Longview Solutions

Longview Solutions

October 07, 2010 09:31 ET

Longview FXR Helps Companies Master the "Last Mile of Finance"

New Addition to CPM Suite Streamlines XBRL Statutory Filings and Facilitates Compliance with New Disclosure Mandates

TORONTO, ONTARIO--(Marketwire - Oct. 7, 2010) - Longview Solutions, a leading provider of corporate performance management and tax provisioning software, announced today the release of a new product designed to address expanded regulatory disclosure and filing requirements by the SEC, HMRC and other agencies. Longview FXR extends Longview's CPM suite and provides organizations with an integrated solution to comply with eXtensible Business Reporting Language (XBRL) Statutory Filings and new disclosure mandates.

With Longview FXR clients will be able to meet these requirements as well as the following added benefits:

  • Regain control of the "last mile of Finance"
  • Leverage an in-house solution rather than relying on expensive external service providers
  • Improve efficiency (save time) and accuracy in financial reporting
  • Roll forward XBRL tags and automate other error-prone manual tasks
  • Built-in validation capabilities reduce or eliminate errors
  • Gain time to remediate prior to filing
  • Web-based, embedded approach to XBRL Statutory Filings

"XBRL has become a regulatory requirement in several companies for the submissions of financial statements," said John Van Decker, Research VP, Gartner, Inc. "While many have outsourced their XBRL tagging to third parties and continue to use manual processes for XBRL assignment, we believe that software solutions that have embedded XBRL tagging and financial report collaboration are a more effective approach for organizations to ensure consistency, auditability and accuracy."

Longview FXR provides visibility, control and notification of issues across the entire financial reporting process. Its configurable and flexible workflow features provide end-to-end monitoring, streamlining and coordination of tasks associated with an XBRL filing. In addition, Longview FXR is web-based and offers a comprehensive embedded approach to the Statutory/XBRL filing process.

An added benefit for Longview customers is that Longview FXR seamlessly integrates with Longview's Financial Consolidation capabilities. Clients seeking further continuity and accuracy of the financial data populating their disclosure tables, audit trail and validation rules now have the ability to re-use systemic controls already built into the reporting process.

"We see XBRL Reporting and Financial Close Management as two key areas of growth, both from an existing and new customer perspective," said John Power, President, Longview Solutions. "What we offer that is different from other solutions on the market is the knowledge, expertise and product capabilities of the only independent, Tier 1, CPM provider committed to the Office of Finance."

Longview FXR is generally available on October 7, 2010 with limited time introductory pricing. To learn more visit www.longview.com or register for our upcoming webcast on October 28 at 2:00 p.m. ET.

About Longview Solutions

Longview Solutions provides corporate performance management (CPM) and tax provisioning software that leading companies such as Trustmark, Time Warner, Home Depot, Eaton, Welch's, and Integrys use to drive performance with speed, visibility and financial integrity. Since 1994, many of the world's most respected companies have been using Longview to create a single repository of financial truth from which all, or any one of the following key financial processes can be performed: Financial Planning, Budgeting, Forecasting, Modeling, Statutory and XBRL Reporting, Financial Consolidation, Management Reporting and Tax Provisioning. Longview is an Exact company headquartered in Toronto, Canada with regional offices in Philadelphia, Chicago (USA) and London (UK).

For more information, visit www.longview.com.

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