Vertex Reveals Marked Improvements for Customers Utilizing Indirect Tax Solutions on Oracle Cloud

October 03, 2023 at 08:00 AM EDT

KING OF PRUSSIA, Pa., Oct. 03, 2023 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ: VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, and member of Oracle PartnerNetwork (OPN), today shared initial findings from a benchmarking study which reveals several performance improvements experienced by Oracle customers leveraging Vertex indirect tax solutions on Oracle Cloud Infrastructure (OCI).

Vertex and Oracle’s global customers process hundreds of millions of transactions per month on OCI. Customers hosting Vertex solutions on OCI reported an overall performance increase of 35%. The same customers also reported an average performance increase of 20% in Accounts Receivable processing and 14% in Accounts Payable processing. Additionally, customers using the Vertex Accelerator on OCI have reported the ability to set up and configure their Oracle ERP and Vertex O Series tax engine in a matter of minutes delivering a faster time to “Go Live.”

“The initial findings from our benchmark study highlight the value of our integrated platforms and solutions, as well as our continuous development and innovation with the Oracle team,” said Marc A. Duclos, global senior director of strategic partnerships at Vertex, Inc. “Our ability to integrate with and host on Oracle Cloud Infrastructure brings the applications and data closer, allowing us to deliver solutions and performance for joint customers regardless of how or where they do business.”

Since its initial release more than three years ago, the Vertex Accelerator for Oracle’s ERP offering has been steadily delivering a “near push-button” experience for more than 150 global customers looking to integrate Vertex tax solutions. Vertex tax solutions are designed to scale and handle complex tax and compliance requirements, enabling Oracle customers to streamline global tax compliance with a single integrated platform.

Vertex, an Oracle Cloud Build partner, has achieved Integrated with Oracle Cloud and Powered by Oracle Cloud Expertise. This means Vertex’s global solutions are not only designed specifically to integrate with and run on OCI, but have been validated, by Oracle, to work as expected with any Oracle applications and/or data hosted in OCI and meet their performance and security standards.

“Vertex continues to be one of our most trusted partners,” said Mike Cavanagh, group vice president, Cloud Native Sales, North America, Oracle. “Vertex solutions hosted on Oracle Cloud Infrastructure not only provide customers with optimal performance, but also enable fast go-lives and deployments. This helps to reduce complexity for tax and finance teams, while also easing the burden on IT teams in terms of onboarding, configuration, and maintenance.”

Vertex and Oracle have been partners for more than 30 years, with a common goal – to help companies of all sizes grow their businesses while reducing risk.

For more information on Vertex tax solutions hosted on Oracle OCI, click here.

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 on Twitter and LinkedIn.

About Oracle PartnerNetwork

Oracle PartnerNetwork (OPN) is Oracle’s partner program designed to enable partners to accelerate the transition to cloud and drive superior customer business outcomes. The OPN program allows partners to engage with Oracle through track(s) aligned to how they go to market: Cloud Build for partners that provide products or services built on or integrated with Oracle Cloud; Cloud Sell for partners that resell Oracle Cloud technology; Cloud Service for partners that implement, deploy and manage Oracle Cloud Services; and License & Hardware for partners that build, service or sell Oracle software licenses or hardware products. Customers can expedite their business objectives with OPN partners who have achieved Expertise in a product family or cloud service. To learn more visit: http://www.oracle.com/partnernetwork.

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COPYRIGHT © 2023 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.

Company contact:
Rachel Litcofsky
Vertex, Inc.
mediainquiries@vertexinc.com