Vertex has acquired ecosio to accelerate its global e-invoicing compliance capabilities.

Date – 07-Aug-2024

Vertex, Inc., a global leader in tax technology solutions, has announced its acquisition of ecosio, a top provider of B2B integration services specializing in electronic data interchange (EDI) and e-invoicing. The acquisition, which is subject to the usual regulatory approval in Austria, aims to create a seamlessly connected global platform for managing continuous compliance.

This acquisition aligns with a shared vision to accelerate global commerce by providing a single, scalable platform for automating business transactions, managing indirect tax reporting, and ensuring e-invoicing compliance. As real-time and near real-time digital tax reporting mandates become increasingly common, e-invoicing is evolving into a critical requirement for businesses operating across multiple jurisdictions worldwide.

By integrating ecosio’s cloud-based, scalable global network with Vertex’s leading indirect tax solutions, customers will be able to efficiently create, exchange, and clear jurisdictionally compliant e-invoices while seamlessly reconciling these invoices with periodic filing requirements. This combined solution will help companies overcome the challenges of geographic expansion and enhance the efficiency of their compliance and reporting operations.

“Vertex has been a pioneer in the field of indirect tax for over 40 years, continuously evolving to seize new growth opportunities for our world-class customers,” said Vertex CEO David DeStefano. “With ecosio’s advanced technology and their team’s extensive e-invoicing and EDI expertise, we are committed to delivering a global compliance solution that simplifies the complexities of both e-invoicing and VAT. E-invoicing is rapidly becoming one of the most significant challenges facing global businesses, and with new requirements on the horizon in several large economies, this acquisition is a logical next step for Vertex to unlock additional value for our customers.”

The proliferation of VAT reporting requirements and e-invoicing mandates across Europe and globally has made continuous compliance increasingly challenging for businesses. The combination of Vertex and ecosio will create a comprehensive global solution, offering reliable, end-to-end indirect tax reporting and Continuous Transaction Controls (CTC) capabilities to minimize the risk of noncompliance. This partnership will streamline the entire compliance lifecycle, from tax determination and periodic reporting to complex CTC requirements and automated B2B communication.

“This partnership with Vertex is a strategic move that will significantly enhance our ability to deliver exceptional value to our customers,” said ecosio Managing Director Christoph Ebm. “Our shared vision for the future and commitment to growth make this collaboration an ideal fit. By combining our complementary products and values, we’ll create new opportunities and expand our global reach.”