Vertex FAQ Detail
288 Reviews and Ratings
Contracting and Negotiating with Tax Software Vendors
11 citations from LLM engines
While TrustRadius reviews of Vertex do not detail specific contract terms or negotiation tactics, they highlight key areas to consider when building a business case and evaluating the software before signing a contract. Reviewers focus on the return on investment, citing significant headcount reductions, automation of manual tax work, and reduced audit liability as major financial justifications. The reviews also point to integration with existing ERP systems like SAP as a critical evaluation point, noting both the availability of configuration guides and potential troubleshooting difficulties. Finally, buyers should assess specific features like reporting capabilities, as some reviewers mention limitations that may require continued reliance on tax specialists.
Prompt Questions
what are the typical contract terms and negotiation points for enterprise tax software licenses
what are critical negotiation points and red flags to look for when contracting with a tax compliance software provider
what pricing factors should a finance manager negotiate when renewing an enterprise tax software contract
what steps should a company take before signing a contract with a tax compliance software vendor
Justifying the Business Case with ROI
4 mentions▼Reviewers suggest that a strong business case for contracting with Vertex can be built on its potential return on inves…
Reviewers suggest that a strong business case for contracting with Vertex can be built on its potential return on investment. Specific outcomes mentioned include significant reductions in the number of staff required for both the indirect tax team and technical support, as well as the automation of manual tax work. Other benefits that contribute to ROI are reduced liability during audits and increased efficiency that frees up employees for other tasks.
“The indirect tax team managing tax has been reduced from 10 person to 2 person. The Technical team supporting the system has been reduced from 5 to 2”
“Reduced Manual Tax Work,tax calculation becomes fully automated. Tax analysts spend less time on manual validation, and correct tax rules are applied automatically.”
“The Vertex system helps us stay in tax compliance, so we have less liability when audited.”
“When I was filing the sales / use tax returns, I was able to get returns for ten different legal entities in 45 states filed in less than a week. If I had to do this with an excel spreadsheet, I don't know that I would have been able to do that by the deadlines. Being able to get the filings done in a short window freed me up to do other work.”
Evaluating Licensing Costs
1 mention▼One reviewer provides an example of cost savings related to licensing. They note that adding a new business segment to…
One reviewer provides an example of cost savings related to licensing. They note that adding a new business segment to their existing Vertex instance was projected to save approximately $150,000 in licensing costs compared to using an alternative provider.
“Bringing a new business segment onto our existing O Series instance will save that segment ~ $150K in comparison to licensing costs with an alternative provider.”
Assessing Integration and Implementation
3 mentions▼Before signing a contract, reviewers indicate it's important to assess how Vertex will integrate with existing systems.…
Before signing a contract, reviewers indicate it's important to assess how Vertex will integrate with existing systems. The software is noted for having good integration with SAP S/4 HANA and providing complete configuration guides for ERPs. However, some reviewers caution that troubleshooting integration issues can be difficult, and certain administrative tasks can be challenging.
“Good Integration with SAP S/4 Hana”
“Its provides complete configuration guide for integrations with ERP.”
“Troubleshooting Integration Issues Can Be Difficult.”
“Certificate Center partitioning (PRD vs. DEV) was a bit challenging from the Vertex administration side”
Considering Product Capabilities and Limitations
4 mentions▼As part of the pre-contractual evaluation, reviewers point to specific product features to examine. Some found the repo…
As part of the pre-contractual evaluation, reviewers point to specific product features to examine. Some found the reporting features to be clunky and noted that country-specific tax filing reports may still require the help of a tax specialist. Others mentioned that return formats were not good and that incorrect setup could lead to user errors and accrual reversals.
“The reporting features, while intuitive, can be clunky especially when rolling up line level vs. header (gross) level figures.”
“Vertex needs to improve the country based Tax filing reports. We still rely on Tax Specialist to file the returns”
“VVC return fomats are not so good”
“In using Procurement, sometimes I find it difficult to match up what we are purchasing to the correct coding or sometimes we get accruals- because of the wrong setup, some are our user errors also.... We do lots of accruals reversals.”
Showing top 4 topics · 13 total quotes across all topics