Sabrix Announces Newest Release of Sales, Use and Value-Added Tax Application that Enables Unprecedented Response to Tax and IT Changes
Version 4.2 Improves Ease-of-Use for Corporate Tax Departments and Expands International Tax Support
SAN RAMON, Calif. - May 19, 2004 — Sabrix, Inc., a leading provider of enterprise tax applications, today announced its newest release of the Sabrix Application Suite for domestic sales and use tax and international Value-Added Tax (VAT), Version 4.2. The latest version of the Sabrix Application Suite focuses heavily on ease-of-use features that enable corporate tax professionals to respond quickly to changes in tax law, company-specific tax requirements, and broader financial business processes. The latest version of application software from Sabrix also enables IT professionals to respond quickly to the demand for new operational processes for tax visibility and control that result from ERP consolidation and from an increased focus on corporate governance.
For tax professionals, the Sabrix Application Suite Version 4.2 includes new configuration and automation features to reduce the dual burden of time and expense that is often required to maintain compliance. New capabilities include:
- Greater control and system configuration capabilities for tax professionals who must often interpret tax law and establish a consistent corporate position.
- Enhanced financial dashboard and reporting capabilities for planning, modeling, and optimization. For example, tax professionals who use Microsoft Excel to analyze tax data can save time and resources with new integrated filtering and macro capabilities.
- Automatic updates for tax research, providing tax professionals with a fully automated process they control based upon company requirements.
- A user-friendly tax rate finder for ad hoc viewing of tax rates based on a specific address or jurisdiction for both U.S. and international locations.
- Fully integrated tax research for 119 countries, including support for the latest tax law changes resulting from the addition of 10 new European Union member states.
- Expanded control over company-specific tax logic, rules and exemptions with Sabrix's patented TransEditors™.
"Tax professionals will feel truly empowered by this new release of the Sabrix application," said Diane Yetter, president of Yetter Consulting Services, Inc. "For example, they'll be able to automate processes that have been cumbersome, if not impossible, to automate in the past, such as configuring the system to collect voluntary use tax on a state-by-state basis, categorizing interstate sales as sales or use tax transactions based upon their own company requirements, or overriding transaction tax laws that may not be appropriate to their business. With this ability to easily configure the Sabrix Application Suite for unique company overrides and special handling, they'll recognize significant tax savings and enjoy a control and visibility that's often been difficult to achieve."
For systems integration partners and IT departments, the latest release of the Sabrix Application Suite includes expanded platform support, ease-of-installation, and industry leading performance and scalability. New features include:
- Expanded enterprise systems support, including support for Linux, IBM WebSphere Application Server, and Simple Object Access Protocol (SOAP).
- Enhanced implementation and maintenance tools for importing and exporting data, data conversion and integration tools for co-existence and integration with other business applications.
- Improved development tools for integration with SAP and Oracle E-Business Suite as well as other business applications.
- Breakthrough scalability and performance as demonstrated in recent benchmark tests for Linux and Oracle Application Server, demonstrating performance equivalent to more than 100 million transactions per day globally.
"The goal of this release was to rapidly bring product improvements to market based upon experience gained in the mission critical environments of our large, multinational corporate customers," says Steve L. Adams, president and CEO of Sabrix. "This latest version of the Sabrix Application Suite addresses what we, our customers, and our partners have learned about the demands for ease-of-use, ease-of-installation and implementation, and the ease-of- maintenance of an enterprise-wide, centralized tax management system. We've addressed the requirements in a way that can only be underpinned by the experience and expertise of our customers and partners, and we greatly appreciate their contribution to this release."
Availability
The Sabrix Application Suite Version 4.2 and Sabrix Tax Research for 119 countries are currently available. For more information about Sabrix solutions, please visit www.sabrix.com, or call 1-866-4-SABRIX (U.S.), or +1 925 543 0110 (international).
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