SOURCE: UBmatrix, Inc.

October 16, 2008 07:15 ET

UBmatrix Formalizes Developer Program Amid Strong Interest in Standardizing on XBRL

Global Momentum of XBRL Adoption, SEC Rule Proposal Drive Desire to Incorporate UBmatrix XBRL Software

UBmatrix Processing Engine and Developer Portal Access Included in Program

REDWOOD CITY, CA--(Marketwire - October 16, 2008) - UBmatrix, Inc., the leading provider of XBRL information exchange solutions, announced today that it is formalizing a Developer Program to give System Integrators and Independent Software Vendors (ISV) access to its XBRL software for use in their solutions and services. With a growing standardization on XBRL for financial information exchange and reporting, highlighted by the Securities and Exchange Commission's (SEC) recent proposed mandate for XBRL filings of SEC reports, there has been an increased demand to imbed XBRL capabilities into software solutions such as accounting, compliance and reporting software solutions.

"XBRL has really become the global standard for financial information exchange and reporting," said Sunir Kapoor, president and Chief Executive Officer of UBmatrix, Inc. "With agencies from the SEC to FDIC -- and agencies in markets ranging from Korea, to Italy, to Australia and the US having adopted XBRL as the standard for financial reporting, it has become imperative for financial, reporting and compliance solutions to embed the latest XBRL functionality for creating, validating and consuming XBRL documents."

The UBmatrix Developer Program extends UBmatrix's existing efforts with its current partners. For a minimum set annual fee, System Integrators and ISVs can utilize UBmatrix XBRL software for development and testing purposes. Developers can also access software code samples and tests, as well as receive training and developer assistance. At the core of the program is access to the UBmatrix Developer Portal. For more information on the program, please visit http://www.ubmatrix.com/developers.htm.

The UBmatrix Developer Program offers unlimited access to the UBmatrix Developer Portal and email access to developer assistance. The UBmatrix Developer Portal offers online product documentation; a wide range of code samples and tutorials; direction on configuring UBmatrix software; performance metrics and tuning techniques; and a discussion forum moderated by experienced XBRL developers.

At the heart of the program is access to the UBmatrix Processing Engine, the core platform for the development and deployment of XBRL-based applications. The UBmatrix Processing Engine is designed for high volume, large scale business processing, and is the market's highest performing processing engine. The UBmatrix Processing Engine provides taxonomy and instance document validation and conversion modules which allow for transformation of XBRL from and into Excel, CVS, XML or HTML. The engine is built on an extensible object-oriented architecture and enables developers to easily integrate XBRL processing into either Java or .NET applications. The processing engine fully conforms to the latest XBRL standards and supports XBRL 2008 formulas.

The UBmatrix Processing Engine is embedded in UBmatrix's own products including UBmatrix Report Builder and Enterprise Application Suite, and has been integrated into a number of market-leading products such as the Wolters Kluwer Balance Sheet Accounting Software and used by System Integrators such as Umanis for customers such as Dexia and Banque de France.

"Typically, an integration comparable to this would take a year or more, but with UBmatrix and XBRL it took just weeks. We were quite surprised at how easily and efficiently the integration went," said Efrem Tonioni, Wolters Kluwer Italy. "UBmatrix's experienced team provided us with the guidance and tools needed to quickly start the project. From conceptual design, through prototyping, to fully tested integration into our application took less than five months."

"Working with UBmatrix and leveraging UBmatrix XBRL solutions, Umanis will be able to quickly and efficiently implement the new reporting system for Dexia. The performance of this application will allow for the validation of an exceptional data load, corresponding to more than two hundred plus COREP Reports per reporting cycle period," said Steve Berdah, XBRL Technical Director for Umanis.

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
    (415) 442-3999
    (917) 617-0106 Mobile
    Email Contact