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SpatialNews.com Press Release
Group 1 Software and Outsourced Tax Provider G.K. Management Services Enter Into Strategic Alliance
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LANHAM, Md., April 5 -- Group 1 Software
(Nasdaq: GSOF) today announced that it has entered into a referral alliance
with G.K. Management Services (India) Pvt Limited (GKM), a leading provider of
tax outsourcing services. Under the agreement, GKM will introduce Group 1's
GeoTAX tax jurisdiction assignment solution to its customers, which include
some of the leading commercial entities in North America. GeoTAX is a
comprehensive solution that standardizes addresses and appends accurate state,
county, municipal place, and special tax jurisdiction information to customer
address records. GKM, headquartered in India, specializes in preparing state
and federal tax returns for North American organizations.
Tax jurisdictions are constantly changing, and there are a number of
recent federal and state mandates governing the tax jurisdiction assignment
process. The potential liability resulting from inaccurate tax assignment
poses a significant problem. To ensure that businesses utilize the most
accurate address information in this process, GeoTAX provides exclusive access
to the most current and accurate information regarding municipal tax
boundaries nationwide. This is accomplished through a data update process
that continually tracks and updates taxation boundaries nationwide, including
new incorporations, annexations, de-annexations, mergers, consolidations,
disincorporations, or dissolution of local governmental entities.
"Our GeoTAX solution provides organizations with a complete tax
jurisdiction assignment solution," said Bob Bowen, CEO of Group 1 Software.
"We look forward to working with GKM to introduce its customers to GeoTAX."
"We are privileged to be able to offer our customers the market's only
robust, proven tax jurisdiction assignment solution," said Viji Sudhakar, CEO
of GKM. "Using GeoTAX, our customers will have access to the most up-to-date
intelligence for tax jurisdiction assignment."
About Group 1 Software
Group 1 Software (Nasdaq: GSOF) is a leading provider of solutions that
help over 3,000 organizations worldwide maximize the value of their customer
and other data. Group 1 provides industry-leading technologies that allow
businesses to cleanse and enrich their corporate data, generate personalized
customer communications and integrate and deliver data across the enterprise.
These technologies are essential components of enterprise applications
including customer relationship management (CRM), enterprise resource planning
(ERP) and business intelligence systems. Founded in 1982 and headquartered in
Lanham, Maryland, Group 1 offers solutions utilized by leaders in the
financial services, banking, GIS/mapping, retail, telecommunications,
utilities, insurance and other industries. The company's customer base
includes such recognized names as Entergy, GEICO, L.L. Bean, MapQuest, QVC,
Siemens, Wal-Mart and Wells Fargo. For more information about Group 1, visit
the company's Web site at http://www.g1.com.
About G.K. Management
G.K. Management Services (India) Pvt Limited (or GKM) is a reputable
financial and tax offshore business process-outsourcing provider. The company
provides quality professional services using state of the art technology in
the areas of taxation, accounting and finance to clientele in the United
States and Europe. GKM has a dedicated team of professionals that can handle
all complex financial, taxation and accounting processes. The company's
website can be viewed at http://www.gkglobal.net or http://www.indiamart.com/gkglobal.
This press release may contain statements relating to future plans, events
or performance. Such statements may involve risks and uncertainties,
including risks associated with uncertainties pertaining to customer orders,
demand for products and services, development of markets for the company's
products and services and other risks identified in the company's SEC filings.
Actual results, events and performance may differ materially. Readers are
cautioned not to place undue reliance on these forward-looking statements,
which address the conditions as they are found on the date of this press
release. The company undertakes no obligation to release publicly the result
of any revisions to these forward-looking statements that may be made to
reflect events or circumstances that arise after the date of this press
release or to reflect the occurrence of unanticipated events. Group 1
Software and GeoTAX are registered trademarks of Group 1 Software, Inc. All
other brand names, trademarks and registered trademarks are the property of
their respective owners.
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