Global Transaction Tax Management Issues Take Top Billing at Sabrix’s User Conference
Customers Exchange Best Practices on How Multi-national Companies Can Better Leverage Tax Strategies to Operate More Efficiently; Sabrix Names 2007 Customer Achievement Award Recipients
Napa, CA October 25, 2007 —Sabrix®, Inc., a leading provider of transaction tax management solutions for companies of all sizes, held its annual user conference this week at the Silverado Resort in Napa Valley, California.
The event was well attended by Sabrix's customer base, which includes transaction tax industry leaders in half of the Fortune Global 10 and more than 100 Global 2000 companies. A number of Sabrix customers presented at the event, including Education Management Corporation, Flowserve, Nortel and Northrop Grumman, as well as leading companies in consumer products, oil and gas, technology and retail.
Driving this year’s agenda were issues surrounding the need for companies to have a comprehensive, consolidated global approach to transaction tax management. Sabrix customers and other tax and technology experts shared insights on managing tax and enhancing financial performance as they deal with business trends such as offshoring, dynamic product development, Sarbanes-Oxley and other multi-national compliance requirements. Several of the customer presentations highlighted significant savings in future taxes, IT expenses, and audit and compliances costs that have been achieved due to a higher level of tax accuracy and operational efficiency when using Sabrix. Several customers also reported the increased ability of the tax department to enforce tax policy and tax decisions throughout their organizations.
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.
“The 2007 Sabrix User Conference offered a window into the future on how Global 2000 companies will evolve to become leaner, more competitive multi-national companies, and how they will leverage tax strategies and technology to achieve their goals,” said Steve Adams, president and CEO of Sabrix. “We are proud to provide this annual forum for the tax industry’s elite, which includes Sabrix customers and our tax and technology business partners, so that attendees gain valuable insight into current and future transaction tax directions for their companies.”
Sabrix Presents its 2007 Customer Achievement Awards
Also at the conference this week, Sabrix announced the winners of its 2007 Customer Achievement Awards in recognition of outstanding achievements using the Sabrix Application Suite. More than three dozen customers who deployed the Sabrix Application Suite in the past twelve months were eligible for the 2007 Customer Achievement Awards. Winners were selected by a panel of global tax and software deployment experts from Sabrix and leading tax consulting firms. Among the many nominations submitted both by customers and Sabrix Platinum Alliance partners, the following customers are this year’s award recipients:
Most Outstanding Enterprise Deployment – Sabrix implementations utilizing one instance of Sabrix to serve multiple systems, businesses entities, and geographies
- Winner: General Electric Company
- Honorable Mention: Texas Instruments
Most Outstanding Global Deployment – Sabrix implementations across multiple sites and national borders
- Winner: Nortel
- Honorable Mention: Hewlett-Packard
Most Outstanding ROI Case Study – Sabrix deployments resulting in quantifiable tax and business process benefits
- Winner: Valero
Fastest Project Implementation – Sabrix deployments with the shortest time span between design phase and go-live
- Winner: Flowserve
- Honorable Mention: Fair Isaac, Lenovo
“Our customers, in conjunction with partners, have always implemented Sabrix solutions to achieve outstanding results in transaction tax management,” said Gary Allen, founder and SVP of customer advocacy at Sabrix. “As the complexities of the global business environment and transaction tax management issues continue to increase, our customers can rest assured that we will continue to provide them with the tools and content to efficiently address their tax compliance needs.”
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