Vertex Achieves Certified Integration with the Mirakl Marketplace Platform
18 Dezember 2023 - 2:00PM
Vertex Achieves Certified Integration with the Mirakl Marketplace
Platform
Vertex, Inc. (NASDAQ:VERX) ("Vertex" or the "Company"), a global
provider of tax technology solutions, and Mirakl, the global leader
in platform business innovation, announced today the certified
integration of Vertex® O Series® and the Mirakl Marketplace
Platform. The solution seamlessly integrates with Mirakl’s
platform, automating the update of tax rates and rules, as well as
determination and calculation of sales, seller use and value-added
tax (VAT) on marketplace transactions.
The benefits of the certified integration
include accuracy and consistency enhancements for tax determination
and calculation for every line-item of each transaction, further
reducing the compliance risk for marketplace operators and sellers.
Through the integration, businesses operating online platforms
powered by Mirakl are able to fully leverage Vertex's
industry-leading, end-to-end global tax and compliance
technology.
According to Gartner research, by 2025 80% of
B2B sales interactions between suppliers and buyers will occur in
digital channels. With this growth comes the challenge for
marketplace operators and sellers worldwide to understand and
comply with diverse tax and compliance regulations with each sale.
Variables impacting tax complexity include item origin and
destination, liability assessment, applicable tax rates and rules
and determined responsibility for collecting and remitting taxes
for specific items in an order.
"With the volume and complexity of tax and
compliance requirements for marketplace facilitators continuing to
grow globally, the ability to streamline tax determination and
remove friction for marketplace operators and their sellers is
key," said Chris Jones, Chief Commercial Officer at Vertex. “This
certification provides customers the comfort of knowing that
regardless of what transaction systems they leverage now or in the
future, Vertex solutions will strive to meet their evolving needs –
adapting to provide consistent performance.”
"Expanding a marketplace business into a new
market brings an untapped audience of buyers and increased revenue
– but it also introduces new complexities in tax compliance,” said
Andy Barker, Executive Vice President, Financial Services, Mirakl.
“With Mirakl and Vertex, taxes don’t have to be a barrier to
platform growth. Now, enterprises can use Vertex’s certified
integration to streamline tax compliance and seamlessly operate
their Mirakl-powered platforms, so that they can focus on what
matters: delivering more value to customers.”
Vertex’s integration has been tested and
validated to meet Mirakl’s strict standard for security and
performance, giving customers confidence it will operate as
expected when integrated with the Mirakl Marketplace Platform.
To learn more about the Vertex and Mirakl
partnership, click here.
About Vertex
Vertex is a leading global provider of indirect
tax software and solutions. The company's mission is to deliver the
most trusted tax technology enabling global businesses to transact,
comply and grow with confidence. Vertex provides solutions that can
be tailored to specific industries for major lines of indirect tax,
including sales and consumer use, value added and payroll.
Headquartered in North America, and with offices in South America
and Europe, Vertex employs over 1,400 professionals and serves
companies across the globe.
For more information, visit www.vertexinc.com or
follow us on Twitter and LinkedIn.
About Mirakl
Mirakl is the global leader in platform business
innovation. Mirakl's suite of solutions provides enterprises with a
transformative way to drive significant growth and efficiency in
their online business. Since 2012, Mirakl has been pioneering the
platform economy, empowering retail and b2b enterprises with the
most advanced, secure and scalable technology to digitize and
expand product assortment through marketplace and dropship, improve
efficiency in supplier catalog management and payments, personalize
shopping experiences, and boost profits through retail media.
Mirakl is trusted by 400+ industry-leading businesses worldwide
including Macy’s, Decathlon, Kroger, Airbus, Toyota Material
Handling, Sonepar and Yves Rocher. For more
information: www.mirakl.com
Copyright © 2023 Vertex, Inc. All rights
reserved. The information contained herein is intended for
information purposes only, may change at any time in the future,
and is not legal or tax advice. The product direction and potential
roadmap information is not a guarantee, may not be incorporated
into any contract, and is not a commitment to deliver any material,
code, or functionality. This information should not be relied upon
in making purchasing, legal, or tax decisions. The development,
release, and timing of any features or functionality described for
Vertex's products remains at the sole discretion of Vertex, Inc.
Any statements in this release that are not historical facts are
forward-looking statements as defined in the U.S. Private
Securities Litigation Reform Act of 1995. All forward-looking
statements are subject to various risks and uncertainties described
in Vertex's filings with the U.S. Securities and Exchange
Commission ("SEC") that could cause actual results to differ
materially from expectations. Vertex cautions readers not to place
undue reliance on these forward-looking statements which Vertex has
no obligation to update.
Company contact:
Rachel LitcofskyVertex, Inc.
mediainquiries@vertexinc.com
Investor Relations contact:Joe
CrivelliVertex, Inc.ir@vertexinc.com
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