SOURCE: Sabrix

June 01, 2005 08:30 ET

Tax Professionals Move Closer to "Lights Out Tax Administration" With New Reporting Module From Sabrix

New Sabrix Module Addresses Critical Requirements of Managing Compliance

SAN RAMON, CA -- (MARKET WIRE) -- June 1, 2005 --Sabrix™, Inc., the leading provider of Consolidated Transaction Tax Management™ applications, today announced the release of SabrixReports™, a new reporting module that addresses the growing demand for real-time information and reporting for sales, use, and value-added tax transactions. The new module provides users of the Sabrix Application Suite a wide range of reporting capabilities enabling tax professionals to efficiently access information and generate reports that assist with internal corporate governance and tax compliance.

SabrixReports provides standard reports in three basic categories: utility reports that create a documented view of the company's specific tax system configurations; compliance reports that provide visibility into and an audit trail of transaction details; and tax data reports that document a company's custom rules and rates for product taxability, taxing authorities and product mapping. In addition, SabrixReports is built upon an open and extensible platform that enables the creation and management of company-specific transaction tax reports.

"In our latest release of the Sabrix Suite, we focused heavily on providing higher degrees of accuracy, easier-to-use configuration capabilities, and better tax policy and process management tools," stated Steve L. Adams, president and CEO of Sabrix. "Our goal was to move closer and closer to 'lights out tax administration' with regard to SOX compliance. SabrixReports will further enable us to achieve that goal by providing our users a simple way to create a documented view of their tax system, policies, and processes -- a critical requirement for managing and ensuring compliance. Also, consistent with our goal to empower tax and IT professionals, tax professionals can simply download SabrixReports at no cost, and no IT involvement is required to take advantage of this new functionality."

SabrixReports is a separate module, allowing new reports to be added and managed by tax professionals independent of the Sabrix Application Suite, and like the Suite, SabrixReports requires only a standard Web browser to access and generate reports; that is, no special viewer download is required. Reports can be viewed in the Web browser or exported in a variety of formats, including HTML, PDF, CSV, and Microsoft Excel, all to meet the specific needs of tax and other finance professionals.

About Sabrix

Sabrix, Inc. is the leading provider of Consolidated Transaction Tax Management™ software and services that offers a consolidated approach to transaction tax management, enabling tax and IT professionals to manage sales and use tax, and VAT with consistent accuracy, control, and efficiency. Sabrix's Transaction Services-Oriented Architecture™ provides a consistent way to determine, calculate and record any transaction-related tax so enterprises can manage compliance and optimize cash flows, for a single application or on a global scale. The company's enterprise customers include BASF, Cisco, DTE Energy and York International. Founded in 2000, Sabrix is based in San Ramon, California, with operations in Boston, Chicago, New York, Portland, San Francisco, and London. For more information, go to www.sabrix.com.

Sabrix, SabrixReports, Consolidated Transaction Tax Management and Transaction Services-Oriented Architecture are trademarks of Sabrix, Inc. All other company and product names are trademarks or registered trademarks of their respective holders.

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