How Vertex Helped Costco Overcome Tax Challenges
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Key Takeaways
⇨ Companies must update and optimize their tax systems to minimize tax burdens and operate efficiently.
⇨ Vertex recently shared the story of how Costco was able to use the solution to meet its needs.
⇨ Vertex emphasizes adaptability and scalability, ensuring that any solutions will continue to provide agility to users.
There are significant changes happening within tax compliance landscapes, which also yields a significant amount of potential where companies can find value. Companies must update and optimize their tax systems to minimize tax burdens and operate efficiently.
More than 83% of SAP organizations said they need to manage and use data in a flexible and efficient manner to accelerate business demands, according to SAPinsider’s recent AI and Automation in Finance Benchmark Research Report.
These kinds of solutions can be especially impactful for tax teams, as regulations are constantly shifting. To meet these demands, Vertex offers its O Series solution. The Vertex O Series solution allows companies to automate and centralize tax determination on sales and purchases. It integrates seamlessly with SAP, allowing companies to gain full visibility and control of their tax landscape.
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Success Story – Costco
Vertex recently shared the story of how Costco was able to use the solution to meet its needs. Costco opted to use Vertex primarily for its ecommerce system. It implemented Vertex O Series for its business-to-consumer website, its business-to-business website, and its kiosk website.
“With the Ariba tax connector, we were able to integrate our Ariba solution with Vertex O Series to get more accurate tax calculations on our IT procurement system. We partnered with Vertex consulting on a few of our projects and that was really helpful because they met us where we were at. Sometimes our strategy would change from year to year, but they were always willing to partner with us and help us in our journey,” said Grace Palisoc, Tax Technology Manager for Costco.
Costco wanted to operate with an eye towards the future, ensuring that any solutions they implement will work not just today, but also tomorrow. Vertex emphasizes adaptability and scalability, ensuring that any solutions will continue to provide agility to users. This allows companies to accommodate any new regulations without having to overhaul their entire tax system.
Conclusion
Taxes are always in flux, as regulations shift and companies move their operations to new jurisdictions. Unfortunately, taxes are often an afterthought when companies make decisions like this. To keep pace, many SAP organizations are turning to solutions like Vertex O Series to automate and centralize tax calculations. This solution offers scalability and integration, allowing businesses to grow without limitations.
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