Sabrix and Deloitte Tax LLP Formalize Strategic Alliance in Transaction Tax Compliance Market
Alliance Provides a Combination of Transaction Tax Management Software and World-class Implementation and Consulting Services
San Ramon, CA October 17, 2007 —Sabrix®, Inc., a leading provider of transaction tax management solutions for companies of all sizes, and Deloitte Tax LLP (Deloitte Tax), a subsidiary of Deloitte & Touche USA LLP, one of the nation’s leading professional services firms, today announced the formation of a strategic alliance to provide transaction tax management software and services for customers worldwide. Deloitte Tax and Sabrix have historically worked together to help finance, tax, and IT professionals achieve accurate, timely, and cost-effective compliance for sales tax, use tax, value added tax (VAT), excise tax, and industry-specific taxes. The alliance is now being formalized to offer joint clients an integrated and innovative combination of Deloitte Tax’s implementation and tax consulting services with Sabrix’s industry-leading Sabrix Application Suite and to respond to growing demand from customers who need a transaction tax compliance solution.
“With a strong customer base across multiple industries in the Global 2000 and a solid record of delivering best-of-breed software and world-class tax research, Sabrix is a leader in the consolidated transaction tax management market,” said Mark Lazzaro, a Deloitte Tax partner and leader of its Tax Management Advisory Services practice. “Deloitte Tax has a proven methodology that provides the framework and tools critical to the execution of a successful Sabrix project and builds on the system integration experience of our team. We can explore with clients a complete end-to-end solution to address their transaction tax compliance needs, from the simplest to the most complex of requirements and from U.S. to global requirements.”
“The available functionality within Sabrix enabled us to meet our business needs. In addition, the support we received from Deloitte Tax's experienced technical team allowed us to maximize the Sabrix functionality and resulted in a successful implementation,” said Leslie Fox, project lead for Transaction Tax Automation of EDS Global Tax Services.
As global business continues to increase in complexity and governments gain sophistication in their tax collection practices, the demands on corporate tax professionals to keep pace and effectively control transaction taxes are greater today than ever before. Corporations are challenged with complex global tax transactions that cross multiple U.S. and international jurisdictions, constantly changing rates and rules, and increasing exposure to penalties. The Sabrix Solution is the leading global, centralized transaction tax management system and supports over 170 countries. A single instance of Sabrix connects to all business applications, worldwide, that require the determination, calculation, and recording of transaction taxes. The Sabrix Solution provides a single transaction tax software system and audit database with distributed management and control for tax professionals.
“Deloitte Tax has a wealth of knowledge and experience in helping its Global 2000 clients implement Sabrix solutions,” stated Steve L. Adams, president and CEO, Sabrix. “Customers can leverage Deloitte Tax’s implementation experience and tax knowledge when deploying the Sabrix Application Suite and, thereby, mitigate their deployment risks and enjoy a much quicker time-to-value for their tax compliance solution. We are pleased that we can formalize this alliance and extend the value of our relationship to our customers.”
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names “Deloitte”, “Deloitte & Touche”, “Deloitte Touche Tohmatsu” or other related names. Services are provided by the member firms or their subsidiaries or affiliates and not by the Deloitte Touche Tohmatsu Verein. Deloitte & Touche USA LLP is the US member firm of Deloitte Touche Tohmatsu. In the US, services are provided by the subsidiaries of Deloitte & Touche USA LLP (Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Financial Advisory Services LLP, Deloitte Tax LLP and their subsidiaries), and not by Deloitte & Touche USA LLP.
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