Description of Vertex Inc's Business Segments

Vertex Inc. is a leading provider of sales and use tax automation solutions. The company specializes in helping organizations effectively manage their tax compliance processes while optimizing their overall tax functions. Vertex offers a comprehensive range of segments, products, and services tailored to address the diverse needs of various industries. Below is an extensive overview of their offerings:

1. Segments Served
Vertex Inc. caters to a wide variety of industries, acknowledging that tax compliance challenges can significantly differ across sectors. Their primary segments include:

- Retail and E-commerce: Companies within these sectors face unique challenges due to the complexity of sales tax rates and regulations varying by jurisdictions. Vertex provides solutions to streamline tax calculations for both physical and online sales.

- Manufacturing: Vertex supports manufacturers with tax compliance considerations related to goods produced, raw materials, and services rendered. They help in addressing issues around manufacturing exemptions and industry-specific tax rules.

- Technology Services: As businesses increasingly transition to tech-driven solutions, Vertex provides specialized services to software and technology companies to manage taxes associated with digital products, subscriptions, and services.

- Financial Services: Vertex offers solutions tailored for financial institutions to manage compliance related to capital gains, interest income, and other financial transactions, which are heavily regulated.

- Healthcare: The healthcare sector has unique tax exemptions and regulations. Vertex provides tools to navigate tax issues related to medical devices, pharmaceuticals, and healthcare services.

- Telecommunications: Vertex assists telecom companies in dealing with complex tax regulations associated with service bundles, varying rates, and jurisdictional compliance.

Products
Vertex's product suite is designed to integrate seamlessly with various enterprise resource planning (ERP) systems and other business applications, enhancing tax compliance processes for organizations. Key products include:

- Vertex AvaTax: This cloud-based sales and use tax calculation software automates tax calculations on transactions in real-time. The product integrates with various ERP platforms to ensure accuracy and compliance.

- Vertex Indirect Tax O Series: A robust solution for managing sales and use tax, this product provides guidance on compliance strategies, tax rate determination, and jurisdictional regulations.

- Vertex Returns: This service automates the preparation and filing of sales tax returns, helping businesses comply with reporting requirements efficiently and accurately.

- Vertex Utility Solutions: Specifically designed for utility companies, this product manages tax compliance related to consumption taxes unique to the utility industry.

- Vertex Property Tax Solutions: This product supports businesses in managing property tax compliance, assessments, filings, and appeals.

- Vertex Tax Research: This solution provides access to up-to-date tax data, rules, and regulations, allowing businesses to stay informed and compliant with the latest tax law changes.

Services
In addition to its product offerings, Vertex provides various services designed to enhance tax compliance and maximize efficiency for its clients:

- Implementation Services: Vertex offers comprehensive support for deploying its tax solutions. Their implementation team works closely with clients to customize solutions to meet unique business needs.

- Training and Support: Vertex provides extensive training programs to ensure that users are fully equipped to utilize the products effectively. Ongoing support services are also available to address any operational challenges that may arise.

- Tax Advisory Services: Vertexs experts offer consulting services covering various aspects of tax compliance, risk management, and strategic planning. This includes guidance on navigating complex tax regulations.

- Integration Services: Vertex assists businesses with the integration of their tax solutions into existing systems, ensuring interoperability and data consistency across platforms.

- Ongoing Compliance Monitoring: To help businesses stay compliant with evolving tax regulations, Vertex offers services that monitor changes in tax laws and provide timely updates to clients.

- Custom Development Services: For businesses with unique requirements, Vertex offers custom development solutions to tailor their products and services to specific business needs.

In summary, Vertex Inc. provides a comprehensive and tailored approach to tax automation and compliance, addressing the specific challenges faced by various industries. Their extensive range of products and services, coupled with industry expertise, positions them as a valuable partner for businesses seeking to enhance their tax management processes.

Composition of Vertex Inc Revenues by Segments


Software subscriptions	86.27 %	of total Revenue
Software licenses	44.4 %	of total Revenue
Cloud subscriptions	41.87 %	of total Revenue
Services	14.26 %	of total Revenue

Q3 three months ended (Sep 30 2024)
Revenues by Business Segments	Revenues (in millions $)	% (of total Revenues)
Software subscriptions	146.25	86.27 %
Software licenses	75.27	44.4 %
Cloud subscriptions	70.98	41.87 %
Services	24.18	14.26 %
Total	169.52	100 %

Q3 three months ended (Sep 30 2024)
Revenue Growth rates by Segment	Y/Y Revenue %	Q/Q Revenue %
Software subscriptions	20.59 %	7.19 %
Software licenses	12.96 %	7.38 %
Cloud subscriptions	29.89 %	6.99 %
Services	1.85 %	-1.95 %
Total	17.6 %	5.23 %

Q3 three months ended (Sep 30 2024)
Income by Business Segments	Income (in millions $)	% (Profit Margin)
Total	7.22	4.26 %

Q3 three months ended (Sep 30 2024)
Income Growth rates by Segment	Y/Y Income %	Q/Q Income %
Total	-	39.83 %

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