SOURCE: UBmatrix

June 06, 2007 07:45 ET

UBmatrix, Inc. Joins With Oracle to Deliver Enterprise Class XBRL Storage

PALO ALTO, CA and KIRKLAND, WA--(Marketwire - June 6, 2007) - UBmatrix, Inc., the leading provider of XBRL information exchange solutions announced today that it is working with Oracle to provide enterprise class storage for XBRL on Oracle® Database 10g. Rapid growth in use of XBRL (Extensible Business Reporting Language) for regulatory reporting and financial information exchange is demanding a data storage solution specifically supported for XBRL.

"Already the standard for regulatory reporting in some industries and markets, XBRL usage is rapidly accelerating. To address the needs of our customer base, who are increasingly storing and accessing XBRL data for critical financial reports, we have optimized Oracle Database 10g specifically to meet the demands of XBRL data storage," said Willie Hardie, vice president of Database Product Marketing at Oracle. "As a leading developer of XBRL solutions, UBmatrix brings strong technology and expertise to help us develop this capacity."

XBRL allows companies to more efficiently and effectively generate, aggregate, validate, exchange and analyze business and financial information. As such, the use of XBRL is accelerating, with over 500 leading corporations and organizations adopting XBRL. In addition, the FDIC and the European Union Central Banks under Basel II have adopted XBRL as their required standard for reporting -- and the SEC is paving the way for similar standardization with the launch of a pilot XBRL reporting program.

To address this trend, Oracle has optimized XML DB in Oracle Database 10g for storage of XBRL data. With Oracle Database 10g's ability to store both the XBRL metadata and report submissions natively in the data server, companies can enable operational and business intelligence applications to interact more efficiently using standard SQL or XQuery. This will allow companies and organizations to easily and quickly store, access and query their XBRL data.

Without support of an XML database, organizations would need to decompose the XBRL data into relational tables, resulting in inefficiencies, including redundant copies of data and programs used to transform incoming information into various systems. Companies and regulators seeking to store large quantities of XBRL data will also benefit from the traditional Oracle hallmarks of optimized performance, scalability and reliability.

UBmatrix, Inc., a member of the Oracle PartnerNetwork, has also worked closely with Oracle to ensure its applications achieve peak performance when operating on Oracle by taking full advantage of the native XML support in Oracle Database 10g. The UBmatrix processing engine and the UBmatrix Enterprise Application Suite, an XBRL-enabled taxonomy and reporting management platform, use the XML capabilities of Oracle Database 10g to store XBRL documents in a highly scalable manner.

"Working with Oracle, UBmatrix is able to provide organizations enterprise-class, scalable XBRL applications that will meet their highest standards and their growing needs," said Sunir Kapoor, president and chief executive officer of UBmatrix, Inc. "The benefits of XBRL information exchange and reporting are clear, now organizations can realize those benefits with the scalability and quality of Oracle."

About the Oracle PartnerNetwork

Oracle PartnerNetwork is a global business network of more than 19,000 companies who deliver innovative software solutions based on Oracle software. Through access to Oracle's premier products, education, technical services, marketing and sales support, the Oracle PartnerNetwork program provides partners with the resources they need to be successful in today's global economy. Oracle partners are able to offer to their customers, leading-edge solutions backed by Oracle's position as the world's largest enterprise software company. Partners who are able to demonstrate superior product knowledge, technical expertise and a commitment to doing business with Oracle can qualify for the Oracle Certified Partner levels.

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 Banks. 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) 552-3999 Office
    (917) 617-0106 Mobile
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