SOURCE: UBmatrix

May 06, 2008 13:27 ET

UBmatrix Announces Support for 2008 XBRL Formulas for Processing and Validation

Formula Specifications Are Driving Force Behind the Flexibility of XBRL Reporting; UBmatrix Support Will Allow for XBRL Community Review and Acceptance of Formula Standards

REDWOOD CITY, CA and EINDHOVEN, THE NETHERLANDS--(Marketwire - May 6, 2008) - During a presentation at the XBRL International Conference in Eindhoven, the Netherlands today, UBmatrix, Inc., the leading provider of XBRL information exchange solutions, announced that its XBRL Processing Engine has passed the current 2008 XBRL Formula Specification and Functions Registry Conformance Suites tests using a pre-release of UBmatrix Processing Engine, Version 3.5. The company will make the 2008 XBRL Formula functionality available with the release of UBmatrix Processing Engine 3.5 this summer. The release of the 2008 XBRL Formula Specification is notable because the specification is a driving force behind further flexibility and usefulness of XBRL for business reporting; passing the formula conformance suite is a key milestone that will enable XBRL International to proceed toward public review and acceptance of the standards.

"UBmatrix has been a pioneer in the development of XBRL and in the development of the XBRL formula specifications. Our commitment to innovation and to building and expanding the XBRL community is demonstrated by our early support of the 2008 XBRL Formula Specification," said Sunir Kapoor, president and Chief Executive Officer of UBmatrix, Inc. "Given our processing engine's wide market adoption, we expect our early support for 2008 formulas to expedite review and acceptance of the formula specification for the benefit of the XBRL community."

UBmatrix has been a pioneer of XBRL-based formulas, offering production-ready applications supporting earlier drafts of standard calculations and business rules modeled in an XBRL taxonomy. Among other benefits, the formula specifications have allowed XBRL systems to efficiently and effectively enforce data validation and identify reporting exceptions. For the past five years the XBRL International community, through the XBRL Formula Working Group, has been updating the XBRL formula specifications to expand their application and flexibility. UBmatrix has helped lead that working group -- and is working to advance public adoption of the new specifications by being the first software company to implement the "Candidate Recommendation" 2008 XBRL Formula Specification.

UBmatrix Processing Engine, Version 3.5, which is scheduled to be available as a beta release in June 2008, will include support for 2008 XBRL formula processing and validation. UBmatrix Processing Engine is a platform for the development and deployment of XBRL-based applications. The solution provides taxonomy and instance document validation and conversion modules which allow for transformation of XBRL from and into Excel, CVS, XML or HTML formats. The company also offers the UBmatrix XBRL Taxonomy Designer, the leading XBRL taxonomy authoring solution, which offers a formula editor and an integrated processing engine for testing/validating formulas.

Companies or organizations wishing to participate in the beta program for the UBmatrix Processing Engine 3.5 with the 2008 XBRL formula specifications should submit an inquiry at www.ubmatrix.com. Those wishing to examine conformance suite test results can visit www.ubmatrix.com/products/formulas2008.

For further information on the business applications and value of XBRL processing engines, download a free whitepaper at www.ubmatrix.com/downloads/processing_engine.pdf.

UBmatrix XBRL Solutions

UBmatrix provides a full suite of solutions and services that enable global corporations and regulatory agencies to realize the benefits of XBRL -- from the underlying processing engine, to desktop development and deployment tools, all the way to packaged solutions for Basel II regulatory filings.

UBmatrix's XBRL solutions are used today in advanced, demanding environments such as the Federal Deposit Insurance Corporation (FDIC), European central bank supervisors such as Banque de France, the global Microfinance Information eXchange, and leading global corporations participating in the SEC XBRL voluntary filing program. UBmatrix is also pioneering efforts to provide enterprise class XBRL storage working closely with Oracle.

UBmatrix Processing Engine

Now shipping, the UBmatrix Processing Engine 3.1, is the core platform for the development and deployment of XBRL-based applications. UBmatrix Processing Engine 3.1 is the market's highest performing processing engine. Version 3.1 raises the industry standards for XBRL platforms with the addition of powerful multithreading and streaming support. The UBmatrix Processing Engine is designed for high volume, large scale business processing and provides taxonomy and instance document validation and conversion which allow for transformation of XBRL from and into Excel, CVS, XML or HTML.

The UBmatrix Processing Engine is built on an extensible architecture and enables developers to easily integrate XBRL processing into Windows or Linux-based applications. The processing engine fully conforms to the latest XBRL standards and also supports formulas in anticipation of the upcoming XBRL International standard.

About UBmatrix

UBmatrix, Inc. is the leading provider of XBRL-based information exchange solutions for global organizations and enterprises allowing them to more efficiently and effectively address the challenges of business and financial information management, exchange and reporting. XBRL is fast becoming the standard for financial information exchange and reporting demonstrated by the XBRL programs being driven by the SEC, FDIC and the European Central Bank Supervisors. UBmatrix XBRL solutions increase operational efficiency and financial transparency, and ensure reporting accuracy and regulatory compliance. UBmatrix is based in Silicon Valley with development centers in Kirkland, WA, and New Delhi, India. For further information, visit www.ubmatrix.com.

Contact Information

  • For further information, contact:

    Dan Cahill
    (917) 617-0106 Mobile
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