SONOMA, CA – Sabrix, Inc., a leading provider of transaction tax management
for companies of all sizes, gathered over 150 influential transaction tax leaders
from Global 2000 companies at their annual user conference, the Sabrix Forum,
to discuss key transaction tax compliance challenges and strategies in the context
of current global economic conditions. In addition, the company announced the
2008 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
- 61% believe that the financial crisis will make it more challenging to achieve
sales and use tax and VAT compliance.
- 88% believe that state and local revenue shortfalls will result in an increased
number of audits.
- 68% believe the current economy will make sales and use tax, and VAT a
more strategic focus of their company.
- 73% view VAT/GST as the top tax risk for global finance directors due to
the integration of the global economy.
“The Sabrix Forum gives tax thought leaders a dynamic environment to share
best practices with their peers, and it gives the Sabrix team the opportunity
to hear firsthand the key challenges our customers are facing,” said Steve
L. Adams, President and CEO of Sabrix. “In these fragile economic times,
cash burn and the monies a company owes to tax authorities around the world
must be managed carefully. CEOs are relying on tax directors to help manage
cash flows and cut costs. As transaction tax continues to be a more valued part
of the finance department, we think Sabrix can certainly help manage cash and
reduce the costs associated with transaction tax.”
Sabrix Platinum Partner and global customer — Deloitte and HP —
delivered keynotes on the complexities of global indirect tax deployment and
ways to measure the effectiveness of transaction tax compliance processes. Other
Sabrix customers and partners participated in expert panel roundtable discussions
on topics that included:
- The challenges in achieving global tax strategy alignment within current
- Ways to maintain tax compliance in light of frequently changing tax rates
- Ways to consolidate and align tax strategies with global business operations
in multiple countries.
- Steps to reduce the high cost of tax compliance by reducing the IT department
burden of updating tax policy and maintaining ERP systems.
“As a Sabrix customer for the past seven years, the Sabrix Forum continues
to be the ideal venue to share best practices with thought leaders in transaction
tax management,” said Dan Kostenbauder, vice president, Transaction Taxes,
HP. “Especially in today’s economic climate, in which we fully expect
numerous tax law changes in the coming months, having control and direct oversight
of our tax processes is critical to remaining compliant. Having a single tax
solution like Sabrix allows our tax and IT teams to respond efficiently to the
Sabrix 2008 Customer Achievement Recipients
Also at the conference this week, Sabrix announced the winners of its
2008 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 experts. 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: Flowserve Corporation
Honorable Mention(s): IBM Corporation, Shell
Outstanding Global Deployment – Sabrix implementations
across multiple sites and national borders
Honorable Mention: Large entertainment and technology retailer
Outstanding ROI Case Study – Sabrix deployments resulting
in quantifiable tax and business process benefits
Winner: Global hotel company
Fastest Project Implementation – Sabrix deployments
with the shortest time span between design phase and go-live
Winner: Large entertainment and technology retailer
Honorable Mention(s): Vodafone, Cypress Semiconductor
Best Sabrix 5.0 Upgrade – Sabrix customer who upgraded
from a previous version of the Sabrix Application Suite to the latest version
Winner: Cisco Systems, Inc.
Honorable Mention(s): Sunoco, Inc., NetApp
The Sabrix partners participating and providing expertise included Accenture,
Definitive Solutions, Deloitte, DuCharme, McMillen, and Associates, Grant Thornton,
KPMG, PricewaterhouseCoopers, Ryan, Sarus, SMART, Taxaccord, Thomson Reuters,
and Yetter Consulting Services.