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Rivet Software Recognized for Rapid Growth and Contributions to Overhaul Financial Information Reporting
Colorado Governor Bill Ritter shows support for the company’s outstanding success and positive impact on local economy
(5/13/2010)
Denver, CO– May 13, 2010 – Rivet® Software, a Denver-based company pioneering the future of global financial communications, today
announced the company's recent success, which included the hiring of nearly one hundred software development, accounting and finance professionals in Denver
over the past year and plans to hire another 40 professionals immediately. The company's explosive growth is fueled by key partnerships and the company's
direct sales success, resulting in more than a 50% increase in new business. The company was joined by Colorado Governor, Bill Ritter, in the celebration of
its success and accomplishments in bringing greater financial transparency to the global business community.
In response to several major corporate bankruptcies in the past few years, the U.S. Securities and Exchange Commission (SEC) mandated that all public
companies use eXtensible Business Reporting Language (XBRL) for their financial disclosure by 2011. Rivet Software anticipated and pioneered the benefits of
XBRL over 15 years ago. Today, the company provides public companies with the ability to easily collect, analyze and disseminate financial data, creating
greater financial transparency throughout the financial community. Over 150,000 hours went into developing Rivet Software's platform, which provides
easy-to-use tools and support for XBRL document creation, review and filing.
"With the SEC mandate for XBRL filings, companies have a more urgent need for a powerful, easy-to-use solution to assist with their internal and external
financial reporting and analysis," said Patrick Quinlan, CEO of Rivet Software. "We continue to extend our market leadership by bringing the industry's top
XBRL solution to even more companies. The Crossfire Financial Reporting Platform simplifies the regulatory compliance process which is difficult and time-consuming for
public companies."
Over 100 Fortune 500 companies have used a Rivet Software product to complete their SEC filings. Rivet Software has worked with both the SEC and filers
within the SEC's XBRL filing program since its inception. The second phase of mandated XBRL filings to the SEC begins for all large accelerated filers this
June. By June 2011, all remaining publicly-traded companies will be required to conform to the standards, with criminal charges pending for those that do not
use XBRL to file or fail to submit proper paperwork.
Individuals interested in working at Rivet Software should visit
http://www.rivetsoftware.com/company/career.aspx for more information on the specific open positions.
About Rivet Software:
Founded in 2002, Rivet Software (http://www.RivetSoftware.com) is headquartered in Denver, CO,
and is the leading XBRL internal and external financial information reporting provider serving more Fortune 500 companies in meeting their SEC
filings than any other company. With over 150,000 hours invested in their flagship platform -
Crossfire, Rivet Software provides
easy-to-use tools and support for XBRL document creation, review and filing. Leading the evolution of global business reporting, Rivet empowers
business users with control over the collection, analysis and dissemination of their internal and external financial information.
For press and media inquiries:
Stefanie Jones
Stefanie Jones Public Relations, Inc
sjones@sjonespr.com
303.388.8460
SOURCE Rivet Software
RELATED LINKS
http://www.rivetsoftware.com
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