DTE Energy turns the light on use tax with Sabrix

SAN RAMON, Calif., Nov. 11, 2004 (PRNewswire) — Sabrix, Inc., a provider of enterprise tax applications, announced it has been selected by DTE Energy, a Detroit-based diversified energy company, to manage its U.S. consumer use tax. DTE Energy has many legal entities in its portfolio and plans to use the Sabrix Application Suite and integrated tax research across the enterprise.

To support its growth and increase operational efficiency, DTE Energy is centralizing its internal business applications. The Sabrix Application Suite, certified for SAP, will be integrated with DTE Energy’s SAP system for complete visibility and control for the entire procure-to-pay process. Procurement orders held within the SAP system are sent to the Sabrix Suite to automatically determine, calculate, and report on the appropriate consumer use tax owed on purchases. This integration and automation allows DTE Energy’s tax professionals to spend more time on tax planning and transaction modeling of key business decisions rather than management of tax tables and manual tax determination.

The Sabrix Application Suite and integrated tax research manages tax policy and rules across all of DTE Energy’s many operating companies in areas such as merchant power, industrial energy projects, energy trading, electricity, natural gas, coal, landfill gas, steam and chilled water. For DTE Energy’s tax and finance team and the chief financial officer, Sabrix’s financial dashboard provides real-time insight into transaction tax exposure across DTE Energy’s family of companies. Further streamlining of tax management for DTE Energy the Sabrix Application Suite’s integrated tax research, including complete data for the U.S., Canada and more than 125 countries, is automatically uploaded into the system monthly, and on an as- needed basis, for any state, county, jurisdiction or law change.

+ACI-Our vision is to simplify the complexities of tax compliance for companies like DTE Energy that are dealing with multiple geographies, and legal entities,+ACI- said Steve L. Adams, president and CEO of Sabrix. +ACI-Ultimately, automating transaction taxes improves cash management, the profitability of the corporation, and offers a seamless response to internal and external audit support and administration.+ACI-

DTE Energy is the latest in a growing number of organizations to deploy Sabrix, the most certified tax solution with SAP, for all transaction tax automation with SAP applications, including SAP R/3, mySAP CRM, and mySAP mobile client applications requiring the determination, calculation, and reporting of U.S. sales and use taxes and Canadian taxes. For more information about the Sabrix Application Suite or Sabrix integrated tax research call 1-866-4-SABRIX (for U.S.), or 925-543-0110 (for international). Information is also available online at www.sabrix.com.

About DTE Energy [ www.dteenergy.com ]

DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its largest operating units are Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan, and MichCon, a natural gas utility serving 1.2 million customers in Michigan.

About Sabrix

Sabrix, Inc. is a provider of enterprise tax software and world- class tax research that enables Global 2000 companies to lower the total cost of tax compliance through the centralized management of U.S. sales and use, and international value-added taxes (VAT). The Sabrix Application Suite provides complete solutions for all financial applications that require the determination, calculation, and reporting of U.S. sales and use tax, and international VAT for more than 125 countries.

The Sabrix Application Suite seamlessly integrates with sales and purchasing applications and unlocks the value of existing ERP platforms by centralizing tax determination and providing a single compliance and audit database for corporate tax organizations. Sabrix is committed to empowering tax professionals by ensuring complete visibility and control over indirect taxes, eliminating risks and exposures, facilitating tax planning and optimization, and delivering a guaranteed return on their technology investment. For more information on Sabrix Sales and Use, Sabrix VAT, or Sabrix Global Tax Management solutions, visit www.sabrix.com.

Previous articleUpgrades at key SDG&E transmission site improve reliability, reduce energy costs
Next articleTVD goes Kinetiq and helps Milton Hydro pass along savings

No posts to display