Assuming this is for SQL Server - yes, use SCOPE_IDENTITY :
@comp_name nvarchar (50), @City nvarchar (50), @State nvarchar (10), @Address ntext, @Zip_Code nvarchar (50), @Country nvarchar (50), @cust_name nvarchar (50), @CompanyID int AS INSERT INTO Company_Listing (comp_name, City, State, Address, Zip_Code, Country) VALUES (@comp_name, @City, @State, @Address, @Zip_Code, @Country) INSERT INTO Customer_Listing (cust_name, City, State, Address, Zip_Code, Country, CompanyId) VALUES (@comp_name,@City,@State,@Address,@Zip_Code,@Country,SCOPE_IDENTITY())
From the MSDN documentation on SCOPE_IDENTITY() :
Returns the last identity value inserted into the identifier column to the same extent. Volume is a module: stored procedure, trigger, function, or part. Therefore, two operators are in the same area if they are in the same stored procedure, function, or batch.