Vertex and SAP have unveiled Vertex Tax Service, an embedded, on-demand tax calculation engine scaled for small and mid-sized businesses.
Vertex Tax Service is exclusively embedded into SAP Business ByDesign, a suite of on-demand business providing small and mid-sized businesses (SMBs) with consistent, accurate US sales and use tax calculations on every sales and purchase transaction they conduct, said Vertex.
The functionality of this offering reportedly helps enhance SMB tax compliance by eliminating the errors that arise from manual tax calculations. In addition, it is reported that the automatic updates to sales and use tax rates and rules for many tax jurisdictions will help reduce the risk of audit penalties and help SMBs recoup valuable lost business time and resources. This offering is available online, through SAP Business ByDesign. There are no servers or software to install, and no PC hardware upgrades or maintenance required, added Vertex.
Jack Ferraioli, vice president of customer relationship development at Vertex, said: Vertex and SAP are making taxes less taxing for SMBs. SAP’s on-demand platform now has an enterprise-class US sales and use tax solution that SMBs everywhere can easily use.
Christoph Behrendt, senior vice president for SMB at SAP, said: SMBs don’t have the time or resources to efficiently deal with myriad US state tax regulations, until today. We knew that tax management software would be a crucial element that separates SAP Business ByDesign from other solutions in the marketplace. With Vertex Tax Service, our customers get, on demand, the industry’s most respected tax management platform seamlessly integrated with SAP Business ByDesign. No other solution comes close.