Press Release
- Date:
- Tuesday, May 02, 2000
- Contact:
- David Peikin
- Phone:
- (301) 918-0818
- Email:
- G1@schwartz-pr.com
Group 1 Releases GeoTAX 2.0 - Solution Provides Accurate Tax Jurisdiction Assignment
Lanham, MD — Group 1 Software (Nasdaq: GSOF) announced today the release of GeoTAX 2.0, the first fully integrated geocoding application for tax jurisdiction assignment. In addition to streamlined functionality, GeoTAX 2.0 features the ability to research changes in local tax boundaries and integrated cross-reference to third party tax tables.
GeoTAX 2.0 is a comprehensive suite of tools that standardizes customer addresses and appends accurate state, county, municipal place, and special tax jurisdiction information to customer billing records. GeoTAX 2.0 ensures the most accurate tax jurisdiction assignment by continually tracking and updating municipal boundary changes and cross-referencing this information to enhanced ZIP codes. With tax jurisdictions constantly changing, the potential liability resulting from inaccurate tax assignment poses a tremendous problem. For businesses in industries such as telecommunications, utilities, insurance, and retail, GeoTAX 2.0 represents a significant advance in their ability to solve this critical taxation problem.
"This enhancement provides our customers with a robust and easy-to-use solution with the highest possible level of accuracy in assigning tax jurisdictions for their sales transactions," said Martin Sohovich, GeoTAX Product Manager. "For the first time, companies have the ability to research specific municipal boundary changes as they impact tax, billing, and customer support." "There is great need for a product that can correctly identify local tax jurisdictions," said Ken Small, Auditing and Special Projects Manager for the Florida League of Cities. "Automated, accurate processing solutions are crucial to meeting the unique requirements of both industry and state and local governments."
Used in conjunction with Group 1's address validation and hygiene products, GeoTAX 2.0 offers businesses a comprehensive solution for precise tax jurisdiction assignment. GeoTAX 2.0 runs on IBM mainframes, UNIX, AS/400, and NT servers in batch, interactive, and client-server modes.
Group 1 Software is a leading provider of software for data quality, database marketing, electronic document composition applications, and direct marketing and mailing efficiency applications. Group 1 supports MVS, VSE, AS/400, UNIX (including Linux), Windows NT and other operating systems and various computers. Group 1 has offices throughout the United States and in Canada, the United Kingdom, and Continental Europe. The company is also represented in Latin America, Asia, and Australia.