Press Release
- Date:
- Monday, April 15, 2002
- Contact:
- David Peikin
- Phone:
- (301) 918-0818
- Email:
- G1@schwartz-pr.com
Group 1 Announces Major Enhancements to GeoTAX -
Now Meets Tax Jurisdiction Assignment Provisions
of Recent Federal and State Tax Legislation
Lanham, MD — Group 1 Software (Nasdaq: GSOF), a leading provider of customer relationship management (CRM)-enabling software, today announced major enhancements to its GeoTAX tax jurisdiction assignment solution. GeoTAX is a comprehensive suite of tools that standardizes addresses and appends accurate state, county, municipal place, and special tax jurisdiction information to customer address records. In this new release, GeoTAX now enables users to match address data against a database of all known postal and non-postal street addresses as required by recent state and federal tax legislation.
Furthermore, GeoTAX users now have the ability to match address records against commercially available street files and organizations' internal files. For more accurate mapping and advanced tax jurisdiction boundary matching techniques, GeoTAX can calculate the latitude and longitude of a street address to identify the precise location of individual addresses. The new auxiliary file matcher enables businesses to create their own street-level address file if users have access to information more current than what is in the GeoTAX database, which is updated quarterly. With the incorporation of the auxiliary file matcher, users can respond to tax jurisdiction changes in the most timely manner possible. Thereby, businesses can comply with the due diligence requirements of recent tax situsing legislation, such as the federal Mobile Telecommunications Sourcing Act.
With tax jurisdictions constantly changing and new tax jurisdiction assignment requirements mandated by federal and state laws, the potential liability resulting from inaccurate tax assignment poses a significant problem. To provide businesses accurate address information for tax jurisdiction assignment, GeoTAX incorporates exclusive access to the most current taxation boundary files through a database that continually tracks and updates taxation boundary files nationwide. With respect to tax jurisdictions, verifying address information and determining positional accuracy are operational requirements for businesses in industries such as telecommunications, utilities, leasing, and retail.
"Group 1's GeoTAX solution is of great value in helping us accurately assign customers to taxing jurisdictions, something that is often quite challenging due to continually changing boundaries," said Linda Fisher, director of tax, AT&T Wireless Services. "Among the significant product enhancements, we anticipate receiving significant benefits from the ability to comply more easily with recently passed legislation regarding telecommunications taxation.”
“The significant enhancements Group 1 has made to GeoTAX demonstrate our commitment to helping our customers comply with changing business and legal requirements,” said Martin Sohovich, Group 1's GeoTAX product manager. “With tremendous flexibility in matching methods, available data sources, platforms supported and operating modes, this latest GeoTAX product release offers users the most robust single-source solution available for tax jurisdiction assignment.”
GeoTAX operates on IBM mainframes, UNIX, AS/400, VAX and NT servers in batch, interactive and client-server modes or via hosted service.
Group 1 Software (Nasdaq: GSOF) is a leading provider of customer relationship management (CRM)-enabling software solutions for data quality, marketing automation, customer relationship communications and direct marketing applications. Group 1's software systems and services enable 2,500 customers worldwide to market smarter by helping them find, reach and keep customers. Founded in 1982 and headquartered in Lanham, Maryland, Group 1's solutions are utilized by leaders in the financial services, banking, retail, telecommunications, utilities, e-commerce, and insurance industries. The company's customer base includes such recognized names as Acxiom, AT&T, Charles Schwab, Entergy, GEICO, L.L. Bean, MCI WorldCom, Wal-Mart and Wells Fargo. For more information about Group 1, visit the company's Web site at http://www.g1.com.