Sabrix and Thomson Tax & Accounting Team to Deliver End-to-End Solution for Sales and Use Tax Management
Sabrix Application Suite integrated with RIA's InSource Sales & Use Tax to provide complete sales and use tax solution for tax determination, calculation, recording, and filing
SAN RAMON, Calif. - December 9, 2003 — Sabrix, Inc. and Thomson Tax & Accounting's RIA Compliance business (RIA) announced today that the Sabrix Application Suite has been seamlessly integrated with RIA's industry-leading tax compliance software, InSource®. Sabrix is a leading provider of enterprise tax management applications, and RIA, a Thomson business, is the premier provider of technology and information solutions to tax professionals in accounting firms and corporations.
The seamless integration between Sabrix and InSource Sales & Use Tax software provides tax professionals in the U.S the most comprehensive and innovative tax automation and compliance solution available. Sales and use taxes that are determined, calculated, and recorded in the Sabrix application are automatically populated in the InSource software, eliminating costly manual processes and ensuring timeliness and greater accuracy in tax returns processing.
The Sabrix Application Suite, which has been implemented in Global 2000 corporations, seamlessly integrates with legacy financial applications and popular ERP systems to centralize tax determination for both domestic and international tax organizations. By providing the same seamless integration with InSource Sales & Use Tax, companies can initiate a financial transaction in legacy or ERP systems; have the Sabrix application provide all sales and use tax determination, calculation and reporting; and complete the tax filings with a direct connection to the InSource compliance software.
"Historically, tax professionals and their IT counterparts have had to piece together a number of products and supplement them with costly and time consuming manual processes in order to determine their taxes and file their returns," said Steve L. Adams, president and CEO of Sabrix. "When you combine the integration that we've done with RIA's premier compliance software and current Sabrix integration with financial applications, the tax business process is automated from end to end. Tax professionals as well as IT professionals are freed up to redirect their time and energy to more strategic tasks within their organizations."
"At RIA, we remain focused on enabling our corporate clients to leverage their investments in our tax compliance and filing software," said Brian Peccarelli, general manager for RIA Compliance. "By teaming with Sabrix, our enterprise-level customers have unprecedented visibility and control over their sales and use tax processes from the time the tax is determined to the time it is filed. Our customers also end up with a fully-reconciled compliance database for audit support and administration." As part of the Sabrix Application Suite, the connection to InSource Sales & Use Tax is included by Sabrix at no additional charge and is available immediately. InSource Sales & Use Tax is licensed separately from RIA Compliance.
About The Thomson Corporation and RIA
The Thomson Corporation (www.thomson.com), with 2002 revenues from continuing operations of $7.5 billion, is a global leader in providing integrated software and information solutions to business and professional customers. Thomson provides value-added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. With operational headquarters in Stamford, Conn., Thomson has approximately 43,000 employees and provides services in approximately 130 countries. The Corporation's common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
As part of Thomson Tax & Accounting, RIA Compliance(www.RIAHome.com) is the premier provider of technology and information to tax professionals in accounting firms and corporations, providing the industry-leading tax compliance software for even the most complex requirements and the most comprehensive and innovative tax research and information products available.
About Sabrix
Sabrix, Inc. is a leading provider of transaction tax management for companies of all sizes, enabling finance, tax, and IT professionals to achieve accurate, timely, and cost-effective compliance for sales tax, use tax, Value Added Tax (VAT), excise tax and industry-specific taxes and fees. The Sabrix Application Suite serves global enterprises such as Amazon.com, BASF, Cisco, DTE Energy, IBM, QUALCOMM, Sportsman’s Warehouse, and York International. The Sabrix Application Suite seamlessly connects to all financial applications requiring the determination, calculation, and recording of transaction taxes. The company also offers the Sabrix Managed Tax Service™ (MTS), an outsourced transaction tax compliance service that helps finance departments of small-and-medium-sized businesses eliminate the hassle, control their audit exposure, and reduce the total cost of sales tax, use tax, and VAT compliance. Sabrix MTS seamlessly integrates with a company’s existing accounting and e-commerce systems, and, similar to outsourced payroll services, operates as a trusted extension of a company’s finance department to address tax compliance from start to finish: address validation, tax rate maintenance, tax determination and calculation, returns preparation and filing as well as audit research and documentation. For more information, please visit www.sabrix.com.
For press inquiries:
Kurt Foeller
Foeller Communications
sabrix@foellercom.com