Sabrix Introduces FAST Track to Tax Compliance
San Ramon - CA, July 22, 2003 — Sabrix, Inc., a leading provider of enterprise tax applications today announced a special program for companies automating consumer use tax or international Value Added Tax (VAT). The FAST Track to Tax Compliance program is specifically designed for tax professionals who have historically deployed multiple tax engines for Sales Tax automation. The program enables them to replace existing sales tax automation solutions at no charge and enables tax technology departments to maintain a single, centralized solution for all sales, consumer use, and VAT taxes. Companies can take advantage of this program through December 2003.
Historically, tax departments have deployed multiple tax engines, one for every application that needs to determine and calculate tax, as well as separate tax engines for sales, consumer use, and VAT transactions. Customers who are interested in centralizing their sales tax automation can purchase the Sabrix Use Tax Manager or Sabrix Global Tax Manager application and qualify for this special offer. With the purchase of one of these applications from the Sabrix Application Suite, customers receive a Sabrix Sales Tax Manager license, one-year software maintenance, one-year tax research subscription for the United States and Canada, and migration services for sales tax automation, all at no charge.
"Tax and IT departments have had to maintain tax rates and rules, audit databases, and custom programming in multiple systems," stated Steve L. Adams, Sabrix president and CEO. The IT costs for maintenance have been high, and the manual synchronization of the tax data for reporting and audit administration has been cumbersome and expensive. That's why we're introducing an aggressive program to accelerate their move to a centralized platform. If the customer needs to automate use or VAT or both, they can do it and leverage the same system for their sales tax automation. They'll lower the cost of compliance, and they'll be well positioned to respond to the requirements of Sarbanes-Oxley."
The FAST Track to Tax Compliance program is ideal for companies who are actively centralizing their financial applications, such as Oracle 11i and SAP 4.6c/4.7 or upgrading their financial applications from one version to another, for example, from Oracle 10.7 to 11i.
According to AMR Research (July 2003), 65% of companies are evaluating ERP consolidation as the solution, and the highest priority, to ensure their companies are Sarbanes-Oxley 404 compliant. In addition, companies are investing now in the underlying technologies that will underpin real-time financial reporting to meet future requirements.
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