Sabrix Sets New Standard for Consolidated Transaction Tax Reporting
Latest Version of SabrixReports Delivers Real-Time Visibility for Audits and Eases VAT Filing
SAN RAMON, Calif. – September 12, 2006 — Sabrix™, Inc., the leading provider of Consolidated Transaction Tax Management™, announces the latest version of its tax-reporting module, SabrixReports™. This newest release from Sabrix greatly simplifies VAT compliance and addresses a growing market demand for real-time reporting across all transaction taxes. SabrixReports enables corporate tax professionals to generate a virtually unlimited number and variety of reports for complete audit visibility and business analysis.
SabrixReports features new country-specific, pre-configured VAT reports that facilitate the population of monthly and quarterly VAT and GST returns. The reports duplicate current tax returns for international tax authorities, including box and line numbers, text, amounts and totals, enabling tax professionals to quickly enter summarized data into forms for filing. SabrixReports supports VAT filing formats for a number of European and Asian countries, including complex tax returns for countries such as Germany and Greece.
New file extract capabilities within SabrixReports also broadly improve audit visibility and strategic decision-making by enabling tax professionals to pull transaction data from the Sabrix database into any corporate data warehouse. By providing this flexibility, SabrixReports more effectively supports data mining and analysis for business initiatives, such as internal audit, audit defense, and general business analysis. Combined with the enhanced VAT reporting capabilities, SabrixReports now provides the industry’s most powerful capabilities for reporting consolidated transaction tax data on a global scale for both corporate governance and tax compliance.
"Collecting transaction data to prepare returns, reassembling that data for audit support, and other tax reconciliation processes consume valuable time and resources," states Pam Kostka, vice president of product marketing for Sabrix. "The Sabrix Application provides a 'single source of truth' for tax data across the global enterprise, regardless of business entity or location. Now with SabrixReports, Sabrix users can take consolidated transaction tax management one step further by generating the consolidated reports necessary to make more informed decisions. With the improved visibility, those tax professionals can focus on tax planning activities as opposed to data collection and reconciliation. It moves them one step closer to ‘lights out’ tax administration."
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