SAP Users Can Now Optimize Tax for Goods Movement Using Sabrix
New Sabrix Application Manages Tax Determination of Post-Purchase Transactions for SAP R/3 Users
SAN RAMON, Calif. - September 29, 2005 — Sabrix™, Inc., the leading provider of Consolidated Transaction Tax Management™ applications, today announced the release of Sabrix Tax for SAP Goods Movement, a new application to help SAP R/3 users to determine, calculate and record tax related to goods movement transactions, such as the purchase and subsequent distribution of supplies to various tax jurisdictions for multiple purposes. With Sabrix, SAP users can now improve their use tax determination for consistent accuracy, and optimize the timing of tax accruals for purchased products to improve cash flows.
Companies that determine tax at purchase time may face over-taxation and the premature commitment of cash when product usage and related tax is determined by a later goods movement transaction. Sabrix's new application allows companies to select different goods movement options for transactions recorded in SAP to determine use tax liabilities. The tax professional can also simulate the results of different post-purchase transactions to efficiently manage tax policies and their impact before the results are posted to the SAP general ledger. Companies that may have previously performed manual and resource-intensive analysis of some or all of their goods movements for tax determination can consistently and efficiently automate the process with Sabrix, freeing up tax professionals for higher-level tax management activities.
"Committing cash reserves too early, or overestimating tax liabilities can be an unnecessary financial burden when cash management is critical for most every company," stated Steve L. Adams, president and CEO of Sabrix. "Sabrix is committed to helping companies manage compliance and optimize cash flows related to sales, use and VAT taxation. This new goods movement application helps SAP users that currently have no accurate solution for use tax determination related to post-purchase goods movement."
Standard SAP tax processing does not include functionality for computing and recording tax on post-purchase goods movement transactions. The Sabrix Tax for SAP Goods Movement application uses the SabrixConnection™ for SAP, a SAP certified product already used by a number of Global 2000 companies, to integrate with the SAP R/3 system. This close integration allows companies to assess and report the appropriate tax at every point in a transaction's lifecycle. Sabrix also provides fast, accurate use tax results and a complete audit trail for tax and regulatory compliance for consistent control over all tax-impacted transactions.
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