Newest Release of Sabrix Application Suite Ensures Consistent Accuracy, Control, and Efficiency in Transaction Tax Management
Consolidated Approach Enables Companies to Reduce the Total Cost of Tax Compliance
SAN RAMON, Calif. - April 12, 2005 — Sabrix™, Inc., a leading provider of enterprise tax applications, announced its latest release of the Sabrix Application Suite, Version 4.3. The new Sabrix Application Suite provides a consolidated approach to managing sales, use, and value-added tax for a single application or on a global scale. This latest release includes improved configuration and automation features; more sophisticated tax determination; expanded international rates and rules; improved transaction history for audit management and support; and support for new database platforms.
Unlike tax calculators which connect to individual business applications, Sabrix's patent-pending Transaction Services-Oriented Architecture™ provides a consolidated approach to determine, calculate, and record any transaction-related tax-independent of the application, point in the transaction lifecycle, business entity, or location. With Sabrix, the complexities and inconsistencies of multiple systems, error-prone manual processes, and cost-intensive customizations are minimized or eliminated altogether.
"Last year was a tremendous year for the company as we grew 100 percent and more than doubled the number of customers we serve," stated Steve L. Adams, president and CEO. "That growth is a direct result of listening to customers, understanding their challenges, and delivering products that directly address those challenges. In this latest release, we've focused on higher degrees of accuracy for complex transactions, easier-to-use configuration capabilities, support for more of the database platforms that exist in IT shops, and perhaps most importantly, better tax policy and process management tools that will enable them to achieve lights out tax administration when it comes to SOX compliance."
Sabrix Application Suite 4.3
The latest version of Sabrix Application Suite provides new features and enhancements offering tax and IT professionals consistent accuracy, control and efficiency in transaction tax management. In addition to a number of other features, the new release includes:
- Multivariate precision for applying any combination of data and attributes, dynamically, to facilitate more accurate tax determination
- Improved change modeling and planning controls put directly in the hands of tax experts, enabling them to understand the impact of policy changes and ensure those policies work correctly
- Tools and wizards for simplified import and export of data, empowering tax professionals to handle configuration data for customers, certificates, and product categories without IT support
- Improved visibility into and documentation of each transaction, and the policy applied to the transaction, providing more detailed audit trails
- Enhanced documentation of tax codes for special tax rule triggers
- A new easy-to-use portal that provides easy access to tax updates and product information
- Enhancements to zone lookups that increase accuracy through more precise jurisdiction determination
- Enhancements to the Sabrix Tax Control Panel that further enable configuration without coding-no custom coding is required to update rates, rules, and policies when using Sabrix's patent-pending TransEditors™
- Improved efficiency and control for the tax professional through new cascading user roles that simplify user management across multiple companies and/or entities
- Improved search tools
- Thomson RIA InSource® compliance software integration enhancements to maximize additional tax code detail
- Support for IBM DB2/UDB v.8.1 and Microsoft SQL Server 2000 SP3
Availability
The Sabrix Application Suite Version 4.3, including integrated tax research for more than 11,500 U.S. jurisdictions and more than 130 countries, is currently available. For more information about Sabrix solutions, please visit www.sabrix.com, or call 1-866-4-SABRIX (U.S. and international) or + 44 (0)207 8876511 (in Europe).
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