The tax landscape is changing faster than ever before, and many Oracle users are struggling to keep pace. Shifting and expanding compliance requirements necessitate innovative solutions that reduce manual work and improve scalability.
Typically, companies are unable to meet these requirements on their own, so they look to trusted partners to help. Many of them are turning to Vertex, due in no small part to its longstanding relationship with Oracle.
Vertex and Oracle: Better Together
Vertex is a recognized member of the Oracle Partner Network (OPN) as an Oracle Build Partner, having achieved both “Powered by” and “Integrated with Oracle Cloud” statuses. This deep integration ensures that customers benefit from automated tax technology and integrated solutions that streamline tax determination and compliance across critical business functions within the enterprise and globally.
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The partnership between Vertex and Oracle spans over 30 years. This established collaboration aims to accelerate transformation, drive innovation, and deliver better business outcomes for their shared customers. Oracle isn’t just a partner; they also utilize Vertex Accelerator for Oracle Cloud ERP for their own global business requirements.
The primary focus of the Vertex and Oracle partnership is to innovate finance, improve the tax function, and support business growth. This collaboration provides several powerful benefits for customers, including increased global tax and IT efficiency, reduced audit risk, streamlined tax and IT operations, and improved business scalability.
Vertex offers global indirect tax solutions across the Oracle ecosystem, supporting various Oracle platforms such as Oracle Cloud ERP, Oracle eBS, JD Edwards EnterpriseOne, and Oracle Retail. For Oracle Cloud ERP users, Vertex provides powerful, automated tax determination through a seamless push button integration that allows for faster time to value and allowing complex taxability logic for precise tax calculation on every transaction.
Benefits of Adoption
Integrating a Vertex tax engine with Oracle applications allows users to automate manual tasks like managing global tax changes and updating tax content across all Oracle applications, saving valuable time for tax and IT teams. By adding a single Vertex tax engine integrated across all Oracle applications, users can leverage continually updated tax content for improved accuracy. Immediate benefits include eliminated manual processes, improved tax data governance, reduced audit risk, a consolidated tax experience, improved scalability, and reduced cost.
Vertex enhances Oracle’s native tax calculation by providing greater efficiency through continually updated tax content within the Vertex engine, centralizing and standardizing tax decisions in one place, and offering robust tax content supported by over 1 billion data-driven tax rules and a global research team. The Vertex tax engine offers extensive tax content and features to centralize and automate tax determination for even the most intricate transactions across numerous jurisdictions globally.
Also, for Oracle E-Business Suite, Vertex automates tax determination with the invoice-to-cash process, offering comparable features and benefits, including support for multiple origin addresses. The partnership is further strengthened by regular meetings between Oracle and Vertex contingents to ensure collaborative development and support.
What This Means for ERP Insiders
Tax functions must be streamlined to be effective. Oracle organizations are constantly inundated with updates to tax rates across thousands of jurisdictions. Vertex automates tax determination on every transaction in real time within Oracle Cloud ERP, providing regularly updated sales and seller’s use tax content for O2C transactions, US and Canada tax content, and VAT sales calculations for EMEA and APAC. It also supports the calculation of tax on sales, lease, and rental transactions. It includes address validation and cleansing for more precise tax calculations and provides tax details by jurisdiction.
Automation is essential for timely and effective tax workflows. Inefficient manual tax processes can quickly add up, costing companies significant time that they could be using on other essential workflows. Leading organizations are increasingly reaching out to partners like Vertex that can equip them with automated solutions to streamline important tasks like researching tax changes and updating tax content across all Oracle applications.
Trust experience to overcome a changing tax landscape. With all the recent changes across the tax landscape, companies are more concerned about their audit risk than ever before. Businesses need to work with partners to ensure they remain on top of these changes. Oracle and Vertex have worked together for over three decades to ensure that users have access to the latest solutions to remain compliant. Vertex offers tax compliance options including periodic reporting, exemption certificate management tools, e-invoicing, and compliant digital invoice generation tools.
