San Ramon, California - Sabrix, Inc., a leading provider of enterprise tax applications, announced that BASF Corporation, the world's leading chemical company, has selected the Sabrix Application Suite as their transaction tax management solution. BASF will use the Sabrix Suite and integrated tax research for managing U.S. sales and use tax. This is the first joint customer win to come from Sabrix's recent strategic alliance with Ryan & Company, Inc., America's largest independent state and local tax consulting firm.
Given today's rapidly changing and complex tax compliance requirements, BASF needed a centralized transaction tax management system to quickly react to and absorb tax and business changes, while maintaining a high degree of compliance. By eliminating manual processes the Sabrix Application Suite allows BASF's tax professionals to reduce the overall cost of compliance, and spend more time on critical tax strategy and planning activities. BASF will streamline its tax compliance processes by automating tax determination, calculation and recording for all sales, requisition, purchase, payment and goods movement transactions, through integration of the Sabrix Suite with their SAP ERP system.
"We wanted one centralized tax management solution for improved tax determination accuracy and streamlined compliance, reducing time spent on audit support and administration," said Phil Kaplan, senior vice president and treasurer for BASF in North America. "After extensive evaluations, Sabrix met all our requirements. Our tax team can also maintain the Sabrix system without IT involvement, providing the lowest total cost of ownership."
Ryan & Company was selected to integrate the Sabrix Application Suite with BASF's SAP ERP system. Ryan & Company will utilize their proprietary tax automation methodology to ensure accurate transaction tax calculation and compliance with Sabrix. According to G. Brint Ryan, Managing Principal, Ryan & Company, "The partnership with Sabrix enables us collectively to provide precision tax decision automation with enterprise-class performance and integration for automating BASF's complex tax transactions and compliance needs. We are very pleased that BASF, a long-time client of Ryan & Company, was the first customer win from our alliance."
"BASF's tax professionals need to respond quickly to changes in tax law and company-specific requirements and processes, while spending more time on strategic activities, like tax planning," said Steve L. Adams, president and CEO of Sabrix. "The unique combination of the Sabrix Application Suite and integrated tax research, along with the value-added services from Ryan & Company's tax professionals, is ideally suited to meet BASF's tax management simplification and cost savings objectives."
To support the complex and rapidly changing tax needs of multinational and complex domestic corporations, Sabrix provides enterprise software and integrated global tax research for automating all U.S. sales and use tax, and international VAT for more than 120 countries. The Sabrix Solution is a centralized application that seamlessly connects to all business applications enterprise-wide, delivering management and control over all transaction taxes to the tax professional. For more information about the Sabrix Application Suite or Sabrix tax research call 1-866 4-SABRIX (for U.S.), or +1-925-543-0110 (for international). Information is also available online at www.sabrix.com.
BASF is the world's leading chemical company. Our goal is to grow profitably and further increase the value of our company. We help our customers to be more successful through intelligent system solutions and high-quality products. BASF's portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. Through new technologies we can tap into additional market opportunities. We conduct our business in accordance with the principles of sustainable development. In 2003, BASF had sales of approximately $42 billion and over 87,000 employees worldwide. Further information on BASF is available on the Internet at www.basf.com.
Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. With global headquarters in Dallas, Texas, the Firm provides an integrated suite of federal, state, local, and international tax services on a multijurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is an 11-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan’s multidisciplinary team of more than 4,700 professionals and associates serves over 29,000 clients in more than 75 countries, including many of the world’s most prominent Global 5000 companies. More information about Ryan can be found at ryan.com.
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