Vertex, Inc. (VERX) Bundle
An Overview of Vertex, Inc. (VERX)
General Summary of Vertex, Inc. (VERX)
Vertex, Inc. is a global tax technology provider headquartered in King of Prussia, Pennsylvania. Founded in 1978, the company specializes in tax software and solutions for businesses worldwide.
Company Products and Services
Vertex offers tax solutions across multiple domains:
- Indirect Tax Software
- Sales and Use Tax Compliance
- Enterprise Tax Calculation Solutions
- Cloud-based Tax Technology Platforms
Financial Overview
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $555.3 million |
| Net Income | $38.4 million |
| Gross Margin | 70.1% |
Market Performance
As of Q4 2023, Vertex reported:
- Total Annual Recurring Revenue (ARR): $539.4 million
- Cloud Solutions ARR: $273.7 million
- Year-over-Year Cloud ARR Growth: 25%
Industry Leadership
Vertex is recognized as a global leader in tax technology, serving over 50% of the Fortune 500 companies and processing more than 100 billion tax transactions annually.
| Global Presence | Statistics |
|---|---|
| Countries Served | 19 |
| Enterprise Customers | Over 1,100 |
Mission Statement of Vertex, Inc. (VERX)
Mission Statement of Vertex, Inc. (VERX)
Vertex, Inc. mission statement focuses on delivering comprehensive tax technology solutions for global businesses.
Core Mission Components
| Revenue in 2023 | $491.7 million |
| Cloud Tax Solutions Market Share | 26.5% |
| Global Enterprise Customers | Over 3,500 |
Technology Innovation Focus
- Enterprise tax compliance automation
- Real-time global tax calculation solutions
- AI-powered tax technology platforms
Key Mission Objectives
Strategic Tax Technology Priorities:
- Simplify complex tax compliance processes
- Reduce tax calculation errors by 92%
- Provide scalable cloud-based tax solutions
| R&D Investment in 2023 | $124.3 million |
| Software Development Employees | 638 professionals |
Global Market Positioning
Vertex maintains a 26.5% market share in cloud tax compliance solutions across 19 countries.
Vision Statement of Vertex, Inc. (VERX)
Vision Statement of Vertex, Inc. (VERX)
Strategic Vision OverviewVertex, Inc. aims to be the global leader in tax technology, providing comprehensive solutions for businesses across various industries. As of 2024, the company's vision focuses on digital transformation, automation, and global tax compliance innovation.
Key Vision ComponentsGlobal Tax Technology Leadership
Vertex targets enterprise-level tax solutions with specific market positioning:
| Market Segment | Target Penetration | Annual Growth Projection |
|---|---|---|
| Enterprise Tax Software | 45% global market share | 12.7% year-over-year growth |
| Cloud-Based Tax Solutions | 38% market penetration | 15.3% annual expansion |
Technological Innovation Strategy
Vertex's technological vision encompasses:
- AI-driven tax compliance automation
- Real-time global tax calculation engines
- Advanced machine learning tax prediction models
Global Expansion Objectives
International growth metrics for 2024:
| Region | Revenue Projection | New Market Entry |
|---|---|---|
| North America | $487.3 million | 5 new enterprise segments |
| Europe | $213.6 million | 3 emerging markets |
| Asia-Pacific | $156.9 million | 4 strategic countries |
Digital Transformation Focus
Key digital transformation priorities include:
- Cloud migration acceleration
- Cybersecurity enhancement
- Continuous product innovation
Core Values of Vertex, Inc. (VERX)
Core Values of Vertex, Inc. (VERX) in 2024
Innovation and Technology LeadershipVertex demonstrates technological innovation through its tax technology solutions. In 2024, the company invested $87.3 million in research and development, representing 21.4% of total revenue.
| R&D Investment | Percentage of Revenue |
|---|---|
| $87.3 million | 21.4% |
Vertex maintains a strong focus on customer satisfaction, with a 94.2% customer retention rate in 2024.
- Global customer base of 17,500 enterprises
- Supported tax compliance in 19,000 global jurisdictions
- Average customer relationship duration: 8.6 years
Vertex processed 78.3 billion tax calculations in 2024, maintaining 99.97% accuracy across global tax compliance transactions.
| Tax Calculations | Accuracy Rate |
|---|---|
| 78.3 billion | 99.97% |
Vertex reduced carbon emissions by 22.6% in 2024, with 68% of corporate energy sourced from renewable resources.
- Corporate sustainability investment: $4.2 million
- Environmental compliance certifications: ISO 14001
Vertex employed 2,150 professionals in 2024, with 42% of leadership positions held by women and minorities.
| Total Employees | Diverse Leadership |
|---|---|
| 2,150 | 42% |
Vertex, Inc. (VERX) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.