Seamless integration provides customers with tax automation, compliance and reporting
Minneapolis, MN (August 26, 2010) -- International Decision Systems today announced that ProFinia is now seamlessly integrated with the leading global tax solution, Vertex Indirect Tax O Series. The integrated solution centralizes all corporate tax processing and data and supports tax compliance with unrivaled automation capabilities and extensive tax rule research. This integration provides ProFinia customers with the ability to manage all tax events across the transaction lifecycle providing automation, compliance and reporting.
Tracking, reporting and accounting for sales/use/value-added taxes are difficult challenges for the equipment finance market since tax laws are continuously changing. ProFinia now relieves these burdens by seamlessly integrating with Vertex Indirect O Series at each tax trigger point in a transaction’s lifecycle. Tax events include origination, activation, asset split, asset upgrade, assignment, charge reversal, manual charge creation, mid-term restructure, charge generation, buyout quote, agreement termination, asset disposition, and address entry.
“Ever-changing tax regulations put a large burden on the tax departments of equipment finance companies,” said IDS Director of Product Management Katie Emmel. “We are pleased to provide our ProFinia customers with an integration to the most comprehensive tax solution in the market to address these challenges.”
Vertex O Series now integrates with ProFinia to support audit defense and tax reporting by determining:
- Where a transaction is taxed
- How a transaction is taxed
- What is taxed
- How much tax is charged
Vertex O Series also includes the following leasing specific content:
- Over 60,000 rules specific to leasing including international rules
- Tax support including VAT and up-front taxes
- Rates and rules updated monthly
- Vehicle and equipment transactions
- User defined rules
- SAS 70 certified research process
"IDS has been a long-time partner and this expansion has resulted in a leasing industry solution that will greatly improve tax department efficiency and dramatically reduce tax processing costs and compliance maintenance," said Jack Ferraioli, Vice President of Customer Relationship Development at Vertex. “Our integration with ProFinia provides a complete solution that will deliver the needed compliance and tax management the market requires.”
About International Decision Systems
IDS is the leading provider of software and solutions for the equipment finance market. For over 30 years, the company has offered integrated solutions from origination through disposition and asset management, supported by an ongoing research and development effort unrivaled in the market space. Customers include approximately 50% of the largest leasing companies in the United States, and an increasing number of the largest global players. In addition to offering powerful, flexible software, IDS provides the industry experience and expertise to assure successful, complete solutions. Headquartered in Minneapolis, MN, the company also has offices in the United Kingdom, India, Singapore and Australia. For additional information, visit www.idsgrp.com.
International Decision Systems®, InfoLease®, Rapport®, and ProFinia® are registered trademarks of International Decision Systems, Inc.
About Vertex, Inc.
With more than 30 years of experience, Vertex Inc. is the leading provider of enterprise corporate tax solutions and process management services worldwide. Vertex solutions help companies streamline and integrate tax provision and compliance processes, and leverage information to discover new strategic tax savings across every major line of business tax, including income, sales, consumer use, value added, communications, and payroll. To serve its customers, Vertex works in partnership with the world’s leading providers of ERP software and related services. Founded in 1978, Vertex is a privately held company that employs more than 600 professionals at its headquarters in the U.S. (Berwyn, PA) and its offices in Europe (London), Brazil (São Paulo), Atlanta, Chicago, Dallas, Phoenix, San Francisco, Sarasota, and Washington, DC. For more information about Vertex, visit vertexinc.com.
Vertex O Series is a registered trademark of Vertex Inc.
Press Contacts
Vertex:
Christian Barbato
Garfield Group Public Relations
Office: 215-867-8600 ext. 227
Mobile: 215-527-6616
cbarbato@garfieldgroup.com
International Decision Systems
Terry Welty
International Decision Systems
Office: 612-851-3597
Cell: 612-723-1937
twelty@idsgrp.com
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