RIA AND SABRIX SIGN RESELLER AGREEMENT
Partnership Allows RIA to Offer Small-to-Medium Businesses an End-to-End Solution for Tax Automation
SAN DIEGO – November 8, 2004 — RIA, a Thomson business and the premier provider of technology and information to tax professionals, today announced that the company has entered into a reseller agreement with Sabrix, Inc. to market, sell and support the Sabrix Application Suite. RIA will bundle the Sabrix Suite with its own InSource® tax compliance products to provide customers an end-to-end solution for tax automation.
In 2003, RIA and Sabrix established a marketing partnership that resulted in the integration of the Sabrix Application Suite with RIA's industry-leading tax compliance software, InSource. Since that time, the two companies have jointly marketed and sold to Global 2000 companies with corporate revenues in excess of $1B. As part of this reselling agreement, RIA will now deliver the complete product suite to the small-to-medium business (SMB) market, targeting North American corporations with annual revenues of $100M and higher.
"Since we integrated our products in 2003, both companies have experienced growing demand for our combined offering," said Brian Peccarelli, Executive Vice President, Corporate Markets, Thomson Tax & Accounting. "While all companies need a world-class, end-to-end solution for sales and use tax automation, the demands of the SMB market are often to buy from and be supported by a single tax vendor. We are now positioned to meet this demand in our installed base of customers as well as new markets. The Sabrix product was the best way to meet those demands and maintain the high standards we have established for software and information products at RIA."
The seamless integration between Sabrix and InSource provides tax professionals the most comprehensive and innovative tax automation and compliance solution available. Sales and use taxes that are determined, calculated, and recorded in the Sabrix application are automatically populated in the InSource software, eliminating costly manual processes and ensuring timeliness and greater accuracy in tax returns processing.
"Thomson has a strong product portfolio, a great reputation in the industry, and an aggressive team committed to empowering tax professionals," said Steve L. Adams, president and CEO of Sabrix. "Too many industry partnerships are meaningless to customers. From the outset of this partnership, it’s been focused on delivering real value to real customers with real challenges in tax automation. At Sabrix, we’re committed to lowering transaction costs and improving financial transparency for all businesses --regardless of their size. This partnership gives us broader reach to do just that."
The complete product suite will be available from Thomson beginning January 1, 2005.
About The Thomson Corporation and RIA
The Thomson Corporation (www.thomson.com), with 2003 revenues from continuing operations of $7.44 billion, is a global leader in providing integrated information solutions to business and professional customers. Thomson provides value-added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. With operational headquarters in Stamford, Conn., Thomson has approximately 38,000 employees and provides services in approximately 130 countries. The Corporation's common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC). Thomson Tax & Accounting, as part of Thomson, is a leading provider of technology and integrated information solutions to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Thomson Tax & Accounting includes the Creative Solutions, Fast-Tax, Practitioner’s Publishing Company (PPC), RIA Compliance and RIA Information/Online businesses. For more information regarding InSource Sales & Use Tax, please visit InSource.Thomson.com or call 1-800-865-5257.
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