KING OF PRUSSIA, PA — Vertex, Inc. (NASDAQ: VERX), a global provider of tax technology solutions, announced a new integration of its Vertex® Lease Tax O Series® with Alfa Start. Alfa Start, built exclusively for auto leasing operations of all sizes, is the preconfigured edition of the cloud-based Alfa Systems, the market leader in asset finance software worldwide. This extends Vertex’s partnership with Alfa, a best-in-class technology provider that powers some of the world’s biggest names in automotive finance.
Managing the tax complexity on lease and rental transactions with confidence is critically important for businesses. The constant changes in rates and rules across jurisdictions, states and products creates a need for integrated software to calculate indirect taxes for all lease transactions. Vertex tax technology enables Alfa Start customers to automate tax for transactions throughout the life of the lease. Alfa clients can also simplify exemption certificate management with Vertex O Series, reducing risk and creating a single digital data repository, as well as improving audit performance.
“Strengthening our relationship with Vertex helps us create a streamlined customer experience and futureproof asset finance programs,” said Simon Clark, Alfa’s director of product and delivery, Americas. “This new solution from Vertex and Alfa Start provides auto leasing companies with a unified platform tailored to their specific tax needs so they can focus on accelerating growth.”
The Vertex O Series leasing solution was designed specifically for the highly complex tax needs of lessors. The integration combined with the power of Alfa Start, enables customers to simplify and automate taxation on lease transactions and provides complete visibility and control across business operations, while improving tax accuracy.
“As the size of the global automotive finance market nears $250B, leasing remains one of the most complex areas of tax compliance,” said Chris Jones, chief revenue officer at Vertex. “Our goal is to enable Alfa customers to make tax a seamless part of each transaction as more companies expand their leasing operations. Our technology on the Alfa cloud-native platform is another example of co-innovation in the auto finance space.”
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