International Bureau of Fiscal Documentation Selects Verity to Manage International Taxation and Investment Publications
Global Tax Information Organization Uses Verity Search Technology for Online and Offline Purposes
SUNNYVALE, Calif - 2003-03-31 - Verity Inc., (NASDAQ: VRTY), a leading provider of enterprise software that helps organizations maximize the return on their intellectual capital investment, today announced that the International Bureau of Fiscal Documentation (IBFD), the pre-eminent source for cross-border tax information, is utilizing Verity search technology on its subscription-based Internet and CD-ROM products.
Based in Amsterdam, the Netherlands, the IBFD serves the needs of the world's leading accounting and law firms dealing with, amongst other things, the intricacies of international treaties on cross-border taxation and social securities. The IBFD sought an effective search solution that could be applied to its newly launched online service and embedded into CD-ROMs which contain much of the same content found on its Web site.
"The IBFD's aim is to harness the best of breed search engine for its online products as well as our CD-ROM products," said Ad Timmermans, a member of IBFD's Board of Management. "This joint application shortens the development path and provides a common look and feel as well as ease of use, regardless of whether the search is done online or offline. In the Verity search technology we saw the greatest accuracy, versatility and scalability. It was a clear choice to go with Verity."
The IBFD publishes more than 5,000 international tax and social security treaties, as well as supporting documents. Verity's advanced search technology allows the IBFD to search the HTML content, enabling customers to obtain the most accurate search results. In addition, the IBFD move to apply Extensible Markup Language (XML) to the content is easily handled by the Verity technology.
"The IBFD offers a unique service to a demanding group of professionals who need the right information, at the right time, in the right form," said Hugo Sluimer, Verity's senior vice president of EMEA (Europe, Middle East, Africa) and Asia-Pacific operations. "Verity technology enables the IBFD to provide multiple vehicles with a common information retrieval mechanism to bring the latest, most relevant international tax treaties to the world's leading accounting and legal experts, for whom accuracy and time matter greatly."
The international tax treaties provided by the IBFD are signed in multiple western European languages. The Verity technology supports these languages and can be easily expanded to include searches for information in other business languages.
According to the IBFD, it is crucial for the organization to provide its customers with constant up-to-date information. By offering this content in both online and CD-ROM formats, the IBFD not only provides tax practitioners and legal experts, who are often on the move, with flexibility, but also convenient and easy access to tax and investment research tools, without the need to carry heavy printed files. Its online subscribers can also access updated information from the Internet around the world 24x7.
About the International Bureau of Fiscal Documentation
The IBFD is an independent not-for-profit research and educational foundation, established under the laws of the Netherlands in 1938 by the founders of the International Fiscal Association. Its mission is to research, develop, process and disseminate information and insight in the fields of international and comparative taxation and foreign investment legislation.
The IBFD is completely independent, both organizationally and financially. This is essential when providing objective and unbiased content on research and educational projects. The organization's professional research group includes multilingual lawyers and economists from 45 countries, supported by a worldwide network of correspondents who monitor, report on and evaluate the latest tax changes and trends. Research findings are published in the IBFD's publications, incorporated in training programs, included in the IBFD's Library and Information Center, and on its Web site and CD-ROMs.
The IBFD has clients in 150 countries, including governments and tax administrations, international organizations such as the OECD and European Commission, internationally operating enterprises, accounting and law firms, international tax consultants, law and business schools and libraries, as well as individuals with international interests.
About Verity
Headquartered in Sunnyvale, Calif., Verity provides software solutions that help organizations maximize the return on their intellectual capital investment by utilizing Verity's industry-leading enterprise search, classification and personalization technologies. Verity software is used for sharing information within and between enterprises; for facilitating e-commerce sales; and for B2B activities on Web-based market exchanges. In addition, Verity technology serves as a core component of many leading e-business applications.
Verity products are used by more than 3,500 organizations in the private and public sectors. Customers include Adobe Systems, AT&T, Bristol-Myers Squibb, Cisco, Cap Gemini Ernst & Young, Documentum, Dow Jones, EDGAR Online, Financial Times, H-P, Home Depot, Lotus, META Group, SAP, Siemens, Stellent, Sybase, Time New Media and Timex.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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