SOURCE: Rivet Software

October 16, 2008 07:00 ET

Rivet Software Names Kurt Roscow Vice President of Sales

Kurt Roscow Brings Strategic Leadership to Rivet

DENVER, CO--(Marketwire - October 16, 2008) - Rivet™ Software, the world's leading provider of XBRL (Interactive Data) software, is proud to announce the hiring of Kurt Roscow as Vice President of Sales. In his new position, Roscow will oversee further development of Rivet's sales and distribution channels, as well as partner business strategy.

Roscow comes to Rivet with over 14 years of software industry experience with companies such as IBM, Oracle, and JD Edwards. He most recently served as President and General Manager for Integrated Research, Inc. where he managed the sales and operations of the $25+MM entity.

"Over the next 24-36 months it is crucial to build and develop strong customer and partner relationships that keep Rivet in the leadership quadrant for XBRL Solutions," said Mike Rohan, President of Rivet Software. "Kurt's prior experience and reputation for developing high performance customer focused sales teams will help Rivet advance and secure its leadership position."

Rivet, which this month is releasing two highly anticipated products, (CrossTag™ XBRL Creator and an HTML-centric version of the popular Dragon Tag® XBRL Enabler), will utilize Kurt's sales experience to generate interest and awareness in these products and the rest of the Rivet product line.

"I am thrilled to be a part of the first XBRL SaaS (software as a service) Tagging, Reporting, Validating, and Collaborative Solution in the industry," said Roscow. "Rivet solutions will revolutionize financial reporting and analysis in this changing and newly transparent financial industry."

Rivet's forthcoming enterprise solutions will further extend the benefits of XBRL for internal and external reporting requirements.

"Rivet has spent years pioneering software and services offerings to address the emerging needs of the XBRL community," said Rohan. "The SEC's new 'IDEA' initiative, which augments XBRL commitments from dozens of major stock exchanges and regulators around the globe, clearly demonstrates the need for world-class XBRL software and service solutions. For the past five years, Rivet has focused on developing software, training early users, and evangelizing the remarkable capabilities of XBRL, but now the time is right to initiate a comprehensive, broad based sales and marketing effort."

According to Rohan, "Roscow brings the strategic leadership needed to help extend the distribution of Rivet applications to the global marketplace. Every valuable strategy requires great team members; Kurt will play a large role in this strategy and contribute heavily to its execution."

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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