Business Objects, Edgar Online, and Ipedo deliver industry's first XBRL-enhanced business intelligence solution
SAN JOSE, Calif. & SOUTH NORWALK, Conn. & REDWOOD CITY, Calif., June 20, 2005 -- Business Objects (Nasdaq:BOBJ)(Euronext Paris ISIN code: FR0004026250 - BOB), EDGAR(R) Online(R), Inc. (Nasdaq:EDGR), and Ipedo today announced the industry's first XBRL-enhanced business intelligence (XBRL-BI) solution to enable organizations to more efficiently access financial information to drive faster, more accurate financial analysis and better business decisions. The innovative XBRL-BI solution leverages the unique capabilities of BusinessObjects(TM) XI, the industry's most advanced and complete business intelligence platform, EDGAR Online's I-Metrix(TM) suite of XBRL-based products, and Ipedo XIP, a complete enterprise information integration platform.
Increasing volumes of complex financial information and regulatory requirements have created challenges for public organizations wanting to share company information with financial analysts and investors for reporting and analysis. Utilizing financial filings from EDGAR Online's I-Metrix Web Service and Ipedo's XIP integration platform, BusinessObjects XI allows research analysts, institutional investors, fund managers, regulators, and corporate officers to gain insight into market conditions directly from corporate filings, as they happen. The integrated XBRL-BI solution, based on the industry standard eXtensible Business Reporting Language (XBRL), combines financial domain knowledge with data integration best practices to deliver a pre-built data repository ready for financial analysis.
"Business Objects, EDGAR Online, and Ipedo have taken a leadership role by creating the first XBRL-enhanced business intelligence solution," said Lance Walter, vice president of product marketing for Business Objects. "Business Objects has the industry's most advanced and complete BI platform, and we remain focused on identifying innovative ways to leverage this platform to extend the use of business intelligence to additional users. This new solution will help organizations quickly access and analyze detailed financial data to improve their business performance. Business Objects continues to deliver leading-edge technology to the market ahead of Cognos and other BI vendors -- providing additional value to our customers and giving them a significant competitive advantage."
Together, Business Objects, EDGAR Online, and Ipedo enable trusted analysis and reporting directly on fundamental financial data found in the corporate financial filings submitted to the SEC. Business Objects was one of the first companies to begin filing its financial information to the SEC directly in XBRL format and believes XBRL to be an effective standard for financial reporting and analysis. As part of the solution, EDGAR Online's proprietary systems convert existing SEC data into XBRL, and then make it available via its I-Metrix suite of products. Ipedo then pulls the XBRL-tagged financial data from the EDGAR Online I-Metrix service, processes the financial data and business context, and delivers it to an XBRL-enhanced BusinessObjects universe, for use with the BusinessObjects XI business intelligence platform using Crystal Reports(R) or BusinessObjects Web Intelligence. In addition, companies can easily create management dashboards, scorecards, and performance management applications that leverage the financial data using the Business Objects BI platform.
"This joint solution is all about helping companies make better use of financial data to improve decision making and optimize performance," said Susan Strausberg, president and CEO of EDGAR Online. "Sarbanes-Oxley compliance requirements have expanded the need to access this data for internal and external analysis purposes. The integration of I-Metrix with the Business Objects and Ipedo software provides clients with a powerful tool to access and analyze detailed financial data tagged by XBRL."
"We are excited to be working with Business Objects and EDGAR Online to make this kind of real-time financial analysis possible," said Nick Zhang, CEO of Ipedo. "The combination of financial data in XML and SQL processing is a perfect fit for our dual-core query technology. We believe this solution opens a whole new dimension of business intelligence that will change the way companies use financial data to drive decisions."
About XBRL and Financial Reporting
XBRL is a freely available open standard for transmitting and sharing business information that enhances the usability of existing accounting and reporting standards and policies by providing a common digital business language. It enables producers and consumers of financial data to switch resources away from costly manual processes -- typically involving time-consuming comparison, assembly and re-entry of data -- and concentrate on financial reporting and analysis. XBRL is being developed by an international non-profit consortium of major companies, organizations and government agencies, including the world's leading accounting, technology, government and financial services bodies. The standard is currently in use around the world by the U.S. Securities and Exchange Commission (SEC), the Federal Deposit Insurance Corporation (FDIC), the Tokyo Stock Exchange, the U.K. Inland Revenue Service, among others. For additional information on XBRL, please visit XBRL International at http://www.xbrl.org.
About Business Objects
Business Objects is the world's leading business intelligence (BI) software company. With more than 30,000 customers worldwide, including over 80 percent of the Fortune 500, Business Objects helps organizations gain better insight into their business, improve decision making, and optimize enterprise performance. The company's business intelligence platform, BusinessObjects(TM) XI, offers the BI industry's most advanced and complete platform for reporting, query and analysis, performance management, and data integration. BusinessObjects XI includes Crystal Reports(R), the industry standard for enterprise reporting. Business Objects has built the industry's strongest and most diverse partner community, and also offers consulting and education services to help customers effectively deploy their business intelligence projects.
Business Objects has dual headquarters in San Jose, Calif., and Paris, France. The company's stock is traded on both the Nasdaq (BOBJ) and Euronext Paris (ISIN: FR0004026250 - BOB) stock exchanges. More information about Business Objects can be found at www.businessobjects.com.
About EDGAR(R) Online(R), Inc.
EDGAR Online, Inc. (Nasdaq:EDGR), www.edgar-online.com, is a leading provider of value-added business and financial information on global companies to financial, corporate and advisory professionals. The Company makes its information and a variety of analysis tools available via online subscriptions and licensing agreements to a large user base.
Ipedo delivers innovative enterprise information integration software that provides on-demand intelligence to users. The award-winning Ipedo XIP platform combines powerful SQL and XML Query processing, enabling organizations to fuse together information from any database, content source or Web Service. Customers in financial services, government, life sciences, manufacturing, and high technology organizations rely on its patented Dual-Core Query Architecture(TM) to power a range of business critical applications. Ipedo is available on the Web at www.ipedo.com.
Business Objects and the Business Objects logo, BusinessObjects, and Crystal Reports are trademarks or registered trademarks of Business Objects S.A. or its affiliated companies in the United States and/or other countries. Ipedo, Ipedo XIP and Dual-Core Query Architecture are trademarks of Ipedo. EDGAR(R) is a federally registered trademark of the U.S. Securities and Exchange Commission (SEC). EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission. All other products and services mentioned are trademarks of their respective companies.
Peter Olson, 408-953-6320 firstname.lastname@example.org
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