News
Davis + Henderson announces partnership with tax solution provider, Vertex(R)
August 17, 2009
Toronto

Davis + Henderson, a leading solutions provider to the financial services industry and, through its Filogix division a provider of credit solutions for the retail lending, small business, commercial lending, equipment finance, mortgage and real estate industries, announced today its alliance with Vertex Inc., an industry leader in corporate enterprise tax solutions. The result of this collaboration will be an interface that integrates Davis + Henderson's Cyence credit lifecycle management solution with Vertex(R) Lease Tax O Series(R).

"We are pleased to forge an alliance with Davis + Henderson to develop this solution" said Doug Cohen, Account Executive for Strategic Alliances, Vertex Inc. "Working with a leader like Davis + Henderson has afforded us the opportunity to establish a mutually beneficial relationship that will provide a solid solution for our current and future shared customers."

Integration of Davis + Henderson's Cyence solution for credit lifecycle management with the Vertex Lease Tax O Series is a big plus for Davis + Henderson's Equipment Finance clients, as it eliminates the manual research necessary to be tax compliant. Tax calculations are consistently accurate, saving the client's time, money and resources. Productivity will increase as a result and the audit process will become smooth and seamless.

"Having a long list of satisfied clients, taxation expertise and global aspirations, made Vertex the perfect fit for this initiative" said Greg McIntosh, Davis + Henderson's EVP, Credit Solutions. "We needed a partner that had a similar focus in terms of placing client satisfaction at the top of their priority list, expertise in not just taxation but in leasing as well, and the ability to grow with us. Vertex was the obvious choice."

Davis + Henderson's Filogix division is currently in the process of implementing this solution for Key Equipment Finance, one of the largest bank held equipment finance companies in the United States. Key Equipment Finance will be the first of many Filogix Equipment Finance clients to take advantage of the solution.

About Davis + Henderson:

Davis + Henderson uses its market-leading capabilities to meet the evolving needs of the financial services industry in Canada, the United States, and abroad. Founded in 1875, the company today provides innovative programs to customers who offer chequing and credit card accounts, and a comprehensive array of technology-based solutions to support our customers' credit lifecycle management services.

Davis + Henderson's Filogix division is a leading provider of lending solutions to clients in the United States and Canada and Filogix technologies are used by industry leaders in retail lending, small business, commercial lending, equipment finance, mortgage and real estate.

Davis + Henderson Income Fund is listed on the Toronto Stock Exchange under the symbol DHF.UN.

For more information about Davis + Henderson, visit www.dhltd.com Information on Davis + Henderson's Filogix suite of products can be found at www.filogix.com.

About Vertex Inc.:

With more than 30 years of experience, Vertex Inc. is the leading provider of enterprise corporate tax solutions and process management services worldwide.

Vertex solutions help companies streamline and integrate tax provision and compliance processes, and leverage information to discover new strategic tax savings 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 the world's leading providers of ERP software and related services.

Founded in 1978, Vertex is a privately held company that employs more than 600 professionals at its headquarters in the U.S. (Berwyn, PA) and its offices in Europe (London), Atlanta, Chicago, Dallas, Phoenix, San Francisco, Sarasota, and Washington, DC.

For more information about Vertex, visit www.vertexinc.com.

About Key Equipment Finance

Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. The company focuses on four distinct markets:
  • businesses of all sizes in the U.S. (from small business to large
  • corporate);
  • equipment manufacturers, distributors and value-added resellers worldwide;
  • federal, provincial, state and local governments as well as other public sector organizations; and
  • lease advisory services for larger structured equipment needs including single investor and leveraged leases, securitizations, and structured debt.
Headquartered outside Boulder, Colorado, Key Equipment Finance manages a $13.5 billion equipment portfolio with annual originations of approximately $5.0 billion. The company has major management and operations bases in Albany, New York; London, England; Hong Kong, China and Sydney, Australia. The company, which supports clients in over 40 countries, employs 800 people worldwide and has been in the equipment financing business for over 35 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at www.KEFonline.com.

Cleveland-based KeyCorp (NYSE: KEY) is one of the nation's largest bank-based financial services companies, with assets of approximately $98 billion. BusinessWeek Magazine named Key the top bank in its Customer Service Champ 2009 edition, ranking Key 11th out of the top-25 companies that include many known for their customer service acumen. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit https://www.key.com/.

For further information: Greg McIntosh, EVP, Credit Solutions of Davis + Henderson, Limited Partnership, (416) 360-1777; Brigitte M. Geiss, Public Relations Specialist of Vertex Inc., (484) 595-6142, brigitte.geiss@vertexinc.com; Patricia Akins, VP, Corporate Development of Key Equipment Finance, (720) 304-1300, patricia.a.akins@key.com.