Sabrix Continues to Expand Roster of Customers and to Post Strong Growth
Software Company Delivers Consolidated Transaction Tax Systems to Some of Industry's Biggest Names in First Half of 2005
SAN RAMON, Calif. - August 24, 2005 — Sabrix™, Inc., the leading provider of Consolidated Transaction Tax Management™ applications, today announced that customer acquisition in the first half of 2005 reached its highest levels in the company's brief history. The company enjoyed approximately 115% growth over its customer acquisition numbers for the same period in 2004, continuing to fuel its market momentum in sales, use, and value-added tax (VAT) management software and services.
Following its recognition last year by Deloitte Technology as the eighth fastest-growing young technology company in the U.S., Sabrix continued to aggressively grow its customer base, counting amongst its new customers such thought leaders in tax as IBM, Caterpillar Financial Services Corporation, and others among the Fortune 500, along with progressive companies like Chick-fil-A, one of the largest privately owned restaurant chains in the nation. Some of the other new customers added to the Sabrix roster include:
- One of the world's largest automobile manufacturers
- One of the Fortune 500's largest diversified technology companies
- A national provider of cable, entertainment, and communications products and services
- A leading national retail supplier of pet products, services, and solutions
- A leading provider of electronic payment and risk management solutions
- A worldwide leader in flat-panel display systems
- A world leader in unified storage solutions
- The leading vacation property management company in North America
"The customer adoption of the last six months has been important for us and for our customers as we continue to build a leadership position in consolidated transaction tax management," noted Steve L. Adams, president and CEO of Sabrix. "We've had the opportunity to partner with two of the ten largest companies in the world, grow our roster of Fortune 500 companies, and satisfy the requirements of recognized leaders in many of the major industries here in the U.S. As a result, we've also been able to strengthen our product, our services, our support, and our company in general. We are honored that these companies have selected our consolidated approach to transaction tax management as the best way to automate and manage tax compliance."
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