Solutions That Set New Standards in Financial Reporting
Fujitsu Software Corporation and DynAccSys today announced a partnership to deliver financial applications based on the eXtensible Business Reporting Language (XBRL), the industry standard for online financial reporting. Under terms of the agreement, DynAccSys will use Interstage XWand, Fujitsu’s industry-leading XBRL software toolkit, to develop the XABRA Tools. This XBRL-enabled application system allows for seamless data exchange and integration among disparate systems and permits compliance with financial reporting mandates, such as Sarbanes-Oxley and Basel II. DynAccSys, a provider of enterprise technology, consulting services and accounting solutions, will deliver the XABRA solution to its customer base of mid-size businesses and federal government agencies.
XABRA is an XBRL-based application that offers a complete solution for extracting and standardizing data for XBRL-based business processes. XABRA accepts data in different formats, such as CSV files or dynamically defined SQL queries; standardizes it through the XBRL General Ledger taxonomy; and produces XBRL Instance Documents for consumption by reporting and non-reporting business processes. By eliminating manual retyping and paperwork, and delivering data in XBRL standard formats, XABRA is expected to significantly reduce costs in the financial and business reporting supply chain.
The XABRA Tools consist of:
- XABRA Binder – Binds SQL queries or CSV files to link taxonomy definition files to create real-time Instance Documents for consumption by XBRL-enabled systems.
- XABRA Constructor – Allows users to graphically link XBRL taxonomies to user-defined SQL or CSV and save the resulting relationships for re-use. Additionally, real-time XBRL Instance Documents are generated through XABRA Binder via the click of a mouse.
- XABRA Engine – A J2EE-based server component designed to generate and post-process
- XBRL Instance Documents and related taxonomies into multiple human readable formats, like HTML, PFD or Word documents.
“Our customers include a range of users with very different levels of experience, from compliance officers who understand XBRL to knowledge workers with no formal training in finance or accounting,” said Lisa Miller, president of DynAccSys. “Fujitsu’s Interstage XWand provides us with the rich functionality and proven, robust performance to quickly and cost effectively deliver XBRL-enabled applications that support financial reporting and compliance best practices across the entire organization.”
Fujitsu’s Interstage XWand is the first fully XBRL 2.1-compliant development and runtime environment supporting Java and .NET. With Interstage XWand, companies can build and deploy full-featured, industrial-strength XBRL applications that:
- Allow organizations to comply with financial reporting mandates, such as Sarbanes-Oxley and Basel II.
- Simplify analysis of corporate accounting statements for investment portfolio, risk review and loan purposes.
- Improve financial reporting processes and provide greater transparency for corporations, regulatory bodies and investment firms.
- Meet IRS requirements for companies to file their financial data in the XBRL standard.
“Interstage XWand is the XBRL-enablement solution of choice among regulatory bodies of the world’s major financial centers that are focused on regulatory compliance and greater transparency in financial reporting through XBRL,” said Robert Sepanloo, senior vice president of Interstage at Fujitsu Software Corporation. “With DynAccSys, the power of XBRL will be extended to mid-size businesses and federal government agencies through Interstage XWand-based applications that set a new standard for financial reporting.”
Established in 1982, DynAccSys makes enterprise-class technology and accounting solutions accessible and affordable for the medium size business and the Federal Government.
Its unique blend of business lines links Software Development, professional and consulting services in Accounting and Business Operations and Application Hosting expertise to provide to its customers the right solution for their needs, and to enable them to put it to work effectively.
As a leading edge custom software developer, DynAccSys designs and builds solutions to solve complex business problems. Innovative thinking has yielded design breakthroughs such as automated adjustment tools for complex business and accounting processes, XML/XBRL-based reporting engines, and other tools to facilitate data consolidation and financial reporting. To learn more about DynAccSys, visit www.dynaccsys.com. For more information on XABRA Tools, visit www.xabratools.com.
About Fujitsu Software Corporation
Fujitsu Software Corporation, based in Sunnyvale, California, is part of the Fujitsu Limited (TSE:6702) family. The wholly owned subsidiary delivers one of the world’s broadest lines of application infrastructure software products, including the Interstage® Suite and NetCOBOL®. Fujitsu Software Corporation leverages Fujitsu’s international scope and expertise in developing and providing information technology solutions, including more than 4,000 software developers worldwide. To learn more about the Interstage Suite, visit www.fujitsu.com/interstage.
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Copyright 2005 Fujitsu Software Corporation. Fujitsu, the Fujitsu Symbol Mark, and Interstage are registered trademarks of Fujitsu Limited. All Interstage products and components are trademarks of Fujitsu Limited and Fujitsu Software Corporation. XBRL® is a registered trademark of the American Institute of Certified Public Accountants. All other registered trademarks, trade names, or service marks mentioned in this document are the property of their respective owners.
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