Genpact and Sabrix Form Alliance to Offer Dynamic Global Finance Solutions to Oracle® E-Business Suite Customers
Genpact selects Sabrix Application Suite for AppreadySM platform to offer enterprise-class, consolidated transaction tax management solution
NEW YORK and SAN RAMON, Calif. (October 17, 2006) — Genpact, a global provider of high-quality business and technology services, and Sabrix™, Inc., the leading provider of Consolidated Transaction Tax Management™, announced a strategic alliance to provide rapid-deployment transaction tax compliance solutions for OracleŽ E-Business Suite customers. Under the alliance, Genpact will implement the Sabrix Application SuiteTM within Oracle environments using its Appready platform to help reduce risk and cost for Global 2000 businesses. The combined solution empowers corporate tax professionals, giving them more visibility and control over global transaction tax, reducing compliance costs, facilitating strategic planning, and minimizing risks and exposures.
Building on proven success in joint deployments, Genpact's offering will accelerate implementation of Sabrix's full suite of sales and use tax and VAT compliance solutions for Oracle customers. Genpact's AppreadySM platform is a complete suite of rapid Oracle deployment solutions that include business processes, integration software, conversion tools, training courses, testing scripts and third-party products, which can be tailored to multiple industries including manufacturing, service industries, and financial services. The platform also includes a global accounting model within the Oracle E-Business Suite for 38 countries. Sabrix is a Certified Partner in the Oracle PartnerNetwork, and its product line will be integrated into all Genpact industry models.
With 26,000 process and IT associates, Genpact currently serves all six of GE's businesses, ranging in size from $15 billion to $42 billion in annual revenues, and an additional 18 Global 2000 customers. Genpact, a Certified Partner in the Oracle PartnerNetwork, is one of the world's largest Oracle E-Business Suite solutions providers with over 3,000 associates implementing, supporting and using the Oracle E-Business Suite to manage business processes.
"With this partnership, Genpact will continue our successful track record of meaningfully impacting the financial compliance processes of global customers through automation," said Steve Jolly, vice president of Oracle Solutions at Genpact. "Our GE heritage gives us a strong understanding of global accounting and tax requirements in Oracle environments. After conducting a Six Sigma review of available transaction tax software solutions, we concluded that Sabrix's combined success in both simple and complex transaction tax environments makes them the undisputed vendor of choice for our customers."
"As one of the leading financial outsourcing providers, Genpact has emerged as a thought leader in the Oracle E-Business marketplace," added Steve L. Adams, president and CEO of Sabrix. "We are pleased to align with Genpact to augment their solutions for Global 2000 Oracle environments with our consolidated transaction tax management software and global tax research for an innovative tax compliance solution. This is an exciting market opportunity, offering tremendous financial and performance value to both existing and new Oracle customers across all industries."
Both companies will be exhibiting at Oracle OpenWorld from October 22-26, 2006 at Moscone Center West in San Francisco. Learn more about the joint offering during the Genpact/Sabrix presentations at Genpact's booth #3430.
About Genpact:
Genpact drives process improvements to help global enterprises improve their revenue, margins, speed, and customer relationships. Principally owned by GE, General Atlantic, and Oak Hill Capital Partners, Genpact has 26,000 highly skilled associates specialized by industry (banking/finance, insurance, manufacturing, transportation, automotive, and business services) and by the impact areas they serve (finance & accounting, sales & marketing analytics, customer service, financial services collections & operations, supply chain & procurement services, aftermarket services, information technology services, and enterprise application services & program management). With a direct sales network spanning Europe, North America and Asia, Genpact has operations centers across India as well as in China, Hungary, the Philippines, Poland, Romania, the United States and Mexico. For more info: www.genpact.com
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.
About the Oracle PartnerNetwork:
Oracle PartnerNetwork is a global business network of 17,700 companies who deliver innovative software solutions based on Oracle software. Through access to Oracle's premier products, education, technical services, marketing and sales support, the Oracle PartnerNetwork program provides partners with the resources they need to be successful in today's global economy. Oracle partners are able to offer to their customers, leading-edge solutions backed by Oracle's position as the world's largest enterprise software company. Partners who are able to demonstrate superior product knowledge, technical expertise and a commitment to doing business with Oracle can qualify for the Oracle Certified Partner levels.
Trademarks:
Oracle, JD Edwards, PeopleSoft, and Siebel are registered trademarks of Oracle Corporation and/or its affiliates. Sabrix, Sabrix Managed Tax Service, and Consolidated Transaction Tax Management are trademarks of Sabrix, Inc.
For press inquiries:
Kurt Foeller
Foeller Communications
sabrix@foellercom.com