YORK INTERNATIONAL SELECTS SABRIX' ENTERPRISE TAX SOLUTION FOR TAX AUTOMATION
Transaction Tax is Critical for HVAC&R Leader
SAN RAMON, CA - March 28, 2003 — Sabrix, Inc., a leading provider of enterprise transaction tax management software and world class tax research, today announced that York International Corporation, has selected Sabrix as their global transaction tax management solution provider.
As a global corporation, York International must ensure that the correct transaction tax is applied to every transaction, as errors can cost from seven to nine percent of the contract price - and with contracts valued in the range of millions of dollars, this can significantly impact the bottom-line. One of York's biggest challenges with this requirement is that they need a solution that will give them all of the information necessary, including up to 30 different data elements, to make the correct tax determination.
The Sabrix solution will enable York International to evaluate all the data elements required to determine tax and give them the ability to connect multiple applications with a single global enterprise transaction tax management solution.
"We selected the Sabrix Solution, to help us facilitate and meet our taxation requirements, because it will be able to take in an unlimited number of data elements to determine the appropriate tax, and handle the calculation and recording for us", said Vicki Smith, Director of Domestic Taxes, York. "We also need a solution that can easily integrate with our customer relationship management initiative, YorkConnect, an application planned to manage and support our growing service business. After studying the alternatives, Sabrix is the best solution to handle our enterprise requirements for global transaction tax and should work well with our current and planned ERP and CRM solutions."
In addition to Sabrix, York is receiving implementation support from the nationally known tax solution consultants Yetter Consulting Services, Inc. Yetter Consulting, a nationally known Sales Tax Solution Consulting firm, will be instrumental in helping York handle the tax configuration and research appropriate for the YorkConnect implementation. "Bringing the Sabrix Solution into York is key to handling the tax requirements for all transactions accurately and ensuring compliance for York", said Diane L. Yetter, President of Yetter Consulting.
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.
About Yetter Consulting
Yetter Consulting Services, Inc. (YCS) is a firm that focuses exclusively on its clients' needs regarding sales, use and miscellaneous state and local transaction taxes. Their services include: Sales Tax System Implementation, Taxability Analysis and Nexus Evaluation, Sales and Use Tax Audit Defense and Refund Claims, and Sales and Use Tax Training as The Sales Tax Institute. More information about Yetter Consulting Services is available at http://www.salestaxinstitute.com/yetter.html.
About York International
York International Corporation is a full-line, global manufacturer of heating, ventilating, air conditioning and refrigeration (HVAC&R) products. YORK is the largest independent supplier of HVAC&R equipment in the U.S. and a leading industry competitor internationally. The company's products are sold in more than 100 countries and has approximately 22,800 employees worldwide. More information about York is available at http://www.york.com.
For press inquiries:
Kurt Foeller
Foeller Communications
sabrix@foellercom.com