What
is SAP-VERTEX or VISTEX?
Vertex is Tax calculation software. You
can find more details by accessing the link:
How it is integrated with SAP?
Vertex is Third Party software.
There are two ways to connect to Vertex:
1) What we have used in recent
implementation: Using PI
2) Establishing RFC connection between Vertex and SAP.
What is its use? & any SPRO settings required for
using this S/W?
Vertex's scalable tax technology can
help ease the direct and indirect tax compliance for large organizations. You
have tax relevant information in Customer Master Data, Vendor Master Data: this
information is used while processing Sales Orders or Purchase Orders. By using
Vertex we can simplify the tax calculations and also it takes care of Tax
Jurisdiction codes.
SPRO settings required: RFC connection
establishment by creating Logical system
SD pertaining settings for Customer Master
Tax Settings.
Vertex offers the industry's most comprehensive,
integrated suite of Corporate Tax solutions—including the groundbreaking Vertex
Enterprise tax management platform, a suite of technology and consulting
services for automating the management of indirect and direct taxes. Every
Vertex offering is designed to promote not only the efficiency but also the
strategic impact of the Corporate Tax department.
Vertex Enterprise
Vertex Enterprise is a single-platform solution for managing all tax types—around the world and throughout the tax lifecycle. Ideal for global corporations with multiple entities and financial systems, Vertex Enterprise serves as a single data source for global tax provision, tax compliance, audit and reporting. By automating calculations, it accelerates the financial close process. And through data and process standardization, it helps reduce risk and improve efficiency.
Tax Data Management
The Vertex Tax Data Warehouse brings all financial data from general ledger systems around the world—including cost centers, sub-ledgers, journal entries, and transactions—into a single repository that's formatted specifically for your tax solution needs. It lets you automate most calculations, eliminating the need for time-consuming manual spreadsheets. And it allows you to store all tax data for all open tax years in one place that's auditable and secure.
Provision & Compliance
Vertex Tax Accounting is a multi-ledger, multi-GAAP, multi-currency, and multi-year solution that helps reduce risk while improving the speed, control, and accuracy of provision-related processes. It's the first provision solution that ties directly back to your ERP's general ledger.
Audit Support
Eliminate the endless requests from taxing authorities around the world—all seeking help to align your general ledger systems to your work papers. With Vertex Enterprise, it's all connected.
Modeling and Tax Planning
Vertex Enterprise delivers the detailed data you need for sophisticated modeling. Test a tax strategy that involves shifting revenues and assets among foreign subsidiaries to determine potential savings. Or explore how the acquisition of a new business would affect overall tax liabilities. Such capabilities can help you deliver substantial bottom-line results—while raising the profile of the tax function within your organization.
Indirect Tax Solutions
Vertex was the first to apply software technology to manage transaction tax. Today we're the industry leader in helping tax departments simplify and automate the complexity of calculating, collecting, and reporting on sales, consumer use, and retail taxes, as well as VAT, GST, and other indirect tax types. And we offer a full range of indirect tax software products and services—all backed by more than 30 years of indirect and transaction tax and technology expertise plus strong relationships with Oracle, SAP and other leading ERP software providers.
Sales Tax
Transaction tax rates and rules are complex and ever changing—creating ongoing operational and compliance challenges for corporate tax departments. Vertex is the leader in applying technology to simplify and automate all aspects of this business process. Our sales tax management software gives your organization powerful tools for sales tax calculation, reporting, analysis, and compliance.
Consumer Use Tax
As states target consumer use tax as a source of much-needed revenue, organizations need a more consistent and effective way to manage this tax type. Vertex software enables you to centralize and automate management—so you can accurately calculate and pay consumer use tax across your enterprise.
Value Added Tax
Organizations that operate around the globe face significant work and costs associated with maintaining rates, rules, and logic for value added tax (VAT), goods and services tax (GST), and other international indirect taxes. Since most ERP systems go no further than accounting for global tax rates, tax departments need a more advanced solution for determining taxability and then calculating, collecting, and reporting on VAT, GST, and other transaction taxes.
Retail Industry
Retailers must manage increasingly complex state and local sales tax regulations. As high-transaction businesses, you may be more vulnerable to audit. And you face ongoing compliance challenges as you grow and expand through mergers and acquisitions and evolve your eCommerce presence. Vertex offers the gold standard in tax management solutions designed specifically for retailers. By enabling centralized and automated management of tax transactions across sales channels, Vertex solutions help ensure that taxation is uniform, accurate, and compliant.
