SOURCE: Rivet Software

December 10, 2007 09:00 ET

Rivet Software Announces Open Source Interactive Data Suite Supporting New US GAAP Taxonomies

Leading XBRL Creation & Viewing Suite Supports US and Canadian GAAP, IFRS and Multiple International Taxonomies

DENVER, CO--(Marketwire - December 10, 2007) - Rivet® Software, a leading developer of financial communications and analysis software, today announced new versions of its Dragon Tag® XBRL Enabler and Dragon View® XBRL Viewer, including full support for the new XBRL US GAAP taxonomies released last week by the US Securities and Exchange Commission (SEC). Rivet also announced that these market-leading applications will be freely available under an open source license.

XBRL US, developer of the new XBRL US GAAP taxonomies, has recognized Rivet's support for the comprehensive new taxonomies. Rivet's product suite also supports a wide range of international taxonomies, including IFRS, and those of Canada, Singapore, Japan and numerous other jurisdictions.

"Our support for standards such as XBRL, IFRS and the new US GAAP taxonomies, combined with our open source contributions, exemplify Rivet's collaborative and open business model," said Michael Rohan, president of Rivet Software. "Dragon Tag is a popular product used by thousands of users, including many participants in the SEC's Voluntary Filing program; our goal in making it freely available for use and modification by the global community is to encourage more organizations to consider XBRL solutions."

"We appreciate Rivet's responsive development efforts to support the new US GAAP taxonomies upon initial release," said Mark Bolgiano, CEO of XBRL US. "Rivet's decision to release its popular Dragon Tag and Dragon View products with open source licenses is significant, and the collaborative opportunities of open source access should be positive catalysts to help speed and broaden XBRL adoption."

Open Source License: Dragon Tag and Dragon View will be licensed under a permissive open source model that allows the software to be freely embedded in other applications for internal use or license to customers. With these Rivet products and the Interactive Data Web Viewer (created by Rivet for the US Securities and Exchange Commission), organizations and software developers now have a complete suite of open source products to create and view XBRL documents. Rivet will remain actively involved in ongoing support and maintenance of all three products and will coordinate the submission and distribution of code enhancements offered by the global community.

Availability: In addition to supporting the new taxonomies, Dragon Tag 2.0 and Dragon View 2.0 include new functionality and reflect the maturity of three years of development, testing, extensive hands-on usage and feedback from end-users. Both products are available for free download from the Rivet web site. The 2.0 versions are available for beta use and will become generally available (GA) after completion of the US GAAP public review period (currently planned in April 2008). Source code will be available for download in January 2008, and contributions of code or other enhancements will be accepted when the GA versions are released. Dragon Tag and Dragon View are also available with a traditional license for organizations that don't support open source products. The SEC Interactive Data viewer source code can be downloaded from the SEC web site (

XBRL US GAAP Taxonomy Review: The creation of new taxonomies for US GAAP filings has been a substantial effort involving hundreds of people and a committed staff at the SEC and XBRL US. A vigorous public review is crucial, and Rivet has committed to assisting XBRL US and as many participants as possible in testing, documenting and understanding the new taxonomies. It is vitally important for public companies, investors, investment analysts and others involved with SEC filings to participate in the review process. Anyone interested in this process can contact Rivet at or go to for more information.

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. For additional information, please visit

© 2007 Rivet Software, Inc. All rights reserved. Rivet, i-Fi, Crossfire, Dragon Tag and Dragon View 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. All other trademarks are the property of their respective owners.

Contact Information

  • Media Contacts:
    Jennifer Hadden
    Ogilvy Public Relations Worldwide
    Email Contact

    Christy Rohrs
    Rivet Software
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