Firstlogic, Inc announced that it has partnered with Vertex Inc. to deliver a comprehensive tax compliance and address correction solution that ensures correct taxation rates are applied to customer transactions. Vertex provides tax process solutions for every major line of business tax, including income, sales, consumer use, communications, property and payroll tax. Firstlogic specializes in information quality tools to cleanse and consolidate critical customer and operational data. The Firstlogic/Vertex partnership will extend the range of solutions to provide individual transactions with an unmatched level of accuracy prior to applying tax rules and rates.
The new partnership enables Vertex's 10,000 corporate customers to easily integrate the most accurate level of address data through standardization and correction capabilities from Firstlogic with their Vertex solutions to pinpoint precisely where a transaction occurred. Likewise, Firstlogic customers will be able to incorporate Vertex's solutions for business taxes and extend the value of practicing information quality throughout their information supply chain, including how they determine and assign proper taxes during critical customer transactions.
"There are an average of over 750 tax rate changes and additions in the U.S. per year, and tax boundaries and jurisdictions are expanding or contracting all the time," says John Minassian, Vertex Inc. director of tax research. "In order for organizations to properly comply with tax laws, they need an automated process to ensure that transactions happening in real time, as well as the data stored in their systems, is as accurate as possible."
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