-- New versions of Rivet's Dragon Tag® XBRL Enabler and Dragon View®
XBRL Viewer allow non-technical business users to easily create and view
interactive data documents. Already used by most participants in the SEC's
Voluntary Filing Program, Dragon Tag works with Microsoft Excel and Word to
convert financial statements (including notes to financials) into
interactive data documents ready for filing with the SEC.
-- Two new interactive data viewers, created by Rivet under contract by
the SEC, are now available on the SEC public web site. The viewers include
the Mutual Fund Risk and Return Viewer and an updated viewer for
displaying, comparing, printing and exporting financial statements (with
accompanying notes and other disclosures) based on the new XBRL U.S. GAAP
taxonomies.
-- Open Source license that permits free use, modification and
distribution of the new versions of Rivet's Dragon Tag and Dragon View
products.
-- CrossTag™ XBRL Creator, a web-based, collaborative document
conversion and tagging solution that uses workflow and an advanced user
interface to control and track the entire XBRL document creation and review
process. CrossTag is designed to help preparers handle XBRL terminology,
and to automate and streamline the tagging of text, such as with notes to
financials or mutual fund prospectuses.
"Rivet enthusiastically supports this latest action by the SEC
Commissioners and applauds Chairman Christopher Cox who has been an
outspoken visionary of the new global standard for sharing business and
financial information," said Michael Rohan, president of Rivet Software.
"As the global community continues to march towards one standard, we will
continue to build proven solutions based on the XBRL standard that meet the
needs of filers and investors."
Rivet has been working closely with the SEC and XBRL U.S., who have
recently announced the completion of the U.S. GAAP taxonomies. The company
has prepared and tested new versions of its products to support these new
taxonomies and to help preparers to easily file XBRL documents. All new
Rivet products are designed on a foundation of more than four years of
development, testing and extensive use by SEC filers and others.
Dragon Tag 3.0 and Dragon View 3.0: Developed for corporations, assurance
professionals and filing service providers who will be impacted by the
proposed SEC interactive data requirement, Dragon Tag 3.0 and Dragon View
3.0 provide enhanced functionality and full support for the new U.S. GAAP
taxonomies as well as most internationally recognized public taxonomies.
Mutual Fund Risk and Return Viewer: An online viewer to display
prospectuses filed with the SEC in interactive data format, the Mutual Fund
Risk and Return Viewer enables users to easily compare and contrast fund
objectives, risk and prior and prospective returns.
Financial Statement Viewer: Rivet Software built the original interactive
data viewer for the SEC in April of 2007, and just delivered a revised
version to display financial statements based on new U.S. GAAP taxonomies.
All of the viewers produced by Rivet for the SEC are available as open
source software.
Dragon Tag and Dragon View Open Source: Rivet has released the new versions
of Dragon Tag and Dragon View with open source licenses for free use,
modification and distribution by other companies. Unlike many open source
providers, Rivet has released the full and complete versions of Dragon Tag
3.0 and Dragon View 3.0 into open source. Rivet will continue to offer
fully supported commercial versions of its products, but the company offers
its open source products with full functionality to encourage end-users and
software developers to embrace interactive data and the XBRL standard.
CrossTag: Rivet also announced a new product, CrossTag™ XBRL Creator.
CrossTag is a web-based, collaborative document conversion and tagging
solution that completely shields typical preparers from the complexity of
XBRL. CrossTag was first demonstrated in May of 2007, and released for beta
testing (as Project Genesis) in October of 2007. The product allows
non-technical users to easily convert financial statements, prospectus and
other business information, including notes, text and comments, into XBRL
documents.
Support and Services: Rivet provides a full range of support and services
for users, including SEC filers, filing service companies, investors,
regulators and private companies. Rivet team members that provide customer
support, training and other advice have backgrounds as accountants, CPAs,
financial analysts and similar professionals.
Availability: Dragon Tag 3.0 and Dragon View 3.0 are currently available
for beta use and will be generally available in June of 2008. Open Source
versions of these products are currently available at RivetSoftware.com and
sourceforge.net. CrossTag will be available for beta use as a hosted or
locally installable application in Q2 2008. SEC viewers are currently
available on the sec.gov public web site.
About Rivet Software:
Rivet develops innovative, easy-to-use Financial Communications and
Analysis software, including XBRL creation and viewing applications, and
Crossfire® Analyst, a web-based financial aggregation, analysis and
publishing solution designed for accounting, finance and other business
users. Rivet Software, based in Denver, Colorado, supports its products
with training, user assistance and consulting services. Rivet has provided
software and assistance to over half of the filers in the SEC Voluntary
Filing Program. For additional information, please visit
www.rivetsoftware.com.
© 2008 Rivet Software, Inc. All rights reserved. Rivet, i-Fi, Crossfire,
CrossTag, DragonTag and DragonView are either registered trademarks or
trademarks of Rivet Software, Inc. in the United States and other
countries. XBRL is a registered trademark of XBRL International, Inc. All
other trademarks are the property of their respective owners.
Contact Information: Media Contacts: Felicia Mowll Ogilvy Public Relations Worldwide +1-212-880-5244 Christy Rohrs Rivet Software +1-720-249-2100