UBmatrix Announces the First Web-Based Solution for XBRL-Enabled Business Reporting

KIRKLAND, Wash.--()--Oct. 18, 2004--

  The Universal Business Server(TM) redefines the economics of business reporting through a global standard -- reducing costs, time and errors.  



UBmatrix, a leading provider of open world standards enabling automated business reporting and analysis to optimize enterprise performance, announced today the first web-based solution to provide customers with feature-rich XBRL business reporting capabilities. The technology foundation is XBRL (eXtensible Business Reporting Language), a standard method to prepare, publish, exchange, validate, and analyze business information.

The Universal Business Server(TM) includes a full-featured management environment designed for large-scale metadata management. A powerful XBRL processor is integrated within an XBRL application development suite for enabling web-based applications for the automation of data exchange, validation and analysis.

Enterprise benefits

Enterprises will benefit from access to consistent and valid XBRL documents and graphical representations of metadata integration into their business and financial applications. The Universal Business Server(TM) will enable users to manage the process and lifecycle of metadata, including an audit trail of taxonomy development activities by user enabling the publishing and updating of taxonomies; maintain, track and change taxonomies; and to re-submit data and run what-if scenarios. This enables business planners with easy access to data needed for in-depth analysis.

UBmatrix' Universal Business Server(TM) will allow customers to increase the efficiency and reduce the costs associated with business reporting processes and workflows while ensuring that their business reporting content is accurate, easily extractable and reusable, and distributed to all users in a timely fashion.

Deploying XBRL-enabled business and financial applications with The Universal Business Server(TM) will enable organizations with large-scale deployments to aggregate data from diverse applications and data stores, and to generate electronic reports that are automatically validated and accurate without human manipulation.

The Universal Business Server(TM) provides formula validation for computational and complex business rules. This powerful capability enables users to create XBRL rule bases to automatically validate the accuracy of instance documents, eliminating costly errors.

Users will be able to create a flexible system that works within their existing IT infrastructure. The solution leverages XBRL to maximize legacy systems, enabling organizations to efficiently electronically exchange and analyze diverse formats of business information.

"We are pleased to have a technology leader like UBmatrix working so closely with our industry to deliver flagship XBRL business reporting solutions," said Vincent Bert, senior manager at Atradius, the world's second-largest credit insurer. "Their XBRL solutions will benefit us by offering extremely easy access to quality information and helping us increase the number and the quality of automated credit risk decisions we make. I also see great benefits for our industry to optimize workflow and extend communications with credit insurers, information providers and other parties, while delivering faster, more extensible and reliable information flow."

"The Universal Business Server(TM) development has come from implementations that we built for various XBRL-enabled business reporting pilots around the world," said George Blackstone, President and CEO of UBmatrix. "What we are doing is leveraging our technology development and intellectual property to create a powerful solution for the business community globally. We are very excited to be able to provide our customers with robust, automated, and reliable web-based server solutions that dramatically improve their business reporting capabilities."

Universal Business Reporting Framework

The Universal Business Server(TM) represents a significant part of UBmatrix' end-to-end XBRL solutions that fit into our Universal Business Reporting Framework. Within this framework are UBmatrix products such as Automator XBRL Professional; a desktop application for creating and deploying XBRL taxonomies (data dictionaries) and instance documents (reporting documents). There are Web Services supporting the integration of XBRL and other functional capabilities. Additionally, business process re-engineering is incorporated with the consulting services that UBmatrix and its system integration partners provide to enterprises, financial services, regulators, and healthcare organizations.

About UBmatrix

UBmatrix is a leading provider of open world standards enabling automated business reporting and analysis to optimize enterprise performance. The Company's XBRL solutions help organizations improve operational efficiency, align business strategy with day-to-day execution and enhance relationships with customers and partners.

Our XBRL solutions enable greater data transparency to increase enterprises' effectiveness as they depend on timely, relevant, extractable, and reliable data. UBmatrix XBRL solutions automate the process of integrating business information -- transforming static data into reusable and extensible data that is easier to facilitate.

UBmatrix has been committed to XBRL since 1998, credited as being one of the originators of XBRL, and recognized worldwide for its vision, technology and customer commitment.

The company is headquartered in Kirkland, Washington, with offices in Australia, Japan, Korea, Singapore, the Netherlands and the United Kingdom. UBmatrix can be reached at 425-285-0200 or www.ubmatrix.com.

Contacts

UBmatrix, Kirkland
Marc Goodman, 425-285-0200
marc.goodman@ubmatrix.com

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Contacts

UBmatrix, Kirkland
Marc Goodman, 425-285-0200
marc.goodman@ubmatrix.com