Software AG and Rivet Software announced a partnership to offer a complete Extensible Business Reporting Language (XBRL) solution for implementing a business reporting supply chain. Software AG’s Digital Reporting Platform (DRP) and Rivet’s Dragon Tag enables financial professionals to create XBRL Financial Statements on their own, eliminating back office overhead. This lets organizations more quickly respond to and adopt XBRL financial reporting in response to increasing regulatory requirements such as Sarbanes-Oxley and Basel II compliancy. XBRL is rapidly becoming the de facto standard for defining, exchanging and storing financial business information by regulators, stock exchanges, statistical offices, banks, and corporations across the world. Many regulators will be introducing mandatory filing of financial statements in XBRL including the Belgium tax authorities in 2006 and the UK and Dutch tax authorities by 2007. Other regulators such as the SEC in the US will begin accepting voluntary filing of XBRL documents in April 2005. This partnership allows users of Software AG’s DRP to easily create XBRL documents based on information that exists within Microsoft Word and Microsoft Excel via Rivet’s Dragon Tag. Users can markup, review, validate and export XBRL documents, easily, accurately and correctly. www.XBRL.org, www.softwareag.com, www.rivetsoftware.com
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