquitous nature of our software in our customers technology environments, we also offer implementation services to enable our customers to realize the full benefit of our solution at initial deployment. These software implementation services include configuration, data migration and implementation, and premium support and training.
Managed Services. Customers can also license indirect tax returns outsourcing as a managed service for compliance in the U.S. and Canada. These managed services include indirect tax return preparation, filing and tax payment and notice management.
Company Address: 2301 Renaissance Blvd King of Prussia 19406 PA
Company Phone Number: 355-3500 Stock Exchange / Ticker: NASDAQ VERX
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