Vertex Introduces Tax Data Validation Solution

Vertex, Inc., a global provider of tax technology solutions, has introduced Vertex Cloud Data Integrity, a cloud-based, tax-specific solution that automates the data validation, analysis and transformation steps that increase data quality. The application enables companies to improve tax return data, reduce audit risk, as well as increase tax staff efficiency and readiness for compliance.

Recent studies report tax teams spend up to 70% of their time gathering and preparing data for reporting and audit. “As the global tax landscape increases in complexity, the demand for advanced data functionality from multinational enterprises continues to rise. Today’s tax department is one of the largest consumers of data in the enterprise,” said Vertex Chief Tax Strategy Officer Michael Davis. “As tax data touches almost every key business application, tax teams need purpose-built tools like this to drive greater efficiency and tackle higher-value activities like planning and strategic decision making.”

As a standalone offering or integrated with Vertex solutions, Data Integrity delivers a simple, taxcentric user interface and rule-based system that reduces overpayments with U.S. sales and use tax, increases reimbursements for value added tax (VAT), and creates an audit trail for data repairs.