DTE Energy Turns the Light on Use Tax with Sabrix
Energy Provider Centralizes Tax Management Across Many Operating Companies with Sabrix Application Suite
SAN RAMON, Calif. – November 11, 2004 — Sabrix, Inc., a leading provider of enterprise tax applications, announced it has been selected by DTE Energy (NYSE: DTE), a Detroit-based diversified energy company, to manage its U.S. consumer use tax. DTE Energy has many legal entities in its portfolio and plans to use the Sabrix Application Suite and integrated tax research across the enterprise.
To support its growth and increase operational efficiency, DTE Energy is centralizing its internal business applications. The Sabrix Application Suite, certified for SAP, will be integrated with DTE Energy’s SAP system for complete visibility and control for the entire procure-to-pay process. Procurement orders held within the SAP system are sent to the Sabrix Suite to automatically determine, calculate, and report on the appropriate consumer use tax owed on purchases. This integration and automation allows DTE Energy’s tax professionals to spend more time on tax planning and transaction modeling of key business decisions rather than management of tax tables and manual tax determination.
The Sabrix Application Suite and integrated tax research manages tax policy and rules across all of DTE Energy’s many operating companies in areas such as merchant power, industrial energy projects, energy trading, electricity, natural gas, coal, landfill gas, steam and chilled water. For DTE Energy’s tax and finance team and the chief financial officer, Sabrix’s financial dashboard provides real-time insight into transaction tax exposure across DTE Energy’s family of companies. Further streamlining of tax management for DTE Energy the Sabrix Application Suite’s integrated tax research, including complete data for the U.S., Canada and more than 125 countries, is automatically uploaded into the system monthly, and on an as-needed basis, for any state, county, jurisdiction or law change.
“Our vision is to simplify the complexities of tax compliance for companies like DTE Energy that are dealing with multiple geographies, and legal entities,” said Steve L. Adams, president and CEO of Sabrix. “Ultimately, automating transaction taxes improves cash management, the profitability of the corporation, and offers a seamless response to internal and external audit support and administration.”
DTE Energy is the latest in a growing number of organizations to deploy Sabrix, the most certified tax solution with SAP, for all transaction tax automation with SAP applications, including SAP R/3, mySAP CRM, and mySAP mobile client applications requiring the determination, calculation, and reporting of U.S. sales and use taxes and Canadian taxes. For more information about the Sabrix Application Suite or Sabrix integrated tax research call 1-866 4-SABRIX (for U.S.), or +1-925-543-0110 (for international). Information is also available online at www.sabrix.com.
About DTE Energy
DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its largest operating units are Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan, and MichCon, a natural gas utility serving 1.2 million customers in Michigan. Information about DTE Energy is available at www.dteenergy.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