Asure Software, Inc. (Nasdaq: ASUR) and Vertex, Inc. (NASDAQ: VERX) have formed a strategic partnership. This partnership intends to provide Payroll Tax Management services throughout the U.S. enterprise marketplace. It brings together the technology for calculations provided by Vertex along with Asure’s infrastructure for compliance.
This integrated solution provides tax calculation, submission, payment, and W-2 generation. It includes agency notification management and interaction with thousands of tax agencies that include the federal, state, and local government agencies.
For Asure, this partnership is an opportunity to create a new distribution channel. It can be used to increase its presence in the U.S. payroll tax compliance marketplace.
“This partnership has the potential to improve access to Asure Payroll Tax Management,” said Pat Goepel, Chairman and CEO of Asure Software. “Vertex has spent decades building sophisticated payroll tax calculation technology and relationships across the enterprise payroll ecosystem. Asure has built the infrastructure which sits along beside it moving the money, filing the taxes, managing W-2s, resolving notices and interacting with tax agencies. Bringing those capabilities together creates a compelling end-to-end payroll tax solution and another meaningful avenue for Asure to gain market share.”
Expanding Payroll Tax Management Through New Channels
The partnership creates various business pathways for both businesses. Firstly, Asure will present Vertex’s calculation capability along with its Payroll Tax Management service offering. Secondly, both companies intend to identify opportunities within the ecosystem of providers in the payroll and HCM space. They intend to leverage Vertex’s technology in addition to Asure’s customer connections. This may help the partnership secure more recurring clients.
Combining Tax Calculation and Compliance Expertise
Payroll tax calculation and payment processing should be done effectively and reliably by employers. Vertex has more than 45 years’ experience in taxes, and its payroll tax calculation software handles both U.S. and Canadian requirements through the cloud system. As for Asure, it offers filing, remittance, W-2, notice management, and communication with agencies.
Asure currently serves more than 100,000 companies and over two million employees across the country. It is important to mention that its big company clients have millions more employees.
Strengthening Asure’s Payroll Tax Market Position
This partnership brings Asure closer to an overall Payroll Tax Management solution. It also provides more opportunities via the payroll platform and enterprise solutions.
“Payroll tax is one of the most complex compliance obligations an employer carries, and the requirements change constantly across thousands of jurisdictions,” said Chirag Patel, Chief Strategy Officer at Vertex. “Vertex has spent decades helping organizations calculate payroll taxes accurately. Working with Asure connects that calculation expertise with filing and remittance, helping create a more seamless path from determining what’s owed to meeting those obligations.”
“The financial significance is not simply another referral agreement,” Goepel said. “It is about distribution. Every additional payroll platform, enterprise relationship and technology ecosystem that can connect to Asure PTM expands access. Our objective is straightforward: make Asure the infrastructure layer behind an increasing share of payroll tax filings and tax money movement in the United States.”
In the end, the organizations want to associate tax computations with downstream compliance services. The combined competencies may aid enterprises in handling payroll tax requirements more effectively.
Explore HR Tech News for the latest advancements in Human Resources Technologies and insightful updates from industry experts!
News Source: GlobeNewswire.com
