Navision Software announced that it has released its XBRL solution, one day after the publication of the official XML-based taxonomy. XBRL (eXtensible Business Reporting Language) is a free specification that first appeared on the financial and accounting scene in October of 1999. It uses a financial reporting specification, agreed upon by key members of the financial information supply chain that allows an open exchange of financial reporting data across all software and technologies, including the Internet. The XBRL coding contained in Navision Financials 2.50 will enable customers to more easily and efficiently connect and communicate with both competing products in the ERP space and complementary products such as Caseware. For example, a set of subsidiary offices using Navision Financials can now more quickly collaborate with a parent office using a larger ERP system, while realizing significant time and cost savings. XBRL offers several key benefits: technology independence, full interoperability, efficient preparation of financial statements, and reliable extraction of financial information. Information is entered only once, allowing that same information to be rendered in any form, such as a printed financial statement, an HTML document for the company’s Web site, an EDGAR filing document with the SEC, a raw XML file or other specialized reporting formats, such as credit reports or loan documents.