Vertex Expands Partnership and Releases Integration for Mirakl Marketplace Platform with Full VAT Support
Vertex, Inc. (NASDAQ:VERX) has announced its new Vertex Tax Links integration for Mirakl, enhancing compliance with the European Union's new VAT regulations effective July 1, 2021. This integration enables seamless global VAT determination for e-commerce businesses, reducing audit risks. The partnership addresses increasing tax complexities faced by companies operating in the EU, allowing them to focus on marketplace growth. The integration is expected to provide a significant advantage to businesses navigating new VAT challenges.
- Launch of Vertex Tax Links integration for Mirakl enhances compliance with EU VAT regulations.
- Integration reduces audit risks by automating global VAT determination.
- Partnership allows businesses to focus on growth despite increasing tax complexities.
- None.
Solution simplifies compliance for new European Union VAT e-commerce regulations
KING OF PRUSSIA, Pa., June 30, 2021 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, announced its new Vertex® Tax Links integration for Mirakl, the enterprise SaaS platform that powers over 300 online marketplaces. Combined with the existing integration to the Mirakl platform for sales and use tax, Vertex now offers global end-to-end tax solutions for Mirakl customers.
As new value-added tax (VAT) rules for e-commerce transactions take effect on July 1, 2021, this integration will help companies remotely selling and supplying intra-European Union goods by enabling them to seamlessly calculate tax using Vertex® Indirect Tax O Series. Vertex Tax Links for the Mirakl Marketplace Platform enables customers to automate global VAT determination, reducing the risk of audits and penalties due to inaccurate remittance.
In today’s digital first environment, organizations continue to expand their sales channels and drive profitable growth by launching their own enterprise marketplaces. According to a recent study by Mirakl, in the last quarter of 2020, marketplaces grew by more than 80 percent year-over-year, more than double the rate of overall e-commerce growth. However, changes to VAT regulations for e-commerce going into effect on July 1, 2021 in the EU could pose new challenges, increasing complexity with changes to rates, thresholds and remittance processes for all organizations doing business in the EU.
“Together Vertex and Mirakl are helping companies to launch and operate an enterprise marketplace with ease,” said Luca Cassina, Executive Vice President Customer Success B2C EMEA at Mirakl. “With their innovative technology, Vertex enables our clients and the sellers on their marketplaces to easily conform to the new regulation so they can continue to focus on providing a seamless customer experience for shoppers and buyers.”
Mirakl enables B2B and B2C multinational enterprises to launch and scale marketplaces quickly. The world’s most trusted brands choose Mirakl for its comprehensive solution of technology, expertise, and the Mirakl Connect ecosystem to unlock the power of the platform business model. With this new integration, Vertex joins the rapidly growing Mirakl Connect ecosystem providing Mirakl-powered Marketplace operators with an enterprise solution for global tax management, compliance and reporting.
“As our joint customers implement omnichannel strategies to support business expansion and deliver a unified customer experience, VAT regulations on cross-border transactions are creating increased tax complexity. Our focus is on providing flexibility and scalability regardless of changes in tax regulations and requirements,” said Vertex Chief Revenue Officer Chris Jones. “Now customers using the Mirakl Marketplace Platform can more easily comply with the new VAT EU e-commerce regulations and continue to expand their marketplace businesses with confidence.”
For more information about the Vertex integration to Mirakl, visit our website.
About Mirakl
Mirakl offers the industry’s first and most advanced enterprise marketplace SaaS platform. With Mirakl, organizations across B2B and B2C industries can launch marketplaces faster, grow bigger, and operate with confidence as they exceed rising customer expectations. Platforms are the new competitive advantage in eCommerce, and the world’s most trusted brands choose Mirakl for its comprehensive solution of technology, expertise, and the Mirakl Connect ecosystem to unlock the power of the platform business model for them. As a result, companies like ABB, Astore by AccorHotels, Best Buy Canada, Carrefour, Catch, Changi Airport, Darty, The Kroger Co., Leroy Merlin, Maisons du Monde, Metro, and Toyota Material Handling gain the speed, scale and agility to win in the changing eCommerce landscape. For more information: www.mirakl.com.
About Vertex
Vertex, Inc. is a leading global provider of indirect tax software and solutions. The company’s mission is to deliver the most trusted tax technology enabling global businesses to transact, comply and grow with confidence. Vertex provides cloud-based and on-premise solutions that can be tailored to specific industries for major lines of indirect tax, including sales and consumer use, value added and payroll. Headquartered in North America, and with offices in South America and Europe, Vertex employs over 1,200 professionals and serves companies across the globe.
For more information, visit www.vertexinc.com or follow on Twitter and LinkedIn.
Copyright © 2021 Vertex, Inc. All rights reserved. The information contained herein is intended for information purposes only, may change at any time in the future, and is not legal or tax advice. The product direction and potential roadmap information is not a guarantee, may not be incorporated into any contract, and is not a commitment to deliver any material, code, or functionality. This information should not be relied upon in making purchasing, legal, or tax decisions. The development, release, and timing of any features or functionality described for Vertex’s products remains at the sole discretion of Vertex, Inc. Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in Vertex’s filings with the US Securities and Exchange Commission (“SEC”) that could cause actual results to differ materially from expectations. Vertex cautions readers not to place undue reliance on these forward-looking statements which Vertex has no obligation to update and which speak only as of their dates.
Company contact:
Tricia Schafer-Petrecz
Vertex, Inc.
tricia.schafer-petrecz@vertexinc.com
484.595.6142
Investor Relations contact:
Ankit Hira or Ed Yuen
Solebury Trout for Vertex, Inc.
ir@vertexinc.com
610.312.2890
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