Vertex Inc. (NASDAQ: VERX) has seen enhanced customer adoption of the Oracle Cloud Infrastructure over the past 12 months according to Oracle. The joint customers globally using Vertex Indirect Tax O Series offerings connected with Oracle applications have witnessed 35% performance boost in OCU compared to other settings.
Customers can process over 150 million transactions
The company is among the first tax tech partners that offer certified connections for Oracle products available on OCI and the rate of adoption among clients keeps increasing. So far, customers have managed to process over 150 million transactions monthly for over a billion transactions leveraging Vertex tax offerings on OCI in 2021.
A typical consumer does 100,000 international transactions per day, half of which necessitate VAT compliance computations including 20 million tax regulations. Because those transactions frequently cross sales channels, the ability to process accurate tax calculations and transactions promptly and consistently has an influence not just on compliance, but also on business performance. Vertex employs OCI’s strong compute services to resolve each transaction in milliseconds, resulting in a constantly superior user experience. Notably Vertex makes use of OCI’s North America Cloud Regions and is looking to expand to Germany.
Vertex CEO David DeStefano said, “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 provides a preferred option for our joint customers, providing the performance, scalability and security they need to help accelerate global commerce.”
Vertex has been Oracle’s partner for 25 years
Oracle ISV Ecosystem, SVP Dave Profozich commented, “Vertex has been one of our trusted partners for more than 25 years, providing automated tax determination that has enabled our joint customers to modernize their finance and accounting processes and grow their businesses more rapidly. The findings speak for themselves and demonstrate that Vertex’s tax solutions running on OCI have helped our joint global customers improve their ROI from the digital transformation of back-office operations.”
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