Vertex Advances Tax Technology Innovation at Exchange 2024
Rhea-AI Summary
Vertex (NASDAQ:VERX) hosted its annual Vertex Exchange conference in New Orleans, showcasing new tax technology innovations and AI capabilities. The company unveiled its generative AI-powered Copilot, a cloud platform feature designed to streamline access to insights and enhance tax process efficiency. The conference achieved record attendance, bringing together industry leaders and tax professionals.
The event featured discussions on e-invoicing regulatory challenges with ecosio CEO Christoph Ebm, presented the 2024 Partner Awards, and offered sessions focusing on compliance complexities and operational efficiency. Under the theme 'Big Ideas in the Big Easy,' the conference emphasized Vertex's commitment to advancing tax technology solutions and supporting global compliance needs.
Positive
- Launch of new AI-powered Copilot platform enhancing tax process efficiency
- Record attendance at annual conference indicating strong market presence
- Strategic partnership expansion through Partner Awards program
Negative
- None.
Insights
The launch of Vertex's AI-powered Copilot represents a significant technological advancement in tax compliance software, but its immediate revenue impact remains uncertain. While the integration of generative AI capabilities could streamline tax processes and potentially increase operational efficiency for clients, the announcement lacks specific metrics about expected performance improvements or pricing strategy.
The platform's focus on real-time guidance and workflow optimization aligns with industry trends toward automation and intelligent assistance in complex tax operations. The emphasis on e-invoicing capabilities through the ecosio partnership also positions Vertex strategically in the growing digital tax compliance market, particularly as global regulations become more stringent.
However, this conference announcement primarily showcases future capabilities rather than concrete financial or operational achievements. Without clear monetization details or adoption metrics, the immediate market impact may be despite the long-term strategic value.
Premier Tax and Technology Conference Connects Industry Leaders, Showcases AI Capabilities
KING OF PRUSSIA, Pa., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, released new innovations, honored partners and fostered big ideas in the world of tax technology at its annual Vertex Exchange conference in New Orleans, Louisiana. Bringing together a record number of attendees – industry leaders, tax professionals, and technology innovators focused on the future of tax compliance while exploring the latest intelligent solutions to overcome the challenges of today’s evolving business obligations.
Demonstrating its commitment to innovation, Vertex continues to enhance its offerings with advanced AI capabilities to meet the complex demands of modern business. Notably, Vertex unveiled its generative AI-powered Copilot, a next-gen capability on the cloud platform to streamline access to insights and elevate the efficiency of the tax process. Vertex Copilot provides continuous access to comprehensive product knowledge and support, featuring an interface designed to optimize workflows by delivering real-time guidance for processes tailored to individual requirements. Adding Copilot to the Vertex global platform for end-to-end indirect tax, with its underpinning of seamless data transparency and control, will provide customers with unparalleled capabilities as their businesses grow and continue to modernize their infrastructures.
“Vertex Exchange is more than an event; it’s a crucial platform for nurturing connections that drive success in the evolving tax landscape,” said Vertex CEO David DeStefano. “Our collaboration with customers and partners enables us to address tax compliance and reporting challenges while exploring innovative technologies. Together, we are transforming how tax functions deliver value, ensuring our solutions meet the real-world demands our customers face.”
Attendees had the opportunity to hear from ecosio CEO Christoph Ebm during a discussion with DeStefano. The two explored the e-invoicing regulatory challenges companies face today and highlighted the differentiating value the Vertex solution brings to customers.
The event featured the 2024 Partner Awards, recognizing exemplary contributions and collaborative achievements within the Vertex community that drive innovation in tax solutions. This year’s awards highlighted the critical role of partnerships in advancing the tax technology landscape, with recognition given for excellence in areas such as collaboration, innovation, and technology leadership.
Under the theme “Big Ideas in the Big Easy,” the conference agenda covered a comprehensive array of sessions and roundtables focused on key themes such as compliance complexities, operational efficiency and integrating emerging technologies into tax functions. Participants also gained insight into Vertex’s dedication to providing industry-leading customer support through certification and continued learning opportunities onsite, exemplified by its HDI certification received earlier in the year.
As the tax compliance landscape becomes increasingly complex, Vertex remains committed to driving innovation and supporting its customers and partners as they navigate the challenges of global compliance with confidence. The success of Vertex Exchange exemplifies the critical importance of collaboration and knowledge-sharing in propelling the tax technology industry forward.
To learn more about Vertex solutions, 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.
Copyright © 2024 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. Any 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 US 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 and which speak only as of their dates.
Vertex Company Contact:
Rachel Litcofsky
Vertex, Inc.
mediainquiries@vertexinc.com
Investor Relations Contact:
Joe Crivelli
Vertex, Inc.
ir@vertexinc.com
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