SOURCE: Sabrix, Inc.

December 02, 2008 08:00 ET

Sabrix Managed Tax Service Leads the Industry With Most Comprehensive SAS 70 Type II Certification

Certification of Sabrix Returns Process Completes Final Step in Sabrix MTS Type II Certification and Delivers Compliance With Confidence for Outsourced Sales and Use Tax

SAN RAMON, CA--(Marketwire - December 2, 2008) - Sabrix, Inc., a leading provider of transaction tax management for companies of all sizes, announced today the SAS 70 Type II certification of its Sabrix Managed Tax Service (MTS) returns service. Building upon Sabrix's existing SAS 70 Type II certification for tax research and hosted operations, Sabrix MTS now offers the most comprehensive SAS 70 Type II certification in the industry for outsourced sales and use tax compliance service. Finance executives of small- and mid-sized companies can achieve compliance with confidence by outsourcing tax compliance processes to Sabrix MTS' tax experts, proven software, and best practices to minimize the hassle, reduce the costs, and limit audit exposure of sales tax compliance.

The SAS 70 Type II certification provides Sabrix customers with independent auditor validation of the procedures and controls in place within Sabrix's tax research coverage of 13,253 authorities, its returns preparation and review by tax experts, as well as its hosted operations for the Sabrix tax engine. The certification demonstrates Sabrix's continued commitment to operate as a trusted partner who meets the rigorous operational controls associated with Sarbanes-Oxley compliance.

"Our clients value the ability to completely outsource their tax compliance burden to our team of tax experts, but they also need the assurance that our research, technology and processes will deliver the highest degree of compliance and meet SOX requirements," said Carla Yrjanson, VP Tax Services for Sabrix. "Our comprehensive SAS 70 Type II certification delivers the independent validation that allows CFOs to rest assured that they are meeting their legal obligation for tax compliance. Any business working with outsourced service providers should require these types of validations and controls."

Sabrix MTS allows companies to outsource their sales and use tax compliance process to highly skilled tax experts using a trusted tax platform that currently powers over $1.7 trillion in transaction taxes for companies of all sizes, including many Global 2000 leaders. Acting as an extension of a company's finance department, Sabrix MTS minimizes the hassle, reduces the costs, and limits audit exposure. The service addresses the complete tax management process, including nexus determination, address validation, tax rate maintenance, determination and calculation, signature-ready return preparation as well as audit research and documentation. And, Sabrix MTS is designed to integrate with leading financial systems like MS Dynamics GP, MS Dynamics NAV, SAP R3, SAP All-in-One, SAP Business One, Oracle and ecommerce systems with no disruption to existing business processes.

Sabrix MTS is available as a subscription service, allowing companies to pay based on their usage. More customer case studies and other information are available online: http://www.sabrix.com/smb/solutions/

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.

Sabrix, Sabrix Managed Tax Service, and Consolidated Transaction Tax Management are trademarks of Sabrix, Inc. All other company and product names are trademarks or registered trademarks of their respective holders.

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