Vertex Creates Unified Tax Solution for Worldwide Tax Visibility

⇨ Just 25% of SAP organizations are planning to infuse automation into their tax process – one of the lowest percentages of any essential finance process.

⇨ Vertex is bringing together the Vertex Tax Accelerator and its Vertex Chain Flow Accelerator for VAT/GST.

⇨ The solution automates tax calculations based on these rates, so organizations consistently have an accurate view of their tax burden.

Companies are constantly in flux – growing, expanding, merging, and acquiring new businesses to improve operations and global reach. When making these changes, tax considerations often take a back seat.

Compared to other areas in finance, tax is falling behind the AI and automation curve. SAPinsider’s recent AI and Automation in Finance Benchmark Report found that just 25% of SAP organizations are planning to infuse automation into their tax process – one of the lowest percentages of any essential finance process. Tax compliance is a complex process, and shifting demands can cause manual errors, as tax teams are often forced to update tax calculations themselves or burden IT for custom builds. This can lead to errors, costing the company significant financial penalties.

Single Unified Global Tax Solution

To help companies with shifting tax burdens and responsibilities, Vertex is bringing together the Vertex Tax Accelerator and its Vertex Chain Flow Accelerator for VAT/GST to offer a unified, worldwide accelerator, Accelerator+ for SAP ERP.

“Accelerator+ for SAP ERP continues and improves all the features and functions of our existing Accelerators for SAP. It offers the same cross-border and intercompany complex chain flow visualization tools, a comprehensive list of pre-built reports, drag and drop data mapping, flex-fields, and a unified set-up, configuration and management interface” said Jeff Bleacher, Sr. Director, Global SAP Solution Center at Vertex.

To alleviate stress on tax teams, Vertex’s solution for SAP provides regular automatic tax content updates monthly to help ensure that local changes to tax regulation throughout the globe are not missed. The solution offers tax visibility, insight, flexibility, and function across all transactions and is delivered without core modification changes and implicit enhancements.

The solution automates tax calculations based on these rates, so organizations consistently have an accurate view of their tax burden. Providing this window into tax requirements is a key priority for CFOs. Having real-time tax information allows finance leaders to set aside just what they need for taxes, freeing up capital for other investments within their SAP landscape.

Leveraging the Move to SAP S/4HANA

As more SAP organizations plan to make the move from SAP ECC to SAP S/4HANA, not just due to the end of maintenance deadline but also to overhaul outdated processes, this digital transformation presents an ideal opportunity to install solutions like Vertex’s Accelerator+ for SAP ERP. By doing so, companies can streamline current business processes and support a clean core. They can also take advantage of simplified tax management, streamlined governance, consistent data for real time compliance, and migrate or update legacy processes and retire custom code from past solutions. Vertex Accelerator+ O Series is a multi-connector system which allows teams to run multiple production instances against a single system creating consistency and reducing risk during migration. It creates options for stepped or phased migration approaches.

“Companies focused on their SAP S/4HANA implementation, will find it valuable to implement Vertex solution for SAP at the same time. Businesses can align those implementation processes and configure them together, so they hit the ground running with a solid solution,” said Bleacher.