Cisco Selects Sabrix' Global Enterprise Tax Solution - Global Transaction Tax Solution enables Cisco Order Processes
SAN RAMON, CA - April 16, 2003 — Sabrix, Inc., a leading provider of enterprise transaction tax management software and world class tax research, today announced that Cisco (NASQ: CSCO), has selected Sabrix as their global transaction tax management solution provider.
With the explosion of the world wide web, Cisco is doing a significant amount of its business over the internet and had the requirement for real time global transaction tax determination, calculation and recording for all of their business needs, including purchasing and sales transactions globally.
Cisco and Sabrix completed a successful pilot in 2002 and Cisco will be rolling out The Sabrix System and Tax Research globally to support their enterprise requirements for compliance and to improve cash management. "The Sabrix System had given us the confidence that we will be able to handle the volume of transactions we have, and to streamline compliance on a global basis," said Glen Rossman, VP of Tax for Cisco.
Cisco is rolling out Sabrix's solution in conjunction with their global ERP solution Oracle 11i centralization effort. This enables Cisco, for the first time, to have automation for all transaction tax determination, calculation and reporting for its global transactions: order-to-cash, requisition-to-payment, inter-company and intra-company.
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