Vertex Introduces Vertex® Tax Data Warehouse and Vertex® Tax Accounting at the 66th Annual TEI Conference

Vertex Inc., the leading provider of corporate enterprise tax solutions, today introduced two key building blocks of the company’s Vertex® Enterprise platform, the Vertex® Tax Data Warehouse and Vertex® Tax Accounting, at the 66^th Annual Tax Executives Institute (TEI) Conference in San Francisco, CA. The two new solutions will help companies align financial and tax reporting to drive performance, increasing the quality and efficiency of tax data management and global provisioning.

“These solutions mark the next stage in the development of Vertex Enterprise,” said Jeff Westphal, President and Chief Executive Officer of Vertex Inc. “They also represent the first steps in transforming corporate tax operations and redefining the long-term requirements for tax technology.”

Vertex Tax Data Warehouse represents the first commercially available tax data warehouse built from the ground-up, specifically for tax. Vertex Tax Accounting offers a game changing approach to global provisioning, utilizing the Vertex Tax Data Warehouse as its foundation to eliminate manual data collection practices, support a collaborative provision process and leverage the outputs of provision to downstream to compliance processes.

As a single repository of data for a company, Vertex Tax Data Warehouse captures the relevant information needed to support all outstanding tax obligations and enable strategic planning. By creating a single, secure, and auditable source of global tax information, Vertex Tax Data Warehouse offers, for the first time, centralized data that can be shared and leveraged across the tax planning, provision, compliance, and audit defense processes.

“With Vertex Tax Data Warehouse, we’ve taken a completely unique approach to tax data management,” said John Viglione, Chief Technology Officer of Vertex Inc. “By building a solution from the ground-up, on an open platform designed specifically for tax, we’ve created a transformational foundation for corporate tax departments. It allows companies to take a ‘best practice’ approach to selecting tax management applications and building a technology infrastructure that best meets their needs and integrates with their core ERP and financial management systems.”

“The result is a solution that standardizes data formats, aligns reporting between finance and tax departments, and forms the foundation for multi-year tax planning and risk analysis,” added Viglione.

As an answer to the current siloed process of global provisioning, Vertex Tax Accounting allows for increased data sharing between the tax and finance departments to drive performance. The solution will allow financial and tax provision data and calculations to be leveraged to downstream processes including tax compliance, audit management, and planning.

Designed to handle the high volume, complex and distributed nature of tax data and processes within global multinational corporations, Vertex Tax Accounting is a web-based solution that provides centralized controls, enterprise analysis of the data needed to support local, national, and global reporting, and built-in automated tax account reconciliation and reporting processes.

“The existing processes and technology for global provisioning are not longer suitable for the realities of today’s global corporations,” said Bob Norton, Chief Income Tax Officer for Vertex Inc. “Vertex Tax Accounting is designed to not only streamline a distributed process and elevate it to the enterprise level, but also handle the volume and complexity of global tax and financial data. The end result is vastly improved internal controls and transparency between the tax and finance departments.”

Both solutions are cornerstones of Vertex Enterprise, the company’s data driven, open architecture tax technology that leverages data, calculations and reporting across the end-to-end tax lifecycle of today’s multinationals. They also join Vertex® Indirect Tax O Series®, Vertex’s current industry leading, enterprise level solution that supports U.S. sales and use taxes, as well as value added tax (VAT) and other global transaction taxes in over 200 countries.

“Our expertise in transaction tax related data management and ERP integration uniquely qualifies Vertex to advance the cause of tax technology for the full array of global tax operations,” said Westphal. “This began with Vertex Indirect Tax O Series, now includes Vertex Tax Data Warehouse and Vertex Tax Accounting, and will continue with new solutions as we build Vertex Enterprise into the most transformative platform for corporate tax in decades.”

For more information on the Vertex® Tax Data Warehouse visit: http://www.vertexinc.com/Solutions/Direct/tax-data-warehouse.asp.

For more information on Vertex® Tax Accounting, visit: http://www.vertexinc.com/Solutions/Direct/corporate-tax-accounting-provision.asp.

For more information on Vertex® Enterprise visit: http://www.vertexinc.com/enterprise/.

About Vertex

Founded in 1978, Vertex Inc. is the leading provider of corporate enterprise tax software and services worldwide.

Vertex helps companies 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 600 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.

For more information on Vertex® Enterprise visit www.vertexinc.com/enterprise.