Press Release Summary:
Available in 4 different packages, Consulting Services assist public companies in participating in SEC's Voluntary Filing Program. Initial Filing Package includes 2 copies each of Dragon Tag and Dragon View(TM) XBRL viewing and analysis tool, as well as consulting time to create SEC filing with financial statements and footnotes in XBRL format. Additional packages include Subsequent SEC Financials Filings, Initial Markup of Notes/MD&A, and Subsequent Markup of Notes/MD&A.
Original Press Release:
PR Newswire and Rivet Software to Offer XBRL Consulting & Conversion Services
NEW YORK, June 6 / / -- PR Newswire and Rivet(TM) Software, an innovator in Financial Integrity Management(TM) and XBRL (eXtensible Business Reporting Language) solutions, today announced the availability of consulting and conversion services for companies interested in creating XBRL-enabled documents for filing with the U.S. Securities and Exchange Commission (SEC).
The availability of these new services marks an extension of the partnership created between PR Newswire and Rivet in January 2005, which made Rivet's Dragon Tag(TM) XBRL document creation tool available to PR Newswire's customers. The new consulting services, provided by Rivet, will assist public companies in participating in the SEC's Voluntary Filing Program (VFP), which is part of an "initiative to assess the benefits of tagged data and its potential for improving the timeliness, accuracy and analysis of financial disclosure." (http://www.sec.gov/news/press/2004-138.htm) For more information on the SEC's VFP and interactive data initiative, visit http://www.sec.gov/spotlight/xbrl.htm.
"Participation in the SEC Voluntary Filing Program has been picking up speed, and we're pleased to offer our clients additional services to facilitate their own filings," said Michelle Savage, vice president of IR Services at PR Newswire and Chairperson of the XBRL-US Adoption Working Group. "Rivet has been involved with over 50 percent of filings made to the VFP to date, so they are well-positioned to help our customers with the process."
The new consulting services are available in four packages and all come with a money-back guarantee of SEC acceptance:
Initial Filing Package - This service includes two copies each of Rivet's Dragon Tag and Dragon View(TM) XBRL viewing and analysis tool, in addition to consulting time to create an SEC filing (10-Q or 10-K) with financial statements and footnotes in XBRL format.
Subsequent SEC Financials Filings - This service will assist companies in creating subsequent financial documents for successive quarters.
Initial Markup of Notes/MD&A - This service will assist companies in XBRL-enabling the Notes and Management Discussion sections of their SEC filings.
Subsequent Markup of Notes/MD&A - This service will assist companies in tagging Notes in successive quarters.
"Many public companies are operating under the misconception that XBRL filings to the SEC have to be time-consuming and costly," said Robert Rohan, executive vice president of Rivet. ""The combination of Rivet's Microsoft Office(R)-based solutions, financial consulting expertise and our important partnership with PR Newswire will help alleviate these complexities. This program will provide companies with a cost-effective way to submit XBRL-based financial statements to the SEC and gain a working knowledge of this important trend towards interactive data."
In conjunction with the new XBRL consulting services, PR Newswire is also offering a 20 percent discount on the first time use of its Edgar Express service that allows PR Newswire customers to easily convert and file all of their compliance-related SEC filings in traditional HTML or ASCII text, including news releases filed as 8-Ks, stand-alone 8-Ks, 10-Ks and 10-Qs to the SEC's Edgar Database.
About PR Newswire
Now in its 52nd year, PR Newswire Association LLC (http://www.prnewswire.com/) provides electronic distribution, targeting, measurement and broadcast services on behalf of some 40,000 corporate, government, association, labor, non-profit, and other customers worldwide. Using PR Newswire, these organizations reach a variety of critical audiences including the news media, the investment community, government decision- makers, and the general public with their up-to-the-minute, full-text news developments.
Established in 1954, PR Newswire has offices in 11 countries and routinely sends its customers' news to outlets in 135 countries and in more than 40 languages. Utilizing the latest in communications technology, PR Newswire content is considered a mainstay among news reporters, investors and individuals who seek breaking news from the source. PR Newswire's leading services include ProfNet Experts(SM), eWatch(TM), MEDIAtlas(TM), Search Engine Visibility (SEV), MediaRoom, MediaSense(TM) and MultiVu(TM). PR Newswire is a subsidiary of United Business Media plc of London.
About Rivet Software
Rivet Software is an innovator in developing effective and easy-to-use Financial Integrity Management and XBRL solutions. Based in Denver, Colorado, USA, Rivet Software is focused on addressing new worldwide technology requirements for the business reporting and accounting community. All Rivet Software products adhere to the XBRL global reporting standard and work with the de facto standard desktop software, Microsoft Excel and Word. The company's management team includes industry veterans, founding members of the XBRL community and past advisors to the American Institute of Certified Public Accountants (AICPA). For additional information, please visit http://www.rivetsoftware.com/.