SOURCE: UBmatrix

UBmatrix

September 15, 2010 11:30 ET

SQL Power Delivers Complete XBRL System for Regulators Powered by UBmatrix Technology

Signs OEM Deal to Embed UBmatrix XBRL Processing Technology in Packaged Offering

TORONTO and REDWOOD CITY, CA--(Marketwire - September 15, 2010) -  SQL Power, the premier business intelligence and data migration solution provider in Canada, announced today an OEM agreement with UBmatrix to embed UBmatrix's eXtensible Business Reporting Language (XBRL) processing engine in SQL Power XBRL Forms, a solution targeted at financial regulators. SQL Power XBRL Forms will provide a complete solution for regulators to collect, validate and analyze filer submissions. SQL Power XBRL Forms will leverage UBmatrix's industry leading XBRL software already in use by the US FDIC, Keane Federal Systems (under contract to the US Securities and Exchange Commission) and Banque de France.

The SQL Power solution is currently being deployed at the Deposit Insurance Corporation of Ontario (DICO), an Ontario Provincial Agency established under the Credit Unions and Caisses Populaires Act, 1994. DICO's role is to protect depositors of Ontario credit unions and caisses populaires from loss of their deposits. In 2009, DICO selected SQL Power Group and UBmatrix after a thorough competitive evaluation of product and service offerings from several other major software/consulting vendors. UBmatrix's proven XBRL solutions along with SQL Power's Data Integration expertise and productivity tools were keys to choosing SQL Power and UBmatrix as the XBRL Solution Implementation Partners.

The SQL Power solution announced today provides a full lifecycle XBRL-based solution that includes collecting submissions via forms technology; validating and processing the submission using UBmatrix technology and analyzing submitted information using SQL Power Business Intelligence Tools.

"Based on our successful efforts in meeting the requirements for DICO, we believe there is a large opportunity for regulators worldwide to improve their processes through the use of XBRL," said Sam Selim, CEO of SQL Power. "Our partnership with UBmatrix allows us to deliver our solution with confidence."

"We are excited to expand our relationship with SQL Power," said Thomas Reinemer, Executive Vice President of UBmatrix. "The tested solution they have built will help expand the use of XBRL amongst regulators."

About SQL Power

Founded in 1988, SQL Power Group is a leading XBRL, Data Migration and Business Intelligence software consulting firm. Our proven methodology, highly skilled consultants and our use of proven productivity tools have delivered XBRL and Data Migration solutions of the highest quality to value-oriented clients. SQL Power's dedication and ingenuity have established us as the premier XBRL and Data Migration solution provider in Canada. For more information, visit www.sqlpower.ca or contact us.

About UBmatrix

UBmatrix, Inc. is the leading provider of XBRL-based software solutions for global organizations and enterprises, enabling them to more efficiently and effectively address the challenges of business and financial information management, GRC, and external reporting. UBmatrix markets through an extensive network of OEM partners, including Oracle and SAP and implementation partners including CapGemini, CSC, Deloitte and, NTT Data. Users of UBmatrix solutions include the FDIC, Banque de France, and Keane Federal Systems under contract to the U.S. Securities and Exchange Commission. UBmatrix is based in Silicon Valley with development centers in Bellevue, WA, and New Delhi, India. For more information, visit www.ubmatrix.com.

Contact Information

  • For further information, contact:
    UBmatrix
    Steve Levine
    +1 650 264 4510 x1107 Office
    Email Contact

    SQL Power Group, Inc.
    Sam P. Selim
    +1 416-221-4220 ext. 235 Office
    Email Contact