Sabrix Unveils the Industry’s Most Comprehensive and Accurate Solution for Global Consolidated Transaction Tax Management
Sabrix extends its leadership in the transaction tax industry by defining the next level of tax accuracy, control and efficiency
Orlando, FL — June 26, 2007 — At the Institute of Professionals in Taxation Conference today, Sabrix, Inc. introduced the Sabrix Application Suite™ version 5.0 with more than 30 new features and enhancements added to its global Consolidated Transaction Tax Management™ solution. With the Sabrix Application Suite, companies with even the most complex tax issues can attain the highest level of tax accuracy, control and efficiency available on the market today. The Sabrix Application Suite version 5.0 will be generally available on June 30th.
“Sabrix has redefined the market with its latest functionality specifically designed to support VAT, excise and specialty taxes,” said Diane Yetter, President at Yetter Consulting Services, Inc. “I am impressed with how easily tax professionals can support the transaction taxes that matter to their company, quickly, efficiently, and without any programming. With the introduction of the latest version of the Sabrix Application Suite, Sabrix has once again raised the bar on what customers can expect from a transaction tax management system and vendor.”
What’s New in the Sabrix Application Suite
The major enhancements to Sabrix's latest Consolidated Transaction Tax Management solution include:
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Expanded Solutions for VAT and International Taxes
– Sabrix bolsters its existing capabilities with new ways to manage VAT and other international transaction taxes. The company provides the most accurate and complete tax research by delivering timely updates to global rates, product rules, cross-border logic, place-of-supply logic, and country, state/province and lower-level law changes that impact over 150 countries. From the Aegean Islands to Zimbabwe, Sabrix enables on-time compliance to global tax law changes including amended tax laws in existing and new EU member countries. Sabrix was the first software vendor to provide a solution for the June 1, 2007 reverse-charge VAT law in the U.K. In addition, Sabrix supports the most complex international transaction tax scenarios, including Brazil and India, providing true consolidated transaction tax management. -
New Excise and Specialty Tax Functionality
– Sabrix is first to market functional support for excise and specialty taxes such as oil and gas, alcohol and tobacco, beverage and bottle, environmental and pollutant, battery and tire, as well as fees for recycling and disposal. In addition, Sabrix has added several enhancements to make it even easier to manage this group of taxes, which impact more than 90% of all businesses. These enhancements include rule qualifiers and other tools to simplify common tasks, as well as features that support dependant product taxability, advanced date determination logic and rules, expanded and custom delivery terms, and unit of measure and currency conversions. -
New Reporting Console
– SabrixReportsTM, the new Sabrix Reporting Console, serves the global informational needs of tax professionals with the industry’s most flexible reporting architecture and includes both standard and custom global and domestic tax reports addressing Europe, Asia Pacific, North America, Latin America, the Middle East and Africa. Data is easily downloaded into familiar tools such as Excel for additional data mining and analysis. In addition, Sabrix's robust audit data can now be integrated with leading data warehouse solutions allowing customers to utilize tax specific data for other business needs.
“Sabrix’s mission is to put tax departments in full control of transaction tax determination, calculation, reporting and planning, and give them the flexibility to do it according to their unique business processes,” said Steve Adams, CEO of Sabrix. “This latest software release is the largest in our company’s history. We’ve made the application even easier to use and have set a new standard for tax accuracy, control and efficiency for our industry. We especially thank our global customers and partners for their input that helped us deliver the most robust solution for transaction tax compliance on the market today.”
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