The tax arena in 2018 is all about data and specifically, tax data management. The holy grail is the unification, validation and enrichment of all the financial data, which can be applied across the corporate tax lifecycle at a single source. Not only should this allow archived data to be accessed at any stage, but should also lead to improved accuracy, streamlined data and enhanced accuracy.
With this in mind, corporate interests would be wise to seek out Vertex, which has been central in moulding the tax landscape we know today and which has built a reputation as a global pioneer in getting the tax function working as a strategic driver of business value. In this regard, Vertex Enterprise constitutes a major breakthrough, allowing for pinpoint accurate data management that affords insight into financial and reputational risks, particularly important in this BEPS era of tax transparency and compliance.
It constitutes a corporate tax technology solution that delivers enhanced speed, control and which, most importantly, affords insight, centralising data, as it does from multiple sources into a single platform that can be leveraged across all tax processes and types, in so doing, revolutionising management of the end-to-end tax life cycle. It is a particularly pertinent solution for organisations with multiple entities and financial systems, since it allows for invaluable modelling and planning.
Vertex has been central in moulding the tax landscape we know today.
Moreover, its application to ETR scenario planning, cash tax forecasting, provision close and true ups, transfer pricing, compliance, indirect tax trend analysis, VAT and income tax ensures data is audit-ready. In addition, Enterprise is scalable i.e. it can be implemented piecemeal, or become the driving force behind a full-scale transformation of the tax function.
The key to its centralisation and aggregation of all the diverse data sources that exist in an organisation is the Vertex Tax Performance Engine, which puts to work advanced data connectors.
The benefits of Vertex Enterprise to any organisation are manifold and include the ability to extract raw financial and transaction data for tax purposes, as well as allowing for advance validation and reconciliation of such data.
In addition, it allows for the capturing of data from the general ledger by entity and subledger, to include the underlying details transactions, as well as for the automation of complex, repeatable processes such as book/tax differences for all jurisdictions, state apportionment factors and earnings and profit calculations.
Vertex Enterprise allows for pinpoint accurate data management.
Furthermore, it affords the opportunity to group legal entities by tax jurisdiction, as well as to support a clear trail back to financial system data. On top of this, key systems can be streamlined across the tax lifecycle while eliminating redundancies. Meanwhile, data can be exposed for review and enrichment by subject matter experts at appropriate times and in controlled environments.
Through Vertex Enterprise, the company is accountably driving fundamental change across the tax arena, so leading to its deserved pre-eminence across its target markets.