American Water selects Sabrix for consolidated transaction tax management
Software automates use tax management at water services provider...
SAN RAMON, CA, April 4, 2005 (PRNewswire) -- Sabrix Inc., a provider of software for consolidated transaction tax applications, was chosen by American Water to automate its U.S. transaction taxes, including consumer use tax. American Water picked Sabrix for its ability to assess and report tax at every step in the transaction lifecycle.
With customers in 29 states, American Water needed a consistent approach to determine, calculate, and record transaction-related tax to manage compliance and optimize cash flows. Sabrix will also provide American Water with an end-to-end tax compliance solution, including timely and accurate filing of returns through the seamless integration of Sabrix with RIA InSource(R) compliance software.
"Given the nature of the utility business, we needed a better way of streamlining tax compliance, and facilitating tax planning and optimization," said Ben Tartaglia, manager of tax research for American Water. "Sabrix's consolidated approach to transaction tax automation will help us assess and report tax at every point in the process and empower our team to more efficiently manage tax. While our initial focus is consolidating and automating use tax, we eventually plan to use Sabrix for sales tax as well."
Sabrix will help American Water stay on top of constantly changing tax rules and rates and more accurately and efficiently manage compliance. To help ensure complete visibility and control over indirect taxes, the Sabrix Application Suite will be integrated with American Water's J.D. Edwards financial applications.
As part of the implementation effort, Sabrix has partnered with Deloitte Tax LLP. "American Water can realize automation of its complex transaction tax processing and improve compliance with the Sabrix Application Suite. We are providing full-lifecycle consulting and integration services for the Sabrix implementation to support American Water's objective of consolidated transaction tax management," added Raffi Makarian, national principal, Tax ERP/Integration Services, Deloitte Tax LLP.
Sabrix (www.sabrix.com) is the only provider of 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(TM) 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.