Spend Matters is delighted to announce the 2022 edition of the “50 Procurement Providers to Know” and “50 Procurement Providers to Watch” lists, released at the SIG Global Executive Summit on October 17. For the 9th year in a row, our analysts debated intensely to determine which companies across 10 procurement technology market sectors deserve closer attention as best-in-class or up-and-coming. “50 Procurement Providers to Know” lists the companies that we believe set the industry standard while “50 Procurement Providers to Watch” have innovative products or ideas that could propel the market forward as the company further develops.
Each year, some companies transition from being worth watching to ones that CPOs need to know. This year, our analysts agreed four companies had proven their potential to be considered best-in-class providers to know: AvidXchange, Everstream Analytics, Simfoni and Vertex. Because of the work this achievement represents, we interviewed each vendor to learn what strategies or product enhancements it implemented over the past year and what its ambitions are going forwards.
In this piece we talked to Vertex, an indirect tax technology industry leader with 40+ years’ experience that centralizes the indirect tax requirements across the business, ensures the consistent tax treatment of every transaction and offers tax visibility across the enterprise.
In the decision-making process our analysts concurred:
“Vertex offers one of the leading solutions in tax compliance at a global level. It is also integrated with P2P and AP automation solutions to validate taxes on invoices.”
In the past 12 months, what do you think your company has achieved to make it stand out to our analysts and effect this transition?
We work side-by-side with a powerful ecoystem of consulting, tax tech and implementation partners. Our fit-for-purpose solutions which are powered by our ever-growing global tax content database and backed by strong ecosystem partnerships make Vertex the clear choice when our customers look to upgrade their tax technology.
Vertex is proud to serve over 4,000 customers around the world. Our customers are at the heart of global commerce growth and represent the most dynamic companies in the world, spanning every industry.
We continue to bring new products to market with speed and scale to enable connected, end-to-end solutions. The release of Vertex O Series Edge solution enables us to consistently address commerce wherever it is happening – even down to the point of sale. Reducing latency, improving security, providing continuous service and redundancy.
What do you think is the biggest secret to your success since Spend Matters first named you a Provider to Watch?
The secret to our success is both a constant drive to innovate and provide our customers with the solutions, services and support they need to grow, and optimize CX for their customers.
What are your ambitions for further success going forward?
We will continue to innovate and expand the capabilities of our solutions and supporting services to meet the global needs of our customers. Delivering value for tax, finance and IT, streamlining tax determination and compliance, while reducing the burden of tax data management and analytics.
What does it mean to your organization to become a Provider to Know in 2022?
To be recognized would provide further validation of our vision, to accelerate global commerce. Afterall, our mission is to deliver the world’s most trusted tax technology, enabling global businesses to transact, comply and grow with confidence.
The full 50 To Know/50 To Watch lists can be found in the Spend Matters Almanac, our procurement vendor directory, where you can register for free if you’d like to get under our analysts’ radar for next year’s lists.