Boston based Botkeeper is the world's first and original robotic bookkeeper. The Botkeeper solution uses a combination of skilled accountants, machine learning, and AI to provide the best bookkeeping at the lowest possible cost. Instead of replacing your existing accounting software, we'll hook right up to it! Botkeeper can easily and quickly integrate with Quickbooks Online or Xero. Getting up and running is simple- 1. Data is extracted from both financial and non-financial sources.…
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Vertex
Score 8.2 out of 10
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Vertex combines tax research with technology to improve tax accuracy and
consistency on sales and purchase transactions. The automation aims to support high volume and complex transactions at speed and scale to streamline internal
processes and improve audit performance. Integrations to
ERP, e-commerce, procurement, and other billing systems enables a single tax
engine to seamlessly support a growing business. In addition to tax
determination, Vertex provides tools and services to automate and…
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Pricing
botkeeper
Vertex
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
botkeeper
Vertex
Free Trial
Yes
No
Free/Freemium Version
Yes
No
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
Our goal is to offer bookkeeping solutions that are not only best in class, but available to all companies at all stages of growth. We have our Free Package, all the way up through Custom Packages, and everything in between!
Well, Suited Scenarios are: Automating the data entry, analysis, bookkeeping, managing finances fairly on this basis, and pulling out burndown charts, reports, and other analytical chapters. hence it helps in understanding the business, cash flows, or issues related to that which surely end up with the ideas of revenue growth directly and indirectly as well. And the most important thing in all this is done by AI-powered tools so management of resources overhead is no more. Scenarios where it is less appropriate: When it comes to a strong comprehensive accounting then the bookkeeper fails there and we need to integrate with third-party service providers to achieve the goal. So this is the worst scenario. And for detailed resources, one needs a vast knowledge base, and that's not the case with the Botkeeper as its knowledge base appears to be limited to basic.
It is easy to use, and the user interface is very interactive. A beginner can also work with ease and have no difficulty accessing Vertex. It is straightforward to understand how Vertex works. The tax calculation mechanism is good and accurate.
Vertex does a great job of building in-house industry expertise (leasing in our case) so they truly understand the tax technical and compliance obstacles we face day to day.
Vertex actively solicits for and responds to customer feedback on development and product roadmap suggestions. The Leasing users group is an example where Vertex takes an active role in communicating with and taking feedback from our industry.
Vertex tax updates are very timely and thorough, which makes the compliance process less stressful for our team.
Reporting: Vertex VAT Compliance is not fully ready to support all EU country's requirements.
Data storage.
Online reporting in VVC: many countries require to report VAT Declaration in an electronic way. This function is still missing for some of the countries from VVC.
We are satisfied with the overall performance of Vertex. The software has provided my company with many efficiencies. We have shorted our audits and found that many audits are happy that we are using Vertex to calculate our taxes. We no longer need to worry about updating our rates each month since Vertex sends us a file to upload
Great program, but a lot of features are still manual. It's difficult to set recurring monthly reports in a time frame of "Previous Month" and we have to kick them off. We have to manually delete reports, there isn't an option to choose multiple at once. Data that is transferred into Vertex returns is quirky as well, taking multiple steps to update lines of data.
Our Vertex performance is good, although we are now experiencing Error 502 when adding additional data points to our transaction tester single tests. At Exchange, I was told to reach out to support....that most likely the On Demand system needed some additional CPU resource added. I have a currently open ticket, that has not yet been fixed on this matter
I cannot speak from personal experience, but our IT staff has found contacting Vertex support staff to be challenging. One coworker has gone through several support tickets because he was an unrecognized contact. He has also expressed frustration that communication with support staff is conducted solely by email, drawing out issues over an extended length of time that could be more easily resolved by a brief phone call.
By training I'm referring to our engagement with Vertex Consulting's professional services group. Each person on the engagement had prior leasing industry tax experience and most if not all used O Series before joining Vertex. Consultants with industry specific tax experience provide so much more than just "training". They are able to engage in deep tax technical discussions with actual experience while in private practice. This coupled with having visibility to how numerous other leasing peers approach similar tax issues is a huge plus on top of the standard training.
Vertex has offered multiple webinars for the products we have purchased that are informative and helpful. I've also attended a few of the Vertex annual conferences where I was able to strength my knowledge of Vertex. I also found that their online library and videos can be helpful in resolving issues and answering questions.
The implementation is challenging, make no mistake but will provide much value over time. Make sure you have full support of IT and your major stakeholders in your company. I found that while many people claimed to understand tax was important, they had no idea how deep tax in entrenched throughout the lease life cycle.
Botkeeper is quite new to accounting solutions. The tech base is quite new and cutting edge. Service support is quite fast and good. Integration support is open to another third party to enhance in all possible ways. Eliminates overhead of hiring permanent resident accountants. Great user experience and well-optimized tools.
In comparison specifically with Avalara, Vertex is better in every way. It is much more customizable and allows us to change the way our tax software is set up for our business needs. Avalara is much more constricted, and is using the SST system which can allow for simplified returns, but in our case was causing more problems. Avalara is also much more expensive than Vertex, for less capabilities. Vertex' customer support is much stronger than Avalara's, as they are focused on obtaining and retaining customers whereas Avalara was continually trying to find ways to get money from us
There needs to be a time-consuming setup both in the Enterprise Resource Platform and in Vertex and the related tools as well but once this is all established, Vertex is very proficient at calculating Sales and Use Tax in the USA and in Canada with GST/HST, as well as several of the provinces where we are located. As we added plants in different jurisdictions via greenfield expansion and aquisition, Vertex was able to integrate those as long as the tax department is fully informed of the system.
We use Vertex on a monthly basis to see if tax has been over-accrued or over-charged on invoices. We do save tax every month using the tool. Not at liberty to share too much more - the technology does assist the human efforts.
