UBmatrix Releases Enhanced Versions of its Market Leading XBRL Software

New Features Developed Based Developments in Large Scale, Real World Implementations

PALO ALTO, CA and