Tag: Vertex

Online traders worried about tax

Posted on February 24, 2023 by - News

More than 87 per cent of sellers using marketplaces to trade online report experiencing revenue increases and see it it as a vital channel for growth, according to new research from Vertex.

However, 70 per cent believe that indirect tax challenges could deter them from using marketplaces in the future.

The research which surveyed 479 finance professionals globally (split between operator and seller businesses) found that 81 per cent of businesses are taking advantage of marketplaces to attract new customers and sell into more countries.

They attribute this expansion into marketplaces for the following reasons: to reach a wider geographical market (57 per cent); to be more competitive (50 per cent); to tap into cross-border sales opportunities (48 per cent); and to help manage tax liabilities (34 per cent).

Vertex snaps up LCR-Dixon

Posted on September 27, 2021 by - News

Tax outfit Vertex has acquired SAP company LCR-Dixon to allow its partners to cover more taxing SAP business.

LCR-Dixon makes tools enhance a customer’s ability to maintain, analyse and validate tax data in procure-to-pay as well as order-to-cash. All this makes for simplification of tax complexity in SAP environments, it’s said.

Vertex CEO David DeStefano said: “We believe the addition of LCR-Dixon’s unique suite of solutions with Vertex tax technology delivers an incomparable value to our customers who need to manage complex global compliance requirements. We share a common vision and principles based upon loyalty, consideration and respect. Vertex and LCR-Dixon have enjoyed a long-standing partnership and together have delivered best-in-class solutions to some of the world’s largest companies running SAP.”