Vertex Named a Leader in the 2024 IDC MarketScape for Worldwide SaaS and Cloud-Enabled Tax Automation Software for Enterprise, SMB and VAT

Rhea-AI Summary

Vertex (NASDAQ:VERX) has been recognized as a Leader in three IDC MarketScape reports for 2024, covering tax automation software across enterprise, SMB, and VAT segments. The recognition encompasses SaaS and cloud-enabled solutions for sales and use tax automation, as well as value-added tax management applications.

This achievement builds upon previous leadership recognitions from IDC MarketScape in 2021 and 2019. According to IDC's Senior Director Kevin Permenter, Vertex distinguishes itself through deep expertise in enterprise-level tax software, offering industry-leading content and real-time reporting capabilities.

The company's CEO David DeStefano emphasized their mission to empower businesses with leading tax technology and simplify compliance in an increasingly complex tax environment.

Positive

• Named Leader in three distinct IDC MarketScape categories for 2024
• Consistent leadership recognition from 2019 through 2024 demonstrates sustained market position
• Validated expertise in enterprise-level tax software solutions

Negative

• None.

KING OF PRUSSIA, Pa., Dec. 16, 2024 (GLOBE NEWSWIRE) -- Vertex, Inc. (NASDAQ:VERX) (“Vertex” or the “Company”), a global provider of tax technology solutions, has been named a Leader in three IDC MarketScape reports:

• IDC MarketScape: Worldwide SaaS and Cloud-Enabled SaaS Sales and Use Tax Automation Software for Enterprise 2024 Vendor Assessment (doc #US52035324, December 2024)
• IDC MarketScape: Worldwide Value-Added Tax Management Applications 2024 Vendor Assessment (doc #US52732824, December 2024)
• IDC MarketScape: Worldwide SaaS and Cloud-Enabled SaaS Sales and Use Tax Automation Software for Small and Midmarket 2024 Vendor Assessment (doc #US52732724, December 2024)
  

“We are honored to be named a Leader in multiple segments of the IDC MarketScape for SaaS and Cloud-Enabled Tax Automation Software. It further validates the importance of our mission to empower businesses with leading tax technology,” said Vertex CEO David DeStefano. “This recognition highlights the continuing growth of our portfolio and capabilities as we simplify compliance and address the evolving needs of diverse businesses in an increasingly complex tax environment.” 

Vertex remains steadfast in its commitment to enabling compliance, optimizing tax processes and helping businesses navigate the challenges of a dynamic global economy. With decades of experience, Vertex delivers innovative tax technology designed to support complex operations across industries, helping ensure accurate tax determination, and seamlessly integrating with evolving business models.

Previous recognitions of the Company being named to the Leaders Category include:

• IDC MarketScape: SaaS and Cloud-Enabled Sales and Use Tax Automation Software for Enterprise 2021 Vendor Assessment (doc #US47987421, October 2021)
• IDC MarketScape: Worldwide SaaS and Cloud Value-Added Tax Software 2021 Vendor Assessment (doc #US47987321, October 2021)
• IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sales Tax and VAT Automation Applications 2019 Vendor Assessment (doc #US43263718, January 2019)
  

“For growing businesses facing global tax complexities, investing in intelligent, automated, end-to-end tax management tools is essential,” said Kevin Permenter, Senior Director, Enterprise Applications Research at IDC. “Vertex leverages deep expertise in enterprise-level tax software, offering industry-leading content, real-time reporting capabilities and a customer-focused approach to help navigate and adapt to the evolving landscape of global commerce.”

Click here to learn how Vertex’s scalable tax automation solutions simplify compliance and support global growth.

About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of technology and service suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

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 1,500 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 
Manager, Public Relations 
mediainquiries@vertexinc.com

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

FAQ

What IDC MarketScape categories was Vertex (VERX) named Leader in for 2024?

Vertex was named Leader in three categories: Enterprise SaaS Sales and Use Tax Automation, VAT Management Applications, and SMB SaaS Sales and Use Tax Automation Software.

How many consecutive IDC MarketScape recognitions has VERX received since 2019?

Vertex has received IDC MarketScape Leader recognitions in 2019, 2021, and 2024, showing consistent leadership in tax automation software.

What key capabilities did IDC highlight for Vertex (VERX) in their 2024 assessment?

IDC highlighted Vertex's deep expertise in enterprise-level tax software, industry-leading content, real-time reporting capabilities, and customer-focused approach.

How does Vertex (VERX) address global tax complexities according to the 2024 IDC report?

According to the report, Vertex offers intelligent, automated, end-to-end tax management tools that help businesses navigate and adapt to the evolving landscape of global commerce.