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Vertex CFO on Strong Earnings: Indirect Tax Automation is a Must-Have

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Key Takeaways

⇨ On the earnings call, the Vertex CEO mentioned a competitive six-figure deal won in the fourth quarter that focused on deploying cloud-based indirect tax determination automation.

⇨ The contract win call-out aligns with SAPinsider research highlighting intelligent and real-time tax determination and compliance reporting as critical to a successful global tax management strategy.

⇨ Vertex's strong earnings and guidance, along with CEO and CFO comments that tightly align with SAPinsider research, confirm that organizations that fail to invest in indirect tax automation risk falling behind.

This week, Vertex released 2022 fourth-quarter earnings and full-year 2023 guidance above Wall Street’s expectations. On the earnings call with investors following the announcement, Vertex CEO David DeStefano spoke about the favorable tax compliance environment for his company’s product offerings. He stated, “Businesses today face immense regulatory change and indirect tax complexity. These challenges intensify...

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