Vertex Launches Accelerator+ for SAP ERP, Delivering a Unified Global Platform to Navigate Tax Complexities
Vertex, a global tax technology solution provider, has launched Vertex Accelerator+ for SAP ERP, consolidating features of previous tools into one global solution. This tool simplifies tax management for businesses operating domestically and internationally by integrating tax calculation, reporting, and geo-location identification. Aimed at addressing common challenges like inaccurate tax calculations and manual data handling, Accelerator+ supports businesses' digital transformation and migration to SAP S/4HANA. It enhances operational efficiency, reduces costs, and ensures compliance. Existing customers can continue using their current solutions until they choose to migrate.
- Launch of Vertex Accelerator+ offers a unified global tax management solution.
- Simplifies and centralizes tax setup, configuration, and reporting processes.
- Supports digital transformation and migration to SAP S/4HANA.
- Addresses common scalability challenges such as inaccurate tax calculations and manual data handling.
- Improves operational efficiency and reduces costs for businesses.
- Features advanced reporting and geo-location identification for tax accruals.
- Provides flexibility for existing customers to migrate at their own pace.
- No specific financial performance data or projections provided.
- Potential high cost of adoption for small and mid-size businesses.
- Unclear timeline for customer migration to the new solution.
Insights
Vertex's launch of Accelerator+ for SAP ERP represents a significant move in the tax technology market. By consolidating the features of its previous offerings into a single platform, Vertex addresses key scalability challenges faced by businesses during digital transformation. This can attract more SAP ERP customers, potentially driving revenue growth for Vertex in the short term. Additionally, the focus on simplifying tax processes and facilitating cloud transformation aligns with current market trends, likely fuelling long-term adoption. However, it's essential to monitor how smoothly existing customers transition to this new solution and whether it genuinely reduces costs as claimed.
An important aspect for investors to consider is the potential increase in recurring revenue from subscription models associated with the Accelerator+. This could enhance Vertex’s financial stability and predictability, appealing to long-term investors.
From a technology standpoint, the launch of Vertex Accelerator+ for SAP ERP marks a substantial innovation in the field of tax management. Integrating features from both Vertex Accelerator and Vertex Chain Flow Accelerator into one solution streamlines operations and enhances user experience. This is particularly relevant for businesses managing complex global supply chains, as it offers advanced reporting and geo-location capabilities.
The ability to support cloud transformation and ease the migration to SAP S/4HANA is significant, given the increasing shift towards cloud-based solutions. However, the success of this tool will largely depend on its seamless integration with existing SAP systems and its actual performance in reducing tax-related complexities.
Simplified functionality and enhanced operational efficiency for SAP businesses operating domestically and globally
KING OF PRUSSIA, Pa., June 03, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, today announced the launch of Vertex Accelerator+ for SAP ERP – the next generation tax management tool that combines the features of Vertex Accelerator and Vertex Chain Flow Accelerator into a single consolidated global solution. This innovative solution offers a comprehensive and intuitive interface, simplifying and unifying setup, configuration, reporting and tax management for all global and domestic needs. Accelerator+ enables business growth by streamlining tax processes, facilitating cloud transformation initiatives and establishing a solid foundation for any current or future migration to S/4HANA.
With the rise of digital transformation across various industries, businesses are facing common scalability challenges – including inaccurate tax calculations, manual data handling, compliance concerns and rising costs. Accelerator+, deployed either with Vertex O Series tax engine or Tax Decision Tool for VAT, simplifies these complexities for SAP ERP customers managing global supply chains. The solution provides a multitude of essential features, providing centralization, advanced reporting, geo-location identification and an improved goods movement solution for tax accruals.
“Accelerator+ reflects our dedication to simplifying tax automation and compliance for SAP customers by improving capabilities and usability while reducing complexity and costs. Ultimately, we are providing customers with the necessary technology to support their adoption of SAP S/4HANA,” said Brian Wilchusky, Senior Director of SAP Global Partnerships at Vertex. “Vertex remains committed to assisting SAP customers in achieving positive outcomes and realizing the goals of their business and process transformations.”
Existing customers will have the flexibility and support to utilize the solutions within their current portfolio until their decision to migrate at a time that suits their needs.
Visit here to learn more about Vertex Accelerator+ for SAP ERP. For further details on how Vertex solutions integrate with SAP and to explore our tax technology suite, browse our SAP partner page.
About Vertex
Vertex 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 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 1,400 professionals and serves companies across the globe.
For more information, visit www.vertexinc.com or follow us on Twitter and LinkedIn.
Copyright © 2024 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 U.S. 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.
Vertex Company Contact:
Rachel Litcofsky
Vertex, Inc.
mediainquiries@vertexinc.com
Investor Relations Contact:
Joe Crivelli
Vertex, Inc.
ir@vertexinc.com
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