SOURCE: UBmatrix, Inc.

March 27, 2007 11:38 ET

UBmatrix, Inc. Named "Cool Vendor" in Finance by Leading Research Firm

PALO ALTO, CA and KIRKLAND, WA -- (MARKET WIRE) -- March 27, 2007 -- UBmatrix, Inc., the leading provider of XBRL information exchange solutions announced today that the company has been selected as a "Cool Vendor" in the "Cool Vendors in Finance and HCM, 2007" report by Gartner, Inc., a leading independent research firm. (1)

The "Cool Vendors in Finance and HCM, 2007" report names UBmatrix as one of four "Cool Vendors" in the report and states that these vendors are "innovative and impactful." The report continues, "Gartner believes that XBRL will become a widely adopted mechanism for sharing financial information in real time in the next few years," and that "XBRL will have a significant impact on the way in which companies report data and the detail to which they report."

"UBmatrix is honored to be named as a 'Cool Vendor' by Gartner," said Sunir Kapoor, president and chief executive officer of UBmatrix, Inc. "With adoption by the FDIC, an SEC pilot program in the U.S., and Basel II reporting in Europe, XBRL is rapidly on track to become the worldwide standard for financial information exchange and reporting."

The Gartner report further states, "XBRL reporting... will drastically reduce the time required to produce detailed and standardized internal and external financial reports, resulting in increased transparency, report production cost savings, and greater confidence in reporting accuracy and regulatory compliance."

UBmatrix develops and provides a range of XBRL-based information exchange solutions to leading global organizations and enterprises allowing them to more efficiently and effectively address the challenges of business and financial information management and reporting.

About Gartner's Cool Vendors Selection Process

Gartner's listing does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness of a particular purpose. Gartner defines a cool vendor as a company that offers technologies or solutions that are: Innovative, enable users to do things they couldn't do before; Impactful, have, or will have, business impact (not just technology for the sake of technology); Intriguing, have caught Gartner's interest or curiosity in approximately the past six months.

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

(1) Gartner, Inc., "Cool Vendors in Finance and HCM, 2007," by James Holincheck and Neil Chandler, March 19, 2007.

Contact Information

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