Hospitality Industry
For hospitality companies operating online and in multiple jurisdictions, calculating taxes is extremely complex. It’s a challenge for hotels, restaurants and other traditional brick-and-mortar businesses, as well as online companies like travel marketplaces.
With Vertex software and services, hospitality companies can centralize tax calculation—staying on top of rates and rules, calculating taxes across jurisdictions, and managing state and local returns.
Leasing Industry
When it comes to tax management, companies with leasing and rental operations face a distinct set of compliance and regulatory challenges. Vertex solutions help tax professionals take control of the complexity, so you can support corporate tax objectives while addressing Sarbanes-Oxley and other compliance requirements.
Communications Industry
Communications providers count on Vertex to help in managing tax and compliance processes. Vertex solutions manage tax rates and rules, calculate taxes across jurisdictions, and integrate with major billing systems. Our tax data and decision logic help communications companies more effectively manage taxability across business services. And because of their inherent scalability and flexibility, Vertex solutions represent a solid foundation for accommodating future growth and change.
Returns Automation
With hundreds of forms, thousands of tax rates, tens of thousands of jurisdictions, and continual changes that affect your business, preparing and filing sales and consumer use tax returns is complicated. Managing this business process with a manual approach is incredibly time consuming, inefficient, and prone to error. By automating sales and use tax preparation and filing, Vertex software helps your tax department improve accuracy, efficiency, and audit performance.
Exemption Certificate Manager
Vertex Exemption Certificate Manager (ECM) provides tax departments with an affordable and effective solution for reducing or eliminating time-consuming manual work of filling and managing exemption certificates. By supporting fast retrieval of any exemption, resale, or direct pay certificate stored in your system, the tool also helps you dramatically reduce, or even eliminate, the stiff penalties that can result from failing to produce valid certificates during an audit.
Indirect Tax Reporting & Analysis
Your organization's transaction and taxability data offers a wealth of insights into tax, compliance, and business performance. With Vertex reporting and analysis software, you can tap into those insights with functionality you would expect from a much more expensive business intelligence tool. By diving into data, your tax department can increase efficiency, enhance audit performance, and deliver greater strategic value to the business.
Income Tax Solutions
Vertex offers income tax solutions that automate and streamline tax management across all phases of the tax lifecycle. From Vertex Enterprise—which revolutionizes provisioning and tax data management—to tools for enhancing the way you track due dates and manage documents, Vertex solutions help you operate with greater speed, accuracy, and efficiency. So you can optimize the benefits of globalization and deliver greater strategic value to your organization.
Tax Accounting
Vertex Tax Accounting is a sophisticated global provision solution and strong foundation for effective tax planning. This breakthrough technology is the first tax accounting and provision solution designed and built to handle the volume, complexity, and speed required by today's global tax department.
Tax Data Warehouse
The Vertex Tax Data Warehouse is the powerful foundation of Vertex Enterprise, providing a single source of data for all income tax features and functions. The first commercially available data warehouse specifically designed for income tax, the Vertex Tax Data Warehouse provides scalability to streamline and standardize the management of data for tax on a global basis.
Data & Workflow Management
In conjunction with Vertex Provision and Vertex Income Tax compliance applications, Vertex Data and Workflow Management tools help tax departments better manage the data, documents, and workload required for global tax performance and risk management.
Compliance - Domestic
Create time for income tax planning by streamlining your income tax processes. Vertex Income Tax Domestic helps you improve data flow, quickly substantiate tax positions, and record data in a format that meets your tax department's needs.
Compliance - International
Vertex Income Tax International helps global tax department simplify the complexities of filing for foreign entities. Use it to address key challenges around reporting tax information across different time zones and taxing systems—while ensuring tax data accuracy despite changing entity structures.
Tax Calendar
Use Vertex Tax Calendar to stay informed and help control the income tax filing process. By streamlining and automating management of filing due dates across jurisdictions, entities, and tax types, it helps you effortlessly manage tax payments, filing extensions, returns, and other important dates.
Income Tax Reporting & Analysis
Transform raw income tax data into insightful reports—while safeguarding data integrity—with Vertex Income Tax Reporting & Analysis. This flexible, easy-to-use reporting solution quickly and simply generates ready-made or custom reports for audit, planning, and management decision-making.
Payroll Tax
For tax departments, calculating local, state, and federal payroll taxes is complicated but critical. Use Vertex payroll tax software to take control of the complexity and meet employees' expectations for consistently accurate and reliable paychecks.
Source: Indirect Tax Solutions
Source: Income Tax Solutions
Source: SAP-VERTEX
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