NEW YORK, Aug. 8, 2016 /PRNewswire/ -- KPMG LLP, the U.S. audit, tax, and advisory firm, has announced an alliance with Vertex Inc., a leading provider of corporate tax software and services, to offer companies an approach to their management of global indirect tax compliance that can help reduce costs and tax audit risk.
"Today's tax leaders operate in a rapidly changing environment, with increased oversight from global regulators, heightened reporting and compliance requirements," said Brian Stromen, KPMG's U.S. leader for State and Local Tax. "We've developed a solution with Vertex that can enable tax departments to operate with greater efficiency, speed, accuracy, and strategic impact as they manage their indirect tax exposures around the world."
"Because tax is routinely among the largest items on a company's financial statement, there is ever-increasing interest among tax leaders and their financial peers to elevate the business value for tax," said Jack Ferraioli, executive vice president at Vertex. "Working with KPMG, we can help business leaders focus on activities that result in meaningful, measureable financial benefits to their global organizations."
The alliance combines KPMG's tax services and global indirect tax experience with Vertex tax technology to help companies more effectively address their indirect tax reporting and operations, including global tax compliance requirements.
In addition, KPMG and Vertex can help clients manage tax risk and exposure to audit adjustments, potential indirect tax fraud and revenue loss, and increase the effectiveness and quality of business systems that underpin the transactions that give rise to tax obligations.
By automating the determination of tax exposure, calculating tax payments, and streamlining reporting across multiple jurisdictions worldwide, Vertex tax technology solutions provide an overview of potential exposures and highlight opportunities for better tax management.
Stromen added, "By coupling tax technology solutions from Vertex that have a specific industry focus, such as the telecommunications industry, with KPMG's complementary industry tax compliance insight and technical knowledge, the alliance provides the marketplace with a prominent solution that meets the evolving tax challenges of today and tomorrow."
To learn more, visit https://home.kpmg.com/us/en/home/services/strategic-alliances/kpmg-and-vertex.html.
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 174,000 professionals, including more than 9,000 partners, in 155 countries.
Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates.
Founded in 1978, Vertex Inc. is the leading provider of corporate tax software and services for companies of all sizes, from small to medium-sized businesses to global multinationals.
Vertex solutions enable companies to realize the full strategic potential of the corporate tax function. The company offers a variety of products and services that allow businesses to automate, integrate, streamline or even outsource their corporate tax processes. Vertex provides solutions in every major line of tax including income, sales and consumer use, value added and payroll. Vertex also offers tailored solutions for specific industries including retail, communications, hospitality and leasing. Vertex Managed Services allows companies to outsource sales and use tax returns and exemption certificate management.
Known for its innovative culture, Vertex is a privately held company that employs over 850 professionals across the globe, at its headquarters in the U.S. (Berwyn, Pa.) and offices in Europe (London), Brazil (São Paulo), Dallas, Fort Collins, Naperville, Phoenix, San Francisco, Sarasota and Seattle.
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SOURCE KPMG LLP