REDWOOD CITY, CA--(Marketwire - March 17, 2011) - Host Analytics, the leading provider of SaaS-based corporate performance management (CPM) solutions, and NeoClarus, a leading provider of Extensible Business Reporting Language (XBRL) based software solutions today announced a free offering to help first-time corporate XBRL filers comply with SEC regulations. This solution makes the required XBRL mapping and tagging process easier by providing an initial recommendation on XBRL mappings and extensions of key financial data.
"The message of fear, uncertainty, and doubt about the perils of XBRL process continues to be spread by XBRL software providers," said Jon Kondo, CEO at Host Analytics. "We are here to set the record straight, by partnering with NeoClarus to provide free XBRL mapping to companies unfamiliar with the process of doing so. This offering, coupled with Host Analytics' numerous XBRL training webinars can help companies lay out a plan for filing, alleviating the complexities of this newly mandated regulation."
The free offering from Host Analytics and NeoClarus works by identifying and recommending the tags for mapping a company's financial statements. From there, companies can review their statements in the context of the current XBRL taxonomy to understand the statements that need tagging and map them accordingly via an interactive interface. This solution allows users to identify items in their financial statements they want to represent differently to better conform to the XBRL tags, rather than filing extensions.
Extensible Business Reporting Language, or XBRL, is designed as a coded language for financial reporting, which allows users to create custom tags to identify different types of data. In 2009, the SEC issued a mandate requiring that public companies provide XBRL-formatted financial statements over a three-year phase-in schedule. This year, approximately 8,000 wave three companies, many of them small businesses with few resources, are required by law to file XBRL formatted financials for the first time.
"This is unfamiliar territory for many first time XBRL filers," said Satish Appalakutty, president of NeoClarus. "Many companies that are required to file XBRL for the first time this year have not yet focused on how they plan to complete the filing. The offering that we are announcing today takes the guessing game out of that unknown in a simple and cost-effective manner."
To access this free offer from Host Analytics and NeoClarus, please visit: http://marketing.hostanalytics.com/XBRL-Mapping-Offer.html. To learn more about the process of XBRL filing, including the fundamentals, essentials, and best practices, please view the Host Analytics/NeoClarus webinar series at the following location: http://www.hostanalytics.com/News-Events/Events_xbrl.aspx
Relevant links
Host Analytics/NeoClarus XBRL offer
About Host Analytics
The Host Analytics Decision Platform™ reveals the full implications of decisions -- both risk and reward. As the industry's first cloud-based corporate performance management (CPM) suite, Host Analytics improves budgeting, forecasting, financial consolidations, dashboarding, scorecarding, reporting and analysis to drive fact-based decisions for finance executives. Host Analytics serves midsize to large customer organizations including JP Morgan Chase, Procter & Gamble, Crocs, Thule, Otis Spunkmeyer, Schumacher and Red Roof Inn. Founded in 2000, Host Analytics was named among JMP Securities' Hot 100: The Best Privately Held Software Companies and the AlwaysOn OnDemand 100. The company has also received industry accolades such as the 2010 Ventana Research Leadership Award and the 2010 Editors' Choice Award From TechWeb's Intelligent Enterprise.
For additional information, visit http://www.hostanalytics.com/ or join the conversation at www.twitter.com/host_analytics.
About NeoClarus
NeoClarus (neoclarus.com) is a provider of eXtensible Business Reporting Language (XBRL) based software solutions to Enterprises, Auditors, Financial Printers and Data Aggregators worldwide. NeoClarus iFile is an easy-to-use, web-based software application used by financial printers and accounting professionals to file financial statements in XBRL. Besides iFile, NeoClarus also offers the iAudit solution that automates the validation of XBRL documents and iParser solution to extract relevant data from XBRL instance documents for data dissemination and analysis. NeoClarus is headquartered in Santa Clara, California and has offices in India.
Contact Information:
Contact Information:
Tami Casey
Kulesa Faul for Host Analytics
(650) 340-1984