KING OF PRUSSIA, PA — Vertex, Inc. (NASDAQ: VERX) announced the launch of Vertex Accelerator+, a next-generation tax management tool designed for SAP ERP systems. Combining the features of Vertex Accelerator and Vertex Chain Flow Accelerator, this new solution aims to simplify and unify tax setup, configuration, reporting, and management for both global and domestic needs.
Vertex Accelerator+ offers a comprehensive interface that streamlines tax processes, supports cloud transformation initiatives, and lays a solid foundation for future migrations to S/4HANA, SAP’s enterprise resource planning suite.
Digital transformation is sweeping across industries, presenting businesses with challenges such as inaccurate tax calculations, manual data handling, compliance issues, and rising costs. Vertex Accelerator+ addresses these common pain points by centralizing tax management and providing advanced reporting capabilities, geo-location identification, and improved goods movement solutions for tax accruals. It integrates seamlessly with Vertex O Series tax engine or Tax Decision Tool for VAT, simplifying complexities for SAP ERP customers managing global supply chains.
“Accelerator+ reflects our dedication to simplifying tax automation and compliance for SAP customers by improving capabilities and usability while reducing complexity and costs,” said Brian Wilchusky, Senior Director of SAP Global Partnerships at Vertex. “We are providing customers with the necessary technology to support their adoption of SAP S/4HANA.”
Vertex Accelerator+ Revolutionizes Efficiency and Compliance
The introduction of Vertex Accelerator+ comes at a critical time as businesses increasingly adopt digital solutions to enhance efficiency and scalability. Accurate tax management is crucial for multinational corporations dealing with diverse tax regulations and compliance requirements. A unified tax management system like Accelerator+ not only enhances accuracy but also reduces the administrative burden associated with manual processes.
For companies navigating global supply chains, the ability to centralize tax functions and provide advanced reporting is invaluable. This can lead to significant cost reductions and improved compliance with various international tax laws. By integrating geo-location identification, Vertex Accelerator+ ensures precise tax calculations based on the specific location of goods and services, which is vital for accurate VAT and sales tax reporting.
Moreover, the solution’s emphasis on supporting cloud transformation initiatives aligns with the broader trend of businesses moving towards cloud-based ERP systems. This shift allows for greater flexibility, scalability, and collaboration across different geographic locations. By offering robust support for these initiatives, Vertex positions itself as a key player in the digital transformation landscape.
The implications of Vertex Accelerator+ extend beyond immediate operational benefits. As companies transition to SAP S/4HANA, having an integrated and efficient tax management system in place can facilitate smoother migrations and reduce potential disruptions. This preparedness can result in faster realization of benefits from the new ERP system, such as improved data analytics, enhanced financial reporting, and better decision-making capabilities.
In summary, the launch of Vertex Accelerator+ represents a significant advancement in tax management technology. It addresses critical challenges faced by businesses in the digital age and provides a robust solution that enhances efficiency, compliance, and scalability. As digital transformation continues to reshape the business landscape, tools like Accelerator+ will be essential for companies striving to stay competitive and compliant in a complex global market.
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