SOURCE: Rivet Software

October 16, 2008 07:00 ET

Rivet Software Announces Launch of CrossTag™ XBRL Creator

World's First Commercial Web-Hosted XBRL Tagging and Review Solution

DENVER, CO--(Marketwire - October 16, 2008) - Rivet® Software, an innovator in Financial Communications and Analysis solutions, is proud to announce the launch of CrossTag™ XBRL Creator, a role-based web solution designed to shield non-technical business and accounting users from the complexity of XBRL.

Capitalizing on years of focus and work on the company's widely used Dragon Tag® XBRL Enabler, CrossTag's innovative design and deployment allows customers the flexibility to collaborate with their company or partners in the XBRL filing process.

Mike Rohan, President of Rivet Software, states that "Rivet's CrossTag Hosted Services make XBRL documents easier to create by separating the roles of template designers (who must understand XBRL concepts) and document preparers and reviewers, who are typically accounting or financial staff who may not be familiar with the sometimes complex XBRL syntax and structure."

"Our beta customers have really embraced both the features and the hosted web-based delivery model of CrossTag," said Rohan. "This new product targets potential SEC filers who are concerned by the XBRL learning curve, and the consequential time and effort required to create Interactive Data filings."

"Pending the SEC mandate announcement that will require XBRL Reporting for all US Public companies (with the largest 500 required to file starting this year), the time is right to invest in a comprehensive go-to market strategy," said Rohan. "I am confident that the investments Rivet has made in technology can be leveraged in the marketplace and make a quality difference to our customers."

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.

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