Sabrix Eases Payable and VAT Compliance Pain for Oracle Users

Building on its success with previous value-added tax (VAT) implementations, Sabrix(TM), Inc., the leading provider of Consolidated Transaction Tax Management(TM) applications, today announced expanded VAT support for users of the Oracle® E-Business Suite Payables and Purchasing modules. The SabrixConnection(TM) for Oracle integrates Sabrix tax and Oracle E-Business Suite applications to determine and calculate sales and use tax, and VAT, on payables and purchasing transactions throughout the purchase-to-pay business process -- putting company tax-policy decision-making squarely in the hands of an organization's experienced tax professionals.

The SabrixConnection for Oracle has already been successfully deployed in some of the world's largest corporations to solve the most complex VAT, sales and use tax determination challenges. The latest VAT-related enhancements include management of tax recoverability amounts and assignment to the associated general ledger accounts; country-level VAT tolerance checks of correct tax versus vendor-charged tax; and related process holds for detecting and managing invoice tax discrepancies. VAT managers have the ability to configure Sabrix for several country-specific options, including associating detailed levels of tax accounting based on specific VAT regime requirements and on several characteristics of each taxation event.

"Companies that purchase products for use or sales within the European Union, as well as for import and export, face complex record-keeping and tax rules for cross-border transactions," stated Steve L. Adams, president and CEO of Sabrix. "The SabrixConnection for Oracle helps companies replace manual, time-consuming and error-prone processes for managing VAT in their AP systems with an automated way to assess and report the appropriate tax at every point in a transaction's lifecycle. With Sabrix, companies can consistently control compliance and optimize cash flows for the best possible financial return for their businesses, in the European Union and beyond."

Using dynamic multivariate precision, the Sabrix application can determine transaction tax based on numerous transaction-specific parameters for consistent accuracy. With its Transaction Services-Oriented Architecture(TM), Sabrix has also enhanced the software's throughput capabilities by improving load-balancing for the connection with the Oracle E-Business Suite. Sabrix's architecture provides a highly scalable solution capable of running concurrently for multiple organizations, across one or more Oracle instances, to manage tax processing and compliance. Sabrix also provides full audit support and reporting capabilities for consistency in supporting international tax compliance and Sarbanes-Oxley Act reporting.

About Sabrix

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

Sabrix, SabrixConnection, 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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