Vertex Unveils New Sales, Use Tax System SoftwareVertex Inc., Berwyn, PA, a provider of state and local tax compliance solutions for corporations, has introduced a new software product for calculating sales and use taxes on e-commerce transactions.
The product, called eQuantum for Sales and Use Tax, features integration via Java and XML programming languages to Java-based storefront applications and is scheduled for general availability during the first quarter of 2000.
eQuantum accepts transaction data passed from a host application -- via either Java Objects or XML documents -- and then provides a sales tax quote and/or final tax calculation to the online customer. The system includes databases to determine the appropriate taxing jurisdiction, applicable tax rates and any customer-, product- or jurisdiction-based exceptions. The tax amount is then passed back to the host application and, if necessary, recorded in a register database for tax reporting purposes.
Currently, Vertex has relationships with many e-commerce application providers such as Microsoft, IBM and InterWorld Corp. Vertex also has partnerships with enterprise resource planning software providers who've entered the e-commerce space -- such as SAP, Oracle, J.D. Edwards, PeopleSoft and Baan providers -- and provides sales tax calculation and compliance systems for their mutual customers.
Vertex also has partnerships with customer relationship management software application developers to provide sales tax calculation capabilities.
"We're excited to have recently signed an agreement with Siebel Systems, a CRM market leader, to develop an integration between their solution and eQuantum," said Paul Beirnes, manager of strategic alliances at Vertex. Beirnes said he anticipates expanding the partnerships with CRM vendors in the near future as well.
Vertex also has launched a new eTax Central section of its Web site, www.vertexinc.com, in conjunction with the development of eQuantum. Besides information about Vertex's partnerships and products, the site contains information regarding taxation and electronic commerce.
---By Melissa Campanelli