Vertex Cloud and ONESOURCE are both tax compliance software. ONESOURCE provides more products and features around tax compliance for various financial service providers, while Vertex Cloud focuses on tax compliance for other industries, such as retail, e-commerce, leasing companies, and manufacturers.
ONESOURCE and Vertex Cloud both provide strong features tailored to their target customer bases.
ONESOURCE offers businesses a wide range of individual products that can be purchased a la carte. This pricing structure allows organizations to buy what they need without being bundled with extra unnecessary features. They also tailor some capabilities to the unique tax needs of financial service professionals, such as wealth or estate managers. They also offer robust capabilities for multinational companies that navigate multiple global jurisdictions.
In contrast, Vertex Cloud specializes in providing tax compliance services to North American or domestic businesses. In particular, Vertex caters to retailers and e-commerce businesses, which benefit from Vertex Cloud’s robust cross-jurisdiction tax knowledge. Tax compliance is also streamlined with the platform’s automated real-time tax calculations for multi-state transitions.
While ONESOURCE and Vertex Cloud both have areas of strength, there are some limitations to each product to be aware of.
ONESOURCE’s myriad products allows for more customization, but can also make support difficult. Some reviewers describe distinct support teams for each product, which can make getting the right help from the right reps difficult when there are cross-product issues or complexities. Domestic-only businesses, especially those that aren’t high-volume transaction businesses, may also not be able to make the best use of ONESOURCE’s global capabilities.
On the other hand, Vertex Cloud’s focus on North America and Europe may result in less expertise in other global tax jurisdictions. The customer support from the vendor has also been criticized by reviewers, particularly when there are issues with the software itself, rather than tax compliance questions.
Vertex Cloud and ONESOURCE’s pricing are both customer-specific. Concrete pricing is available by quote from each vendor.
Provided by the TrustRadius Research Team
Published on June 10, 2020
Likelihood to Recommend
Feature Rating Comparison
Sales and Use Taxes
VAT / GST Taxes
Geolocation for Tax Assessment
3rd-Party Software Integrations
Tax Data Reporting
Compliance Administration Management
Tax Exemption Processing
Tax Document Management
Complex Tax Scenario Management
- ONESOURCE allows for easy implementation. We were able to implement the product in a few weeks.
- ONESOURCE provides detailed records that provide support for the groupings on the tax return. This will assist in providing documentation to auditors in a timely fashion.
- Vertex Cloud calculates and manages our customer sales and use taxes for our various products and services for both our US and Canadian entities.
- We are using Vertex to manage our Exempt Certificates and utilization by product, region, and services.
- Vertex Cloud Tax Filings will initially be used to track and manage part of our business activities and reconcile certain business areas. We are excited about moving forward to relying on Vertex for the creation and of our tax filings and reporting data that will fill a large void in some areas of our business operations.
- ONESOURCE absolutely needs to restore their TIN Matching feature. Not having a TIN Matching feature is huge and needs to be addressed immediately.
- The ability to look at multiple tax years for a single recipient would be huge. Currently, if a recipient asks us to pull three years of data, this means three different searches within each year's ONESOURCE instance. It's tedious and could be improved.
- More help with how to use the test transaction utility. Not really user-friendly with the steps to take to get a correct outcome.
- Why do I have to go to MyVertex to enter a ticket? Can you add it to my instance so I don't have to login somewhere else?
Return on Investment
- Without the use of ONESOURCE Transfer Pricing, we wouldn't be able to turn out transfer pricing documentation on our own. We have approximately 125 transfer pricing reports a year that require preparation, and outsourcing those at $15-25,000 a piece isn't feasible. We pay less than $50,000 annually for ONESOURCE Transfer Pricing and can now turn out as many reports as we need for a flat fee.
- ONESOURCE BEPS Action Manager ("BAM") allows us to prepare both our Country by Country Report and our Master File in house. We had received quotes from accounting firms in the range of $100-200,000 annually for a Country by Country Report and $50,000 for a Master File annually. For a $20,000 investment annually in BAM, we can complete both in house.
- The Vertex Cloud front end was very simple to stand up. Our tax department along with our implementation partner, had the configurations done in a few week's time.
- Knowing now that the Cloud returns does not have full functionality and EDI capability, we would not have made the decision to purchase Cloud for the calculation engine and may have gone with on-demand.