SOURCE: Rivet Software

Rivet Software

October 18, 2012 16:35 ET

Rivet Software Charges Ahead With Next Generation Financial Reporting

Sales Jump as New Products and Services Gain Wide Market Acceptance

DENVER, CO--(Marketwire - Oct 18, 2012) - Rivet Software, the premier provider of standards-based business reporting and analytics software, today announced that third-quarter sales figures were 50% ahead of the same period last year.

The announcement marks the twelfth straight outsized quarter-over-quarter gain for Denver-based Rivet, whose Crossfire Solutions platform is the most tested and used XBRL management and filing system in the industry.

In August, the firm introduced Crossfire 5.3, an updated version of its financial reporting & disclosure management software that included a new analytics component designed to both create and consume corporate XBRL filings.

According to Mike Rohan, Rivet's CEO and Co-founder, the move put Rivet in a unique position from a software perspective as companies began moving from just being 'compliant' to actually taking control of their external reporting process.

"Consumer demand is finally catching up to XBRL's capabilities, and data is actually being analyzed to add value," says Mr. Rohan. "Interactive reporting represents a huge developmental leap in the use of financial reporting data and we're the company best prepared to make the jump."

As part of its 'right service' approach, Rivet is launching a new website to better serve the evolving marketplace. "In today's marketplace, financial data has to be interpreted by employees with varying levels of accounting experience," said Mr. Rohan. "That's why we've redesigned our site to more accurately reflect the accessibility of our products and services, and to accommodate each of our individual audiences."

To demonstrate Rivet's unique company philosophy, their website links to an animated video detailing their offering in a refreshing and creative way. To view Rivet's innovative video, click here.

"This is a time of great change for our industry, and I'm particularly pleased to see our firm and our products leading the way," says Mr. Rohan. "We plan to stay there by delivering leading-edge software and outstanding services for our customers."

About Rivet Software
Rivet Software provides financial reporting systems that improve the way companies create and consume financial data. Founded in 2003 by software and accounting industry veterans, Rivet's mission remains to revolutionize global financial communications by enabling financial transparency and leveraging global standards. Headquartered in Denver, CO, the firm employs the most experienced XBRL and financial reporting staff in the industry. Rivet was honored in 2011 and 2012 as an Inc. 500 company. For more information, visit www.rivetsoftware.com.

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