LONDON, September 25 /PRNewswire/ --

- Vertex Announces Launch of Vertex(R) O Series(R) Automated VAT Solution

Tax technology solutions company Vertex Inc. today announces the launch
of its Vertex Value Added Tax O Series product in Europe. Aimed at tax
professionals in multi-national organisations, the product enables
centralised tax management and significantly reduces the complexity and cost
of VAT recordkeeping and compliance.

Recording VAT, keeping track of the associated rules and rates and
producing timely and accurate reports, returns and lists is an increasingly
complex, time-consuming and costly task for organisations. This is
exacerbated when dealing with international transactions and multiple
jurisdictions across numerous business units.

Vertex Value Added Tax O Series drastically simplifies this process. The
system analyses transaction data and determines jurisdictions and
accountability for each transaction on a real-time basis. VAT is calculated
based on defined rules and rates and recorded in a tax journal. This
information can then be used for audit documentation, tax reports and
preparation of tax returns.

The system is capable of managing place-of-supply regulations,
product and services exceptions, acquisitions and dispatches, shipping terms,
import VAT and export sales. It can be adapted to a variety of operating
environments, and is compatible with all leading ERP software systems, such
as SAP and Oracle.

Alan James, European Director of Client Solutions at Vertex, said: "Tax
authorities everywhere are placing increasing emphasis on accurate VAT
recordkeeping and reporting. Failure to provide transparency in this area can
expose businesses to strict penalties.

"Vertex O Series provides accurate VAT calculation and enables tax
professionals to manage VAT compliance simply and efficiently across borders
and business units."

Vertex Value Added Tax O Series helps tax professionals to achieve:

- Sophisticated tax jurisdiction determination: by identifying
the proper tax jurisdiction(s) for each transaction.

- Robust, up-to-the-minute data: changes to VAT data in all
countries are automatically and continually updated to ensure that the
system is always accurate.

- Accurate tax calculation: covering domestic and international
transactions,

Vertex Value Added Tax O Series automatically processes every
transaction. The system addresses requirements under the European Union Sixth
Directive - along with country-based exceptions for each Member State.

- Flexible taxability management: the product can be customised
in line with company-specific data and rules, in order to accurately
reflect VAT scenarios unique to each organisation.

- Enhanced reporting: when combined with Vertex Reporting and
Analysis(TM), Vertex Value Added Tax O Series offers sophisticated
management reporting beyond the requirements of VAT compliance.

Alan James said: "Tax departments in Europe are looking to simplify VAT
calculation and ensure transparency and compliance - while reducing internal
costs.

"Vertex O Series offers centralised visibility of each business unit's
VAT position and full control over the management of VAT decisions and
processes."

The recognised leaders of tax management solutions in North America,
Vertex opens its European subsidiary, Vertex Global Tax Solutions, in London
this month.

http://www.vertexgts.co.uk.

Further information:

    Daryl Newman, Vic Crook, Rachel David at Man Bites Dog
    +44-1273-763-911
    daryl/vic/rachel@manbitesdog.biz