Vertex Inc.® and Corporation Service Company® Integrate Tax and Corporate Compliance in CSC's TaxCenter

New alliance creates one-stop-shop for corporate and tax compliance solutions.

CSC and Vertex Team Up to Offer Compliance Solution

Increased emphasis on corporate accountability has changed the way U.S. companies are being audited. Often treated as isolated issues, in today’s tougher regulatory atmosphere, tax compliance and corporate compliance have converged under the reporting requirements in Sarbanes-Oxley. This is why CSC has chosen to team up with Vertex Inc. (www.vertexinc.com), the world’s leading provider of tax technology solutions, to offer a solution of complementary products and services to ensure that all of their customers’ entities are in good standing and have satisfied all of their tax compliance-related requirements. Together with Vertex, CSC has created TaxCenter on CSC’s IncSpot, which offers key tax compliance information and services. TaxCenter also provides a selection of Vertex’s software and reference tools.

Corporation Service Company was the first registered agent to offer web-based applications to help customers achieve good corporate governance. The CSC Vertex alliance allows CSC to extend its suite of integrated corporate compliance services to help customers satisfy their tax compliance requirements. "Companies today face ever-changing and more complex business compliance issues," says CSC president, Bruce Winn. "At the same time, companies that conduct interstate commerce are faced with requirements to track tax rates and rules relating to the sale of goods and services, making tax compliance especially difficult. Our alliance with Vertex provides companies with a one-stop-shop for corporate and tax compliance, thereby increasing the cost efficiencies of companies that choose not to do this all on their own. By teaming up with Vertex, CSC customers will further leverage the value they get from using CSC as their registered agent."

About the Solution

CSC and Vertex are working to provide a solution that combines entity management and tax compliance management services. As a provider of entity management services, CSC maintains current entity structure and location information for their customers. Using this information as input to Vertex's tax calculation software, customers will be able to ensure that tax calculation is executed on the most up-to-date corporate entity information. In addition, CSC will offer its customers document management and storage of resulting tax filing documents, for easy access and reference. Finally, e-mail alerts regarding entity changes will push critical entity information to the corporation's tax department on a timely basis and as part of the corporation's workflow.

CSC and Vertex are working to provide a solution that combines entity management and tax compliance management services. Combining a corporation's entity information, such as entity structure, registrations, locations, etc., with Vertex's tax compliance processing software will allow a corporation to increase the timeliness, accuracy, and effective management of its tax planning, calculation, and filings.

This solution will begin with CSC’s RecordsCenter, where a corporation’s entity structure information resides. Once integrated, taxes will be calculated on the most current entity structures in place, and any changes to the entities will be automatically reflected in the Vertex software. Completed tax filings will then be sent back to RecordsCenter for document management services, such as storage, access, disaster recovery, and reproduction, as needed for audit defense or reference.

Benefits to the New Workflow

This workflow solution ensures a higher level of accuracy in a company's tax compliance since entity structure information is continuously updated, based on CSC's tracking of a corporation's registration and location status. This integration of corporate and tax compliance will save time, effort, resources and unnecessary mistakes due to incomplete or old corporate data, as well as saving the time and energy required to configure and update a corporation's taxability manually.

"Sarbanes-Oxley significantly expanded U.S. securities law regulation of corporate governance, disclosure, reporting and accounting requirements, and penalties," says Jeff Westphal, President and CEO of Vertex. "Companies today require better documentation of internal controls and processes as well as consistent systems, standards, and across-the-board reporting. The alliance between Vertex and CSC will allow us to provide customers with web-based solutions that combine entity management services with tax compliance solutions, making it easier for companies to respond to the new standards of corporate accountability."

Vertex Inc., the leading provider of tax technology solutions, serves more than 10,000 customers worldwide. Vertex technologies and services help companies streamline tax compliance processes, as well as leverage information to discover new strategic tax savings that enhance decision information across every major line of business tax including income, sales, consumer use, value added, communications, and payroll. To serve its customers, Vertex works in partnership with leading software and service providers, including SAP, Oracle, Microsoft, IBM and PeopleSoft. Founded in 1978, Vertex is a privately held company that employs 600 professionals at its headquarters in Berwyn, PA and offices in Atlanta, Chicago, Dallas, Sarasota and Washington, DC.

For more information about the CSC/Vertex alliance and how your company can benefit, contact Andrea Unterberger (CSC) at 302-636-5401 or aunterbe@cscinfo.com, or Jane Frankel (Vertex) at 484-595-6094 or jane.frankel@vertexinc.com.