A leading global provider of indirect tax technology, Vertex solutions are trusted by more than half of the Fortune 500 to address the compounding impact of business, regulatory, and technology complexity.
Partners for more than 25 years, Vertex and Oracle have helped more than 1,500 joint customers simplify tax complexity with improved accuracy and reduced audit risk.
We continue to collaborate with our partners at Oracle to advance technological innovation, streamline deployment, and achieve faster time to value. As a result, OCI offers a preferred option for our joint customers, providing the performance, scalability, and security they need to help accelerate global commerce.
The company decided to partner with Oracle to offer Vertex Indirect Tax O Series on Oracle Cloud Infrastructure (OCI), providing a host of integration benefits to customers running both Vertex and Oracle business applications (Oracle Cloud ERP and Oracle NetSuite ERP).
By running Vertex solutions on OCI, joint Vertex and Oracle application customers are able to consistently manage and comply with sales tax, use tax, value-added tax, payroll tax, returns, and exemptions. OCI’s built-in security, high availability, and superior price-performance help Vertex customers around the world automate their transactions and stay compliant without having to worry about capacity constraints.
As one of the first tax technology providers to offer validated integrations for Oracle solutions available on OCI, Vertex customers are reaping the rewards. Faster tax calculations mean faster business applications for Vertex customers, helping Vertex to further extend its leadership and value to customers.
The combined benefits of Vertex indirect tax solutions integrated with and powered by Oracle Cloud have led to a significant increase in adoption by joint customers. In the first seven months of implementation, customers processed an average of more than 150 million transactions per month, or a total of more than one billion transactions, leveraging Vertex tax solutions on OCI. These numbers are growing rapidly as more customers are trusting Vertex and Oracle to deliver the solutions they need to transform finance operations and support business growth.
A typical customer has 100,000 transactions a day globally, half of which require VAT compliance calculations involving millions of tax rules and rates. Since those transactions often span sales channels—digital, brick and mortar, and so on—the ability to quickly and consistently process accurate tax calculations and transactions not only affects compliance but also business performance. OCI’s powerful compute services help Vertex resolve each transaction in milliseconds, creating a better user experience. Joint global customers using Vertex indirect tax solutions integrated with their Oracle applications have seen a 35% performance boost on OCI.
Joint customers benefit from flexible deployment options, choosing whether to run their applications in Oracle’s global public cloud regions or using Oracle Cloud@Customer within their own data centers. Vertex currently uses OCI’s North America cloud regions and is working to expand internationally to Germany to support its customers in the European Union.
Our joint customers need flexibility to respond to business, tax, and technology changes quickly and stay ahead of the competition. With Vertex indirect tax solutions for Oracle running on OCI, companies can be more efficient and agile, scaling to meet whatever challenges or opportunities arise, while reducing the burden on tax and IT teams.
Director, Global Oracle-NetSuite Partnership, Vertex