Rivet in the News
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December 25, 2008
Local Firm Capitalizes on Rules Shift
A recent federal mandate to change the format of corporate financial filings
could be a windfall for a Denver software-development company. Rivet
Software Inc. expects its revenues to soar and staffing to more than double
in 2009 as it serves companies making the shift to XBRL, or extensible
business reporting language.
December 18, 2008
SEC Mandates XBRL for Financial Statements
The SEC has passed a historic mandate requiring financial data to be filed
in XBRL interactive data format. The first to comply will be companies with
a market cap greater than $5 billion, beginning with reporting periods after
June 15, 2009.
December 18, 2008
Bowne Renews Strategic Alliance with Rivet Software
"Bowne & Co., Inc. (NYSE: BNE) today announced recent enhancements to its
suite of XBRL® (eXtensible Business Reporting Language) solutions, including
the renewal of its strategic alliance with Rivet Software, a leader in
interactive business software solutions."
October 17, 2008
XBRL community descends on capital
SEC chairman
Christopher Cox, one of XBRL's key champions, was too preoccupied by the
financial crisis to turn up for a keynote speech at a wide-ranging
conference exploring the power of the new interactive data tool.
October 16, 2008
SEC plans XBRL standard to liberate financial data
WASHINGTON--Financial information about companies is sometimes difficult to
uncover, and even more difficult to compare. It's buried in footnotes to
earnings reports and sometimes almost seems intentionally obfuscated. The
Securities and Exchange Commission thinks it has the answer: a type of
language for business data that could be to finance what HTML was to the
Internet.
October 15, 2008
Rivet Covered in Financial Week Article
While the technology that underpins XBRL is complicated stuff, the concept
of interactive financial data is pretty straightforward. The basic idea is
to get everybody using the same definitions for terms found on financial
statements.
October 12, 2008
Rivet Mentioned in Financial Week Article
Despite being a midcap U.S. company with a market
capitalization of about $3 billion, AGL Resources, a natural gas
distributor, didn't hesitate to participate in the XBRL voluntary filing
program alongside large multinational companies such as General Electric,
PepsiCo and Microsoft.
August 12, 2008
XBRL Validation - Can It Be Trusted? - Compliance Week
Article
The Securities and Exchange Commission can mandate use of XBRL technology
for financial reporting all it wants. Ultimately, however, the investing
public must take one key action to make companies' investments in XBRL worth
all that time and money.
June 4, 2008
Mandatory Use of XBRL May Bring Benefits to BI Reporting -
Enterprise Systems article
"[I]n the short term, you may need to augment your CPM applications with
XBRL tagging tools. Investigate vendors like Snappy Reports, Rivet Software
and UBmatrix," counsels analyst Neil Chandler in a Gartner research note.
May 26, 2008
XBRL to Create True, National Fund Supermarket - Money
Management Executive Story
"There has already been heavy interest in the Mutual Fund Prospectus Viewer
we created for the SEC," said Mike Rohan, president of Rivet Software. "An
interactive data standard is gaining widespread interest since it allows
investors to easily compare risk and return information and fund objectives
across multiple funds."
May 22, 2008
Rivet Viewers Covered in WebCPA Article
Approximately 10,000 users have accessed the viewer in the past month,
according to Rivet Software president Mike Rohan (pictured), whose company
developed the viewer. "You can compare the objectives, risks and returns of
the different funds in a really easy way," he said. "You don't have to thumb
through all the paper they typically deliver."
May 14, 2008
SEC Proposes New Way for Investors to Get Financial Information on
Companies
"The Securities and Exchange Commission today voted unanimously to formally
propose using new technology to get important information to investors
faster, more reliably, and at a lower cost."
May 5, 2008
Securities Regulators, CEOs, CFOs, and Business Leaders from 37
Countries Convene to Demonstrate XBRL in Action
"XBRL International, Inc. (XII), a global consortium dedicated to the
development and adoption of XBRL, convened the 17th XBRL International
Conference today in the Netherlands. Drawing more than 300 prominent
securities regulators, business and financial executives, analysts,
investment professionals and software developers from 37 countries"
April 30, 2008
Crossfire is Mentioned in MSN Money Article
If you consider the potent mix of full transparency, minimal costs and
real-time access to data on the horizon, it's easy to imagine where this
might go..
(To get a rudimentary sense of how investors might exploit an
XBRL database, check out the demos at Rivet Software Crossfire.)
February 2008
Dragon Tag Featured in the Journal of Accountancy Article
"Six Steps to XBRL"
The purpose of this article is to give CPAs unfamiliar with XBRL an
opportunity to see that assigning XBRL tags to financial statements does not
require specialized expertise, but rather is something that any CPA can do
with the help of software tools and a little practice. The article explains
step by step how to tag a simple income statement for a sample company. The
authors selected Rivet Software's Dragon Tag to create their document
because it is currently the most common tool used by issuers participating
in the SEC's voluntary filing program.
