Mission Statement, Vision, & Core Values (2024) of Vertex, Inc. (VERX)

Mission Statement, Vision, & Core Values (2024) of Vertex, Inc. (VERX)

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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 Overview

Vertex, 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 Components

Global 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 Leadership

Vertex 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%
Customer-Centric Approach

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
Commitment to Compliance and Accuracy

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%
Sustainability and Corporate Responsibility

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
Employee Development and Diversity

Vertex employed 2,150 professionals in 2024, with 42% of leadership positions held by women and minorities.

Total Employees Diverse Leadership
2,150 42%

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