SOURCE: Sabrix, Inc.

August 05, 2009 08:00 ET

Sabrix Announces Increased Demand for Its Sales and Use Tax Solutions Despite Tough Economy

Multi-Billion Dollar Retailer Adopts Sabrix's Outsourced Service to Keep Operating Costs Down, While Complying With Dynamic Internet Sales Tax Mandates

SAN RAMON, CA--(Marketwire - August 5, 2009) - Sabrix, Inc., a leading provider of transaction tax management for companies of all sizes, today announced increased demand for its transaction tax solutions despite the tough economy as evidenced by a 66 percent quarter over quarter growth in customer acquisition in Q2 2009. The company also announced that a multi-billion dollar Internet retailer has adopted Sabrix MTS™, a complete outsourced service that combines an on-demand version of the same trusted tax platform used by leading global companies, combined with service from a multidisciplinary team of tax experts and SAS 70 certified processes.

Increasingly companies are looking for both a more efficient and effective way to manage their sales and use tax compliance, a legal obligation that is only getting more costly and complex due to increasingly aggressive auditing from state tax authorities and constantly changing tax laws in the current economic downturn. Whether starting with automation through technology, or the increasingly popular approach of outsourcing the entire function (people, process and technology), companies across the board are looking to avoid the operational headaches of remaining in compliance, while cutting costs.

"We continue to see companies of all sizes adopt our solutions," said Pam Kostka, SVP of Corporate Marketing, Sabrix. "The growing complexity of the sales and use tax process is causing the cost of compliance to skyrocket so more and more companies -- including large ones -- are electing to turn to an expert service provider like Sabrix."

The news comes at the heels of a recent Saugatuck Technology research piece (http://www.saugatech.com/618order.htm) that reveals that SaaS adoption and deployment plans remain strong despite the economic downturn in the US and overseas. The Saugatuck report also points out that large enterprises are more likely to adopt SaaS point solutions, such as in treasury or sales/use tax (e.g., Sabrix) over core infrastructure ones.

"The recent signing of a multi-billion dollar retailer to use Sabrix MTS, our outsourced service, adds to a growing roster of enterprise companies selecting an outsourced model over more traditional on-premise software solutions. The trend aligns with the recent findings from Saugatuck," added Kostka. "Large companies want to eliminate expensive and redundant internal costs, while still achieving compliance with confidence, just as much as small and medium businesses."

The company's outsourced service, Sabrix MTS, combines an on-demand version of the same trusted tax platform used by leading global companies, combined with service from a multidisciplinary team of tax experts and SAS 70 certified processes. Customers of Sabrix MTS benefit from the millions of dollars invested in technology, security, tax content and industry proven best practices for a simple subscription price. More customer case studies and other information are available online: http://www.sabrix.com/managedtaxservice.

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 Amazon.com, BASF, Cisco, DTE Energy, IBM 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 http://www.sabrix.com.

Sabrix, Sabrix Application Suite, Sabrix Managed Tax Service and Sabrix MTS are trademarks of Sabrix, Inc. All other company and product names are trademarks or registered trademarks of their respective holders.

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