Vertex Launches Vertex for Salesforce Revenue Cloud

Rhea-AI Summary

Vertex, Inc. (NASDAQ:VERX) has launched Vertex for Salesforce Revenue Cloud, integrating Vertex's tax determination expertise with Salesforce's platform to streamline revenue processes. This unified system combines commercial compliance with revenue and CRM, enabling easier product launches and improved customer satisfaction through automated commercial complexity and accurate tax determination.

Key features include easy configuration mapping, transaction logging/dashboard, content updates, and automated tax determination. Benefits range from predictable costs to available onboarding support. The collaboration aims to enhance tax accuracy, visibility, and transparency, ultimately improving revenue processes and customer trust.

Positive

• Launch of Vertex for Salesforce Revenue Cloud integration
• Potential for improved customer satisfaction and trust through automated tax processes
• Enhanced tax accuracy, visibility, and transparency in revenue processes
• Easy configuration mapping and automated tax determination features

Negative

• None.

Insights

Financial Analyst

Vertex's launch of Vertex for Salesforce Revenue Cloud represents a strategic move to capitalize on the growing B2B digital commerce market. With Gartner projecting a 20% uplift in total revenue for organizations offering unified commerce experiences by 2025, this integration positions Vertex favorably. The collaboration with Salesforce, a leader in CRM, could potentially expand Vertex's market reach and increase its revenue streams. However, the financial impact remains uncertain without specific revenue projections or pricing details. Investors should monitor future earnings reports for evidence of increased adoption and revenue growth resulting from this partnership.

Tech Expert

The integration of Vertex O Series with Salesforce Revenue Cloud is a significant technological advancement in the tax technology sector. By automating tax processes and ensuring real-time regulatory compliance, this solution addresses a critical pain point for businesses engaged in complex B2B transactions. The emphasis on easy configuration mapping and automated tax determination suggests a user-friendly interface that could drive adoption. From a technical standpoint, the integration's ability to handle commercial complexity while maintaining system security is impressive. This could give Vertex a competitive edge in the rapidly evolving digital commerce landscape, potentially leading to increased market share and customer retention.

Market Research Analyst

The launch of Vertex for Salesforce Revenue Cloud aligns with the broader trend of digital transformation in B2B commerce. As businesses seek unified commerce experiences, solutions that streamline revenue processes and ensure tax compliance become increasingly valuable. The partnership with Salesforce, a dominant player in the CRM space, gives Vertex access to a vast customer base. However, the success of this integration will depend on its ability to deliver tangible benefits such as improved customer satisfaction and operational efficiency. While the potential market is significant, Vertex will face competition from other tax solution providers. Investors should watch for adoption rates and customer feedback to gauge the long-term impact on Vertex's market position and growth prospects.

KING OF PRUSSIA, Pa., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, today announced the launch of Vertex for Salesforce Revenue Cloud. This integration brings together Vertex’s expertise in tax determination and Salesforce’s powerful platform to streamline revenue processes for businesses.

According to Gartner^®, “growth in B2B digital commerce continues to outpace growth in B2C digital commerce… By 2025, organizations offering a unified commerce experience by frictionlessly moving customers through journeys will see at least a 20% uplift in total revenue.”¹ Vertex for Salesforce Revenue Cloud provides a unified system that combines commercial compliance with revenue and customer relationship management (CRM), enabling companies to launch products with ease. By automating commercial complexity and providing accurate tax determination, the connector can help improve overall customer satisfaction.

“Through our collaboration with Salesforce, we are delivering exceptional customer experiences and robust system security, enabling businesses to seamlessly manage tax accuracy,” said Bradd Wildstein, Vice President, Indirect Sales at Vertex, Inc. “Together, we are improving revenue processes by leveraging advanced technologies to enhance tax accuracy, visibility and transparency – enhancing customer satisfaction and trust.”

Vertex O Series integrates with Salesforce Revenue Cloud, helping to ensure regulatory compliance and real-time insights for businesses. Key features such as easy configuration mapping, transaction logging/dashboard, content updates and automated tax determination with customer benefits ranging from predictable costs to available onboarding support.

“The Vertex integration enhances our commitment to providing a comprehensive revenue solution,” said Meredith Schmidt, EVP and GM of Revenue Cloud, Salesforce. “By automating tax processes, we’re enabling our customers to focus on growth and customer experience.”

Click here to learn more about Vertex for Salesforce Revenue Cloud. For additional information on the Vertex and Salesforce collaboration, visit our partner page.

Salesforce, Revenue Cloud, and others are among the trademarks of Salesforce, inc.

¹ Gartner, Magic Quadrant for Digital Commerce, August 2023. GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

About Vertex

Vertex, Inc. is a leading global provider of indirect tax 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. 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.

Vertex Company Contact:
Rachel Litcofsky 
Vertex, Inc.
mediainquiries@Vertexinc.com

Investor Relations Contact:
Joe Crivelli
Vertex, Inc.
ir@vertexinc.com

FAQ

What is Vertex for Salesforce Revenue Cloud?

Vertex for Salesforce Revenue Cloud is an integration that combines Vertex's tax determination expertise with Salesforce's platform to streamline revenue processes for businesses. It provides a unified system for commercial compliance, revenue management, and CRM.

How does Vertex for Salesforce Revenue Cloud benefit businesses?

The integration helps businesses launch products more easily, improves customer satisfaction through automated commercial complexity and accurate tax determination, and enhances tax accuracy, visibility, and transparency in revenue processes.

What are the key features of Vertex for Salesforce Revenue Cloud?

Key features include easy configuration mapping, transaction logging/dashboard, content updates, and automated tax determination. It also offers benefits such as predictable costs and available onboarding support.

When did Vertex (VERX) announce the launch of Vertex for Salesforce Revenue Cloud?

Vertex, Inc. (NASDAQ:VERX) announced the launch of Vertex for Salesforce Revenue Cloud on September 17, 2024.