SOURCE: Sabrix, Inc.

January 31, 2008 08:07 ET

Sabrix Announces 2007 Milestones

New Customer Acquisition and Customer Retention Continue to Fuel Growth

SAN RAMON, CA--(Marketwire - January 31, 2008) - Sabrix®, Inc., a leading provider of transaction tax management solutions for companies of all sizes, announced solid growth with an 85 percent increase in new customers for the year ending December 31, 2007. The roster of large enterprises that trust Sabrix to support their transaction tax management needs now includes four of the top 15 in the Fortune 500 and five of the top 15 in the Fortune Global 500. In addition to its continued adoption by the world's largest multi-national corporations, the company also added a host of new small-to-medium-sized businesses to its growing roster of customers via its outsourced sales and use tax compliance service, the Sabrix Managed Tax Service™ (MTS). The company's growth was also buoyed by extremely high customer retention numbers and annual recurring revenues, which accounted for 36% of the company's revenue for the year.

"We were very pleased with Sabrix's overall performance in 2007," said Joe Mullen, Sabrix board member and chairman of Bottom Line Technologies (NASDAQ: EPAY). "In the recent history of enterprise software, only a handful of companies have been able to successfully deliver traditional, on-premise software to large enterprises as well as on-demand services to small and mid-sized companies, and all on a single code line. Sabrix joined that elite list in 2007, which is a testament to the company's operational focus, its go-to-market skills, and its ability to assure that customers enjoy a high degree of compliance at low costs."

Other notable highlights from the year include:

--  Strategic alliances with leading tax services firms, Deloitte Tax LLP
    and Ryan, 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.
--  A partnership with OpSource for SAS 70 Type II certified hosting of
    its sales and use tax compliance service, ensuring that all Sabrix MTS
    clients are afforded the highest level of security, availability, and
    reliability available in on-demand applications.
--  The unveiling of the Sabrix Application Suite v5.0, the industry's
    most comprehensive and accurate solution for global consolidated
    transaction tax management.  With its new functionality specifically
    designed to support VAT, excise and specialty taxes, the new release
    enabled tax professionals to easily support the transaction taxes that
    matter most -- quickly, efficiently, and without any programming.
--  Successful completion of a SAS 70 Type II audit of Sabrix Tax
    Research, the company's tax information services division that supports
    both the Sabrix Application Suite and the Sabrix Managed Tax Service, and
    demonstration of the company's ongoing commitment to SOX-compliant,
    outsourced financial processes.
--  The first tax automation vendor to provide an immediate and fully
    automated solution for the 1 June U.K. Reverse Charge VAT law, enabling
    customers to respond quickly to the ever changing VAT landscape.
    Significantly expanded international tax research to cover some of the
    world's most challenging countries, including India and Brazil.
--  An announcement that General Electric Company successfully implemented
    the Sabrix Application Suite for sales, use, and value-added tax management
    in seven businesses that span over 50 countries, reflecting the company's
    industry stature as a trusted platform for U.S. and global deployments.

"At the end of 2007, we find ourselves once again very appreciative of the thought leaders in tax and finance -- both customers and partners -- who have entrusted us with helping them achieve a high degree of compliance, better and timelier tax decisions, and faster and more consistent business results," said Steve Adams, president and CEO of Sabrix. "In 2008, we will continue to focus on a high degree of satisfaction among our customers and partners, and we will maintain our commitment to deliver the industry's most innovative and complete transaction tax solutions for companies of all sizes."

About Sabrix, Inc.

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, 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

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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