News Article ————

Say hello to Vertex, sponsors of the UK eCommerce Innovation Award & eCommerce Software or Extensive Of The Year Award categories

Author image Published by Leenesha Friend
Published Date 24.10.2022

Vertex is honoured and delighted to support the thriving eCommerce industry through recognitions such as the UK eCommerce Awards.

For over four decades, we’ve been at the forefront of providing our customers with cutting-edge and innovative solutions to manage their indirect tax. Whether it is supporting end-to-end compliance, improving operational efficiency or helping to create a seamless online customer experience at the checkout, we’re proud that we can support the ambitious growth plans of the businesses we work with

How we’re helping eCommerce businesses become friction-free

The boom in online shopping has provided businesses, large and small, with plenty of exciting growth opportunities on a global scale. According to Asendia, it’s predicted that retail eCommerce sales will soar by 50% by 2025, reaching a whopping $7.4 trillion. But, as businesses continue to expand into new markets and territories to draw in customers, there is a level of complexity which comes with cross-border trade due to ever-changing indirect tax requirements. Whether it was navigating their business through the turbulence of the pandemic, the ongoing supply chain disruption, a fragile global economy, or changing tax legislation such as Brexit. We support eCommerce businesses by helping them overcome the challenges associated with tax complexity.

Whether that is automating processes to help handle an influx of transactions, updating VAT rules and regulations within the system to remain compliant, ensuring reporting and e-invoicing is error-free and ready to be audited at a moment’s notice, and even freeing up time for tax and finance professionals to work on more valuable tasks for the business. We’ve helped to drive many businesses forward when it comes to friction-free tax when selling online.

Innovative solutions for effective indirect tax management

Indirect tax might not be the sexiest topic but it’s certainly one to consider as part of a financial transformation strategy. Effective tax management requires dedicated resources to sustained tax research to make sure legislation changes are updated within the system for all jurisdictions where transactions are made. Systems designed for the retail space such as Point-of-Sale (POS), eCommerce or procurement platforms don’t typically have the capabilities to handle VAT processes efficiently.

Our integrated tax engine can not only help businesses deal with the complexity of global tax but also improve VAT accuracy whilst keeping pace with regulatory changes, ensuring transactions can be made anywhere, anytime – without friction.

As businesses across the globe continue to look to new technologies to streamline their online transactions and take advantage of the booming eCommerce marketplace, they need to make sure they have the right software and digital infrastructure to reap the rewards to accelerate their growth. The categories we are sponsoring at this year’s UK eCommerce Awards (eCommerce Innovation Award and eCommerce Software or Extension Of The Year Award) feels like an accurate reflection of everything we stand for at Vertex. We like to think that our indirect tax solutions are innovative and are an extension to a business’ existing infrastructure for handling tax processes.

The nominees for both categories we are sponsoring reflect the exciting pioneering and ongoing software development in the eCommerce space. Providing image-based production recommendations, innovations in automation of sortation, and virtual-augmented experiences. Self-serving integration platforms, AI product discovery, and eCommerce optimisation processes, the nominees reflect the excellence and success across multiple retail sectors.

Good luck to all the finalists, we have our fingers crossed for you all!

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