Tax technology solutions provider, Vertex, has announced the integration of its Lease Tax O Series with Alfa Start, a cloud-based system for auto leasing operations.
This marks the latest development in the relationship between the two companies, as they seek to better facilitate tax management and ease the complexities on lease and rental transactions for customers.
According to Vertex, the constant changes in rates and rules across jurisdictions, states and products creates a need for integrated software to calculate indirect taxes for all lease transactions. By utilising Vertex’s technology, Alfa Start customers are now able to automate tax for transactions throughout the life of the lease.
Furthermore, Alfa’s customers are now able to simplify exemption certificate management with Vertex’s O Series, reducing risk by automating the highly complex tax needs of lessors and creating a single digital data repository.
Simon Clark (pictured above), director of product and delivery for the Americas at Alfa, said: “Strengthening our relationship with Vertex helps us create a streamlined customer experience and futureproof asset finance programs. This new solution provides auto leasing companies with a unified platform tailored to their specific tax needs so they can focus on accelerating growth.”
Founded in 1990, Alfa offers a range of systems and consultancy services to the global asset and auto finance sectors. The company is perhaps best known for its Alfa Systems platform which supports both retail and corporate business for auto, equipment, wholesale and dealer finance, including leases, loans, originations and servicing.
Chris Jones, chief revenue officer at Vertex, added: “Leasing is one of the most complex areas of tax compliance. As more companies expand their leasing operations, our goal is to enable Alfa customers to make tax a seamless part of each transaction. Our technology on the Alfa cloud-native platform is another example of co-innovation in the auto finance space.”