Tax Professionals Move Closer to "Lights Out Tax Administration" with New Reporting Module from Sabrix
New Sabrix Module Addresses Critical Requirements of Managing Compliance
SAN RAMON, Calif.– June 1, 2005 — Sabrix™, Inc., the leading provider of Consolidated Transaction Tax Management™ applications, today announced the release of SabrixReports™, a new reporting module that addresses the growing demand for real-time information and reporting for sales, use, and value-added tax transactions. The new module provides users of the Sabrix Application Suite a wide-range of reporting capabilities enabling tax professionals to efficiently access information and generate reports that assist with internal corporate governance and tax compliance.
SabrixReports provides standard reports in three basic categories: utility reports that create a documented view of the company's specific tax system configurations; compliance reports that provide visibility into and an audit trail of transaction details; and tax data reports that document a company's custom rules and rates for product taxability, taxing authorities and product mapping. In addition, SabrixReports is built upon an open and extensible platform that enables the creation and management of company-specific transaction tax reports.
"In our latest release of the Sabrix Suite, we focused heavily on providing higher degrees of accuracy, easier-to-use configuration capabilities, and better tax policy and process management tools," stated Steve L. Adams, president and CEO of Sabrix. "Our goal was to move closer and closer to 'lights out tax administration' with regard to SOX compliance. SabrixReports will further enable us to achieve that goal by providing our users a simple way to create a documented view of their tax system, policies, and processes--a critical requirement for managing and ensuring compliance. Also, consistent with our goal to empower tax and IT professionals, tax professionals can simply download SabrixReports at no cost, and no IT involvement is required to take advantage of this new functionality."
SabrixReports is a separate module, allowing new reports to be added and managed by tax professionals independent of the Sabrix Application Suite, and like the Suite, SabrixReports requires only a standard Web browser to access and generate reports; that is, no special viewer download is required. Reports can be viewed in the Web browser or exported in a variety of formats, including HTML, PDF, CSV, and Microsoft Excel, all to meet the specific needs of tax and other finance professionals.
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