SOURCE: UBmatrix, Inc.

April 26, 2007 10:05 ET

UBmatrix Selected to Present at Innovation Showcase at Software 2007 Conference

CEO Sunir Kapoor to Discuss Innovation of XBRL Solutions and Impact on Financial Information Reporting and Exchange

PALO ALTO, CA and KIRKLAND, WA -- (MARKET WIRE) -- April 26, 2007 -- UBmatrix, the leading provider of XBRL information exchange solutions, today announced that the company has been chosen as an Innovation Showcase presenter at the upcoming Software 2007 Conference, organized by the San Hill Group. Just twenty five notable software companies have been selected to present at the conference which will examine the role and importance of innovation in the software industry.

Sunir Kapoor, president and chief executive officer of UBmatrix, Inc., will provide a presentation on the importance of innovation in financial information reporting and exchange -- and the role and growth of XBRL software. Also speaking and presenting at the conference are Steve Ballmer, CEO of Microsoft; Marc Benioff, CEO of Salesforce.com; Hasso Plattner, Co-founder and Chairman of SAP; and Ed Zander, CEO of Motorola.

Kapoor will discuss the core business value of UBmatrix's XBRL solutions and discuss the growth in usage of XBRL for regulatory reporting -- and how this can serve as the foundation for greater efficiency and accuracy in financial information exchange. According to the Harvard Business Review, XBRL (Extensible Business Reporting Language) "makes it easier to generate, validate, aggregate, and analyze business and financial information, which in turn will improve the quality, timeliness, completeness, and comparability of the information that companies use to make decisions."(1) Use of XBRL is accelerating in part because of recent regulatory developments, including the Federal Deposit Insurance Corporation (FDIC) adopting XBRL as the standard for reporting for its 8,200 member banks; the European Union Central Banks in Basel II adopting XBRL for reporting beginning in 2007 -- and the SEC setting the stage for XBRL reporting with a pilot XBRL reporting program.

"The use of XBRL is revolutionizing the way companies exchange and report financial information," said Sunir Kapoor, president and chief executive officer of UBmatrix, Inc. "The first wave of XBRL innovation has come through trends in regulatory reporting, but as we see XBRL use extend across the enterprise, there will be succeeding waves of XBRL innovation within the global corporation. We look forward to discussing these trends and the business value of XBRL with this audience of business and software leaders."

"UBmatrix, Inc. represents one of twenty-five companies that we believe will play a notable role in the future evolution of the software ecosystem," said M.R. Rangaswami, Sand Hill Group co-founder and Software 2007 executive conference director. "This year's Showcase presenters illustrate that innovation is alive and well in the software industry."

The Software 2007 Conference takes place May 8th and 9th, 2007 at the Santa Clara Convention Center in Santa Clara, CA. Kapoor will present during the Innovation Showcase on May 9th, 2007 at 12:00 PM Noon Pacific Time.

About UBmatrix

UBmatrix provides technology solutions for improving information exchange. Offered both as licensed software and on-demand via the Internet, UBmatrix solutions help automate the process of exchanging information using eXtensible Business Reporting Language (XBRL), the next evolutionary stage of XML. Using UBmatrix solutions, organizations can move data freely among applications within an enterprise, between business partners, and to regulators without losing the semantic meaning of the data. Benefits include increased operational and financial transparency, cost savings in sharing data both inside and outside the organization, and greater confidence in reporting accuracy and regulatory compliance. Visit UBmatrix at www.ubmatrix.com.

About Sand Hill Group

Sand Hill Group serves the $600+ billion software, services and solutions market by providing investment and management advice to emerging enterprise technology leaders. Sand Hill also owns Sandhill.com -- the premier destination site and resource center for CEOs, VPs, Entrepreneurs, VCs and for members of the software industry ecosystem. Its weekly electronic newsletter is read by thousands of executives. Sand Hill produces the 'Enterprise' and 'Software' conferences for CEOs and executives in the industry and creates high-impact research reports for its constituents.

(1) Harvard Business Review, Breakthrough Ideas for 2007, February 2007

Contact Information

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