Calpine Selects Sabrix as its Centralized Solution for Sales and Use Tax
Calpine streamlines tax decisions, compliance for their energy centers and empowers the tax team with visibility and control
SAN RAMON, Calif. -- November 18, 2003 — Sabrix, Inc., a leading provider of enterprise tax applications, today announced Calpine (NYSE: CPN) has selected the Sabrix Application Suite for Sales and Use Tax and Sabrix Tax Research to standardize and centralize sales and use tax decisions and related compliance requirements. The Sabrix Solution has enabled Calpine's corporate tax team to lower the total cost of compliance and minimize risks and exposures through the centralized management of all indirect taxes.
Calpine's centralization project with Sabrix Sales and Use Tax Manager is being deployed in over 80 energy centers in 23 states in the U.S. and Canada. Previously tax decisions were decentralized and manually done in conjunction with Calpine's purchasing systems. Calpine is using Sabrix to automate purchase transactions for all energy centers, and now has a centralized solution and compliance database which helps them lower the total cost of compliance, and gives visibility and control to the corporate tax team.
The Sales and Use Tax Manager from Sabrix is integrated with Peoplesoft and all purchase transactions now call Sabrix for transaction tax determination, calculation and reporting. Calpine is able to control all tax decisions centrally, and ensure that all tax exceptions and exemptions are applied accurately. With a central compliance database in Sabrix, Calpine has reduced their compliance requirements both in effort and time, resulting in a real cost savings. The tax department is also able to do strategic planning and analysis on business decisions - and support historical and real time requirements for audits, while ensuring compliance on all transaction tax in the US and Canada.
"We are pleased with the Sabrix Application Suite and our new ability to have seamless integration with Peoplesoft for all transaction tax decisions," said Mohammed Alrai, Corporate Tax Manager at Calpine. "The Sabrix Solution has enabled us to have a centralized solution, with distributed access for our purchases in our energy centers with transaction tax automation."
Calpine is currently using the Sabrix Solution for all their purchasing in energy centers and has plans to use this for all sales transactions in the future.
About Calpine
Calpine Corporation is a leading North American power company dedicated to providing electric power to wholesale and industrial customers from clean, efficient, natural gas-fired and geothermal power facilities. The company generates power at plants it owns or leases in 22 states in the United States, three provinces in Canada and in the United Kingdom. Calpine is also the world's largest producer of renewable geothermal energy, and it owns approximately one trillion cubic feet equivalent of proved natural gas reserves in Canada and the United States. The company was founded in 1984 and is publicly traded on the New York Stock Exchange under the symbol CPN. For more information about Calpine, visit www.calpine.com.
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