SOURCE: Rivet Software

December 17, 2008 19:58 ET

Media Alert: SEC Mandates Companies File in Interactive Data Format: Rivet Software Available for Comment

DENVER, CO--(Marketwire - December 17, 2008) -


WHAT:   Michael Rohan, president of Rivet Software, is available for
        comment on the U.S. Securities Exchange Commission (SEC) ruling
        today that public companies and mutual funds will be required to
        submit filings to the SEC in interactive data (XBRL) format, in a
        phased approach beginning in 2009.

        "During a troubled economic climate, standardizing financial
        reporting practices is crucial. We applaud the SEC for their
        research and testing efforts and for calling for a unified XBRL
        reporting standard. Today's ruling by the SEC marks a significant
        move towards greater transparency and efficiency of financial
        markets," said Michael Rohan, president of Rivet Software. "By
        mandating that all public companies file in interactive data
        format, specifically in XBRL, the SEC supports Rivet's solutions
        that make it easier for SEC filers to easily convert financial
        information into XBRL interactive data. In fact, Rivet Software has
        already demonstrated solutions that make it easier to convert,
        manage, collect and share financial information in XBRL."

        Rivet has been delivering XBRL solutions to SEC filers, investors
        and the SEC for more than four years. Under contract by the SEC and
        in response to customer demand, Rivet has introduced several
        technologies including the CrossTag™ XBRL Creator which allows
        non-technical users to easily convert financial statements, mutual
        fund prospectus and other business information, including notes,
        text and comments, into XBRL documents, and the Mutual Fund Risk
        and Return Viewer, an online viewer to display prospectuses filed
        with the SEC in interactive data format.

WHEN:   Michael Rohan, president of Rivet Software, is available for
        comment beginning Wednesday, December 17. Scheduling is determined
        upon each request.

ABOUT RIVET SOFTWARE:
        Rivet develops innovative, easy-to-use Financial Communications and
        Analysis software, including XBRL creation and viewing
        applications, and Crossfire® Analyst, a web-based financial
        aggregation, analysis and publishing solution designed for
        accounting, finance and other business users. Rivet Software, based
        in Denver, Colorado, supports its products with training, user
        assistance and consulting services. Rivet has provided software and
        assistance to over half of the filers in the SEC Voluntary Filing
        Program. For additional information, please visit
        www.rivetsoftware.com.

© 2008 Rivet Software, Inc. All rights reserved. Rivet and CrossTag are either registered trademarks or trademarks of Rivet Software, Inc. in the United States and other countries. XBRL is a registered trademark of XBRL International, Inc.

Contact Information

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