The Importance of Financial Systems in the Age of Digital Transformation – Automating Tax Compliance with Oracle Cloud and Vertex Solutions
Companies worldwide are in the midst of a rapid digital transformation that has only accelerated in recent years due to the COVID-19 pandemic. This transformation includes crucial financial systems and the ways in which businesses are handling the myriad of requirements impacting tax determination and reporting.
Clunky, outdated legacy finance systems typically get by on temporary fixes and adjustments but can’t handle the sheer number of complex financial transactions global companies experience today. Especially when it comes to tax compliance calculations involving countless rules and rates, learn why more and more enterprises are shifting to Oracle Fusion Cloud ERP and discover how Vertex's tax solution automates and streamlines those processes.
Reduce Complexity with Integrated Tax Technology
Tax impacts every business transaction. In today’s digital, omnichannel, unified commerce world – customers expect to have the same seamless experience regardless of how and where they decide to engage and purchase from your business and whether you are selling B2C or B2B.
There are a growing number of potential issues that can impact their experience and your organization’s bottom line: from low bandwidth and the inability to accurately calculate tax, to latency and delayed checkouts and more.
Watch this on-demand webcast with Vertex and the Oracle Applications & Technology Users Group (OATUG) to discover strategies to remove barriers to your business growth and customer satisfaction. Key topics covered include:
- Aligning your tax and financial strategies with IT and the business to support growth.
- Applying modern strategies for deploying tax technology such as containerization and EDGE.
- Reducing risk from a tax, regulatory and technical perspective.
Vertex and Oracle: Aligning Finance and IT to Work Together to Achieve Business Transformation
Enterprises often struggle with tax complexity because Finance and IT are not aligned. Manual and siloed tax calculation carries significant risk for enterprises, especially in the face of the ever-changing, complex global tax rules and regulations. Unless systems are seamlessly connected and working together, tax won’t be determined and applied consistently across all transactional systems in the organization.
Yet, with the right systems and integrations in place, organizations can not only extend the value of their ERP system, but also increase accuracy, remove friction, and reduce risk.
In this white paper, learn how integrating a robust, centralized tax engine into your Oracle ERP system can help align Finance and IT and reduce complexity by consolidating tax into a single system that can integrate across all relevant transactional touchpoints.
Completing Your Cloud Migration: Tax Automation in the New ERP Ecosystem
Tax groups have a meaningful opportunity to enhance the value of their organization’s digital transformation effort. This priority, which involves migrating tax automation to the cloud in tandem with larger enterprise resource planning (ERP) cloud migrations is becoming even more time-sensitive.
This white paper examines leading approaches to cloud migration involving tax automation (integrated with cloud-based ERP). The discussions can help tax, finance, and IT groups lay the groundwork for tax automation success after a new cloud-based tax automation solution has been implemented and integrated.
Why Oracle Users Should Move to the Cloud – And Take Their Tax Engine with Them
Today’s businesses are shifting to a digital-first, cloud-first model as more and more customers and clients expect seamless, on-demand access to financial systems and data. At the same time, there is another shift towards tax automation due to ever-changing regulations and compliance requirements – which will continue to evolve and become more stringent with time.
To remain competitive and agile in the face of this business complexity and set the foundation to future-proof the business, many Oracle users are considering a digital transformation to the cloud to better manage their business. But what really are the benefits of making such a shift, and how does it impact tax?
In this e-book, we will walk you through:
- The benefits of moving your on-premise ERP to Oracle Cloud.
- Why your tax engine should be included in your move.
- Two migration pathways Oracle users could take, including highlights of Oracle Cloud Infrastructure (OCI) and Vertex Accelerator for Oracle Cloud ERP.
- A summary of Vertex and Oracle’s Partnership.
Preparing Your Business for Global Growth: Streamlining Cross-Border Tax Compliance
As consumers have shifted toward digital engagement with brands and retailers during the COVID-19 pandemic, the opportunity to expand and reach customers globally has never been bigger. But as you build your strategy for international growth, one of the biggest challenges you will face is ensuring compliance with the many tax and regulatory requirements of the countries and regions where you will be doing business.
Depending upon your business model and plans for expansion, there are a variety of tax and compliance requirements that you will have to comply with – from Value Added Tax to trademark tax, import and export taxes, etc. And while Oracle applications offer some capabilities to help address these requirements, without the right strategy and tools, cross-border tax compliance can become very difficult and costly to manage.
In this webcast, learn about best practices and insights that organizations can use to streamline global tax determination and compliance, including:
- The current global tax and regulatory landscape and what you need to know to ensure cross-border tax compliance.
- How to extend the capabilities of your Oracle applications with Vertex tax solutions to reduce manual processes, streamline tax determination and reduce risk.
- Case studies, metrics, and shared learning from peers.
