Thanks For Sharing Your Success Stories
Thanks to our customers and partners that have submitted their projects for the 2017 Innovation Awards. We are currently reviewing the entries and selecting the 2017 winners. Check back soon to see the 2017 Innovation Award winners.
2016 Innovation Award Winners
The 2016 Vertex Innovation Awards recognized six companies for technology innovation: ALDI Inc., Best Buy Co., Inc., Johnson & Johnson, Koppers Inc., The Coca-Cola Company and USAA.
2016 People's Choice Awards Winner
Many nominees. Six finalists. One company voted as the “People’s Choice.”
Conference attendees awarded Best Buy Co., Inc. the People's Choice Award for innovation and inspiration for their approach to tax management using Vertex solutions.
Best Buy Co., Inc.
Tax solutions that ‘check out’ for consumer electronics retailer
Winner for use of Vertex Indirect Tax O Series
Best Buy is a Fortune 100 multinational consumer electronics retailer focused on providing expert service at unbeatable prices. The retailer’s focus on innovative offerings to meet and anticipate customer needs for blending technology, service and content produces tax challenges. Best Buy attacked these challenges head on with a holistic and agile tax solution.
Innovation at Work
As Best Buy executes its strategic growth agenda, it has faced interesting tax challenges: When a customer purchases a mix of products and services, how could Best Buy associate related items and alter a tax calculation based on that grouping—while maintaining individual products’ tax characteristics when those products are sold alone? With the need for numerous beyond-the-basics tax attributes, how could the retailer orchestrate the collection and application of that data without compromising cross-channel efficiency and scalability? And, in the face of dozens of procurement channels—each with unique business processes—how could it automate governance and error resolution?
Collaborating with Vertex, Best Buy’s Tax team identified and implemented solutions that address those and related challenges. The company’s Solution Master is a custom cart analysis tool that monitors brick-and-mortar transactions to identify and resolve complex tax relationships. The solution analyzes multi-item product relationships and determines how they impact tax determination. With this configurability, Best Buy can continually create new rules that trigger a live-call to Vertex.
Best Buy also implemented the Tax Integration Service as a “hub” for compiling all critical inputs required for accurate tax determination across Best Buy’s sales channels. It simplifies management and maintenance of all information flowing into Vertex via a single control point while streamlining projects and decreasing the cost for future platform enhancements. Finally, Best Buy implemented Vertex Tax Links Integration with Oracle—a use tax solution focused on creating tax governance opportunities complemented by a highly configurable, scalable and maintainable solution.
In Their Words
“The Vertex solutions have minimized Best Buy’s tax liabilities, reduced future IT integration costs, provided a single integration point to Best Buy’s tax service and enabled Tax to react quickly to the company’s strategic growth offerings. Most importantly, these solutions empowered Tax to better support the business in its mission to grow revenue and enhance the customer experience.” –Jessica Nowlin, Senior Director, Indirect Tax