Rivet Software Launches XBRL Comparative Report
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New Reporting Service Helps Companies Analyze Tagging Element Usage to Make Informed Decisions
DENVER, March 9, 2011 - Rivet Software, the premier provider of standards-based business reporting and analytics, announced today the release of the XBRL Comparative Report, a new report that allows companies to quickly and easily analyze the XBRL tags used across companies in SEC filings. Rivet's XBRL Comparative Report enables users to view the XBRL tag selections used by up to 5 other filers within their industry mapped from the highest level to detailed tags. With this report, users gain valuable insight into commonly used tags, tags to avoid, and elements other companies have extended. This knowledge makes it easier to select the industry standard XBRL tags in less time.
Save Time. Searching through available tagging options can take hours. With the XBRL Comparative Report you can search and filter information using predefined or custom views, so users can quickly find and select the same tag used by other filers within their industry.
Make more informed tag selections. With Rivet's XBRL Comparative Report, users can quickly determine what tagging elements they've used in their filing that were not commonly used within their industry as well as determine what industry standard tagging elements and definitions they have not yet incorporated that others have used. Additionally, the XBRL Comparative Report provides the frequency each tagging element was used as an overall percentage of all SEC filings to date.
Know your level of comparability before you file. Save time in determining what your peer group disclosed in their XBRL filing. Compare across all aligned companies' statements, disclosures and details.
Transition to 2011 Taxonomy
The US-GAAP 2011 taxonomy includes some significant tagging element changes from the 2009 version. With this report, users can easily filter to find tagging elements used from the 2009 taxonomy that are no longer available in the 2011 taxonomy and the recommended replacements.
"Our customers told us they needed a way to easily view and analyze the tagging elements of industry peers in order to make smarter, more informed decisions, and we listened," said Patrick Quinlan, CEO of Rivet Software. "XBRL Comparative Report simplifies what could be a lengthy and time-consuming process by allowing customers to analyze the tagging element selections used by other industry leaders. Armed with this information, they can maintain alignment with industry standards and provide useful data to management. "
About Rivet Software
Founded in 2002 and headquartered in Denver, Rivet Software is at the forefront of standards-based business reporting and analytics. Rivet empowers companies with control over the collection, analysis and dissemination of their internal and external financial information to help advance the transformation of business communication worldwide. This privately-owned technology company works with more Fortune 500 companies than any other XBRL vendor and emerged from Q4 of 2010 as the XBRL vendor of choice for companies in search of a cost-effective, reliable solution for SEC reporting compliance. www.rivetsoftware.com.
SOURCE Rivet Software
CONTACT: Stefanie Jones of Stefanie Jones Public Relations, Inc., +1-303-388-8460, sjones@sjonespr.com, for Rivet Software
Web Site: www.rivetsoftware.com
