SOURCE: Sabrix, Inc.

October 21, 2009 08:00 ET

Transaction Tax Leaders From Global 2000 Companies Gather at Sabrix Forum to Discuss Transaction Tax Compliance as Worldwide Recession Abates

Despite the Economic Recovery, the Global 2000 Expect Sales and Use Tax, and VAT Compliance to Be a Continued Focus Through 2010 and Beyond

BERKELEY, CA--(Marketwire - October 21, 2009) - SABRIX FORUM -- Sabrix, Inc., a leading provider of transaction tax management for companies of all sizes, gathered over 140 influential transaction tax leaders from Global 2000 companies at its annual user conference, the Sabrix Forum, to discuss key transaction tax compliance challenges and opportunities as the worldwide recession shows signs of abating. In addition, the company announced the 2009 Sabrix Customer Achievement Awards in recognition of outstanding achievements using the Sabrix Application Suite.

During the annual Sabrix Forum, a survey of Global 2000 transaction tax leaders revealed:

--  96% believe that despite the end of the recession, transaction tax
    will continue to be an area of focus.
--  83% have experienced an increased number of audits due to state and
    local revenue shortfalls.
--  In response to the economic downturn, 45% reduced headcount; however,
    surprisingly, 45% also increased their investment in tax technologies.
--  81% have made sales and use tax, and VAT a more strategic focus of
    their company due to the economy.
--  81% have implemented new programs and processes to remain compliant.
    

"The Sabrix Forum gathers tax thought leaders so they can share best practices with their peers, and provide direct feedback to Sabrix on the key transaction tax challenges they face," said Steve L. Adams, President and CEO of Sabrix. "At last year's forum, we focused on planning for the fragile economic times and implementing best practices to manage cash burn and the monies owed to tax authorities. This year, CEOs are still relying on tax directors to continue to help manage cash flows and cut costs as we recover from the recession. However, in addition, as government authorities are expected to continue to rely on transaction taxes to shore up their deficits, companies are looking to sustain transaction tax best practices indefinitely."

Harley T. Duncan, Tax Managing Director of KPMG LLP, a Sabrix Platinum Partner, delivered the keynote on the potential long-term implications the recession could have on transaction tax.

"The Sabrix Forum continues to be an appropriate venue to share leading practices with thought leaders in transaction tax management," said Harley T. Duncan, Tax Managing Director of KPMG LLP. "Despite the beginnings of an economic recovery, trends indicate that state governments and the federal government could place greater reliance on consumption and transaction taxes in the future."

Sabrix 2009 Customer Achievement Recipients

Also at the conference this week, Sabrix announced the winners of its 2009 Customer Achievement Awards in recognition of outstanding achievements using the Sabrix Application Suite. Customers who deployed the Sabrix Application Suite in the past 12 months were eligible for the awards. Winners were selected by a panel of global tax and software deployment specialists. The following customers were this year's award recipients:

Outstanding Enterprise Deployment -- outstanding deployment within a
company division or across multiple sites/divisions within the same
country OR Sabrix implementations utilizing one instance of Sabrix to
serve multiple systems, business entities, and geographies
    --  Winner: Flextronics

Outstanding Global Deployment -- Sabrix implementations across multiple
sites and national borders
    --  Winner: Goodrich Corporation
    --  Honorable Mention: Merck

Outstanding ROI Case Study -- Sabrix deployments resulting in quantifiable
tax and business process benefits
    --  Winner: Entergy

Fastest Project Implementation -- Sabrix deployments with the shortest
time span between design phase and go-live
    --  Winner: Altegrity, Inc.
    --  Honorable Mention: United Technologies Corporation (UTC)

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 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.

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