High Industries Taps Sabrix for Transaction Tax Management
Diversified Leader in Real Estate and Construction Consolidates Sales Tax and Use Tax with the Sabrix Application Suite
SAN RAMON, Calif. – June 20, 2006 — Sabrix, Inc., the leading provider of Consolidated Transaction Tax Management™ applications, announces High Industries, Inc., a fabricator and distributor of steel and precast concrete components and part of The High Companies family, has selected the Sabrix Application Suite to automate its sales tax and use tax management. High Industries selected Sabrix for its ease-of-use, ability to reduce the cost of compliance, and seamless integration with SAP.
High Industries needed a complementary best-of-breed sales and use tax system to consolidate tax management and improve decision-making on tax-related transactions for a major SAP implementation in its steel and precast concrete business units. High Industries will utilize the Sabrix Tax for SAP Goods Movement application to determine, calculate and record tax related to the purchase and subsequent distribution of supplies for construction projects in various tax jurisdictions.
"As a construction firm with manufacturing facilities in Pennsylvania, Ohio, and Illinois, it is time consuming and costly to continue to use our current method of calculating transaction taxes on the numerous jobs that are fabricated and erected each year. We need to track sales and use taxes in approximately 25 states where we do business, and the various taxing jurisdictions within those states," says Joel Weaver, senior tax accountant for High Industries.
High Industries will use Sabrix to build a centralized repository of all tax transactions and automate its transaction tax processes from invoice to tax return. With Sabrix's easy-to-use applications, High Industries can determine use tax liabilities with consistent accuracy and can optimize the timing of tax accruals for purchased products to improve cash flows.
"While Sabrix addressed our needs related to the SAP implementation project, Sabrix's overall functionality and consolidated approach made it the logical choice over competitive products—even over customizing SAP," says Bob Widdowson, director of IT for High Industries. "The Sabrix solution empowers tax professionals, eliminating the need for employees from purchasing and IT to be involved in sales and use tax process. Everything will be developed and managed by the tax department. These efficiencies and controls over tax, coupled with Sabrix's ability to track and report on all tax transactions, will reduce the total cost of managing our tax obligations and will allow us to focus on continuing to build our core construction business."
"The impact of strategic tax planning when dealing with large dollar purchases cannot be underestimated," adds Steve L. Adams, president and CEO of Sabrix. "Companies like High Industries can realize significant savings from not only improving tax processes to reduce the cost of compliance, but also from cash management. We look forward to a long-term partnership with the High Industries tax team and the IT team deploying SAP."
About The High Companies
The High Companies, based at Greenfield Corporate Center, Lancaster, Pennsylvania, celebrates its 75th anniversary in 2006. Founded in 1931, this family-owned company serves its customers through the following businesses: steel fabrication, erection, and distribution; precast concrete building systems; air-quality and safety consulting; industrial/commercial, multi-family, and retail development; brokerage, leasing, and asset and property management services; real estate investments; hotel ownership and management; architecture and construction. The High Companies operates 50 offices in 10 states. More information is available by visiting www.high.net.
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