Sales Tax
Vertex Introduces New Value Added Tax Solution for Businesses Using SAP Technologies
This unique product is a complement to the Vertex Indirect Tax Accelerator for SAP ERP introduced five years ago that has provided a platform for hundreds of users of SAP technologies delivering additional capabilities and tax functionality.
Dec. 20, 2020
The tax technology and services Vertex, Inc. has launched the new Vertex Indirect Tax Chain Flow Accelerator for SAP ERP, an integrated capability for chain flow data mapping to a Vertex tax engine. This solution reduces reliance on IT support for the extensive data mapping involved with configuring complex supply chains and improves value-added tax (VAT) determination accuracy.
This unique product is a complement to the Vertex Indirect Tax Accelerator for SAP ERP introduced five years ago that has provided a platform for hundreds of users of SAP technologies delivering additional capabilities and tax functionality. Specifically designed for use in conjunction with the Vertex Tax Service that calculates sales, consumer use and value-added taxes automatically during the invoice or checkout process, the Chain Flow Accelerator is implemented in SAP ERP or SAP S/4HANA®. The solution enables tax professionals to connect data and documents in a chain flow transaction and process that data for consistent VAT treatment across the transaction. The product was designed specifically for chain flow data mapping, providing functionality that companies have previously needed to develop as a custom solution inside SAP systems, requiring the help of IT to use and maintain. The Chain Flow Accelerator makes it easy for the VAT user to manage data mapping for chain flow transactions with minimal support from IT.
The Vertex Chain Flow Accelerator was designed to improve tax accuracy in the Vertex tax engine for companies doing business across borders in Europe with supply chains that span multiple countries. The first customer to license the product is a multinational company headquartered in Germany from the food and beverage industry, maintains a complex cross-border supply chain in Europe and wants to improve VAT management and accuracy.
“The combination of major changes to the VAT directive and the migration from SAP ECC to SAP S/4HANA provides organizations using SAP technology with a once in a generation opportunity to transform their VAT processes,” said Paul Guyer, general manager, Europe at Vertex. “As a trusted and leading provider of tax technology solutions and longtime SAP partner, we’re proud to arm businesses with the Vertex Indirect Tax Chain Flow Accelerator for SAP ERP to reduce risk while improving visibility and accuracy for companies with cross-border supply chains.”
Companies can easily discover and purchase Vertex Tax Service on SAP App Center, the digital marketplace for SAP partner offerings. The SAP App Center, provides businesses with approximately 1,600 innovative partner solutions that integrate with and extend SAP solutions. There, customers can find, try and buy the SAP-validated partner apps they need in order to grow their business. And for each purchase made on SAP App Center, SAP will plant a tree. Find, try, and buy SAP partner solutions digitally at www.sapappcenter.com.