The Future of Tax is in the Cloud
The cloud computing market is booming, with Gartner projecting the industry to exceed $331 billion by 2022. That’s no surprise considering the benefits include cutting costs, improving data quality, increasing security, and ensuring reliability.
Check out these stats, based on a survey of IT professionals, to learn why your organization should upgrade its tax applications or migrate them to the cloud.
Companies that migrate their tax applications to the cloud accelerate digital transformation and experience many benefits:
- Improved data management
- Increased process automation
- Faster access to new functionality
- Enhanced security
- Decreased costs
- Easier implementation
Manufacturers and Distributors Modernize Their SAP Solutions to Address Tax and Technology Challenges
The wave of digital transformation that has prompted businesses to migrate some applications to the cloud and re-evaluate process efficiency has officially hit the Manufacturing and Distribution (M&D) industry. In anticipation of the next worldwide crisis, M&Ds can refocus on their core businesses, streamline and automate tax management, and redesign their supply chains to be more flexible, scalable and risk-tolerant.
In this white paper, we share key learnings from IDG’s Research MarketPulse Survey that uncover the challenges IT and finance leaders at M&D organizations are facing today, and the drivers behind their current and future technology plans.
5 Reasons to Automate Sales And Use Tax Compliance
Ensure Peak Performance In The New Business Environment
Monthly sales and use tax compliance can be a massive burden for your finance department. If you’re looking for ways to control costs and make smart investments, automating these processes in-house using tax compliance technology — or outsourcing them — can deliver measurable business benefits like:
- Reducing audit risk
- Boosting staff value and ROI
- Cutting costs
- Improving governance and controls
- Enhancing scalability
State of the Market for Enterprise Cloud Deployment for SAP Users
This special report compiles all the research found when SAPinsider surveyed 116 members of their community. The purpose of the survey was to determine what is critical to their cloud deployment, which cloud providers and deployment models they are using, and what workloads they are running in the cloud. In this special report, learn what drives organizations in their approach to enterprise cloud deployment, discover the top requirements and tools for cloud deployment strategies, and gain your strategy guidance for optimizing cloud deployment processes.
Why Tax and IT Need to Work Together When Migrating to SAP S/4HANA
The collaboration of tax and IT departments can ensure optimization of processes, while the tax customizations are also considered. In this white paper, learn how these teams can work together to enable business growth, improve compliance and efficiency, all while ensuring a smooth rollout for IT.
Reimagining Supply Chains in the Wake of COVID-19 Disruptions with SAP and Mirakl
Consumers worldwide responded to COVID-19 outbreaks by hoarding products, and disregarding brand loyalty, which greatly impacted supply chains. In this e-book, learn how to remedy supply chain disruption by understanding technology choices to better manage supply chain challenges.
Manufacturers and Distributors Modernize Platforms and Solutions to Address Tax and Technology Challenges
The wave of digital transformation that has prompted businesses to migrate some applications to the cloud and re-evaluate process efficiency has officially hit the Manufacturing and Distribution (M&D) industry. Having shifted their sourcing to a handful of large overseas suppliers over the past decade, many companies were unprepared for COVID-19 lockdowns that increased demand for certain materials and introduced new business models and shopping habits as global supply chains were disrupted. In anticipation of the next worldwide crisis, M&Ds can refocus on their core businesses, streamline and automate tax management, and redesign their supply chains to be more flexible, scalable and risk-tolerant.
In this white paper, we will review some highlights from IDG’s Research’s MarketPulse Survey of employees at M&D organizations with revenues of between $250 million and $1 billion. The purpose of the research was to better understand from M&D employees the drivers behind decisions, challenges they are facing today, and any future-state technology plans.
Vertex Indirect Tax Solutions in the Oracle Cloud
Vertex Indirect Tax O Series, powered by Oracle Cloud Infrastructure, is a strategic collaboration that enables companies who are running their Oracle applications on OCI, to leverage Vertex Indirect Tax O Series, a best-in-class enterprise indirect tax solution, on the same platform.
During this webcast, learn how our joint customers can build, deploy, integrate, and extend Vertex tax solutions in the Oracle Cloud. We will also discuss how we ensure that rigorous security and performance standards are and continue to be met.
Digital Transformation Demands a New Approach to ERP with Oracle Fusion Cloud ERP
When selecting an enterprise resource planning (ERP) system, executives often overlook the power it holds today and the importance of tax compliance. Some organizations still believe that the operational systems that have supported their companies in the past, will help to do business in a new way as they grow. However, ERP can be a significant impediment to modernization if the processes encoded in the software are inflexible or bind the company to outmoded ways of doing business.
In this white paper, learn about factors which IT leaders should consider when planning for an ERP transformation along with business transformation, the significance of choosing a tax-aware ERP and how the right ERP solution can accelerate the pace and benefits of transformation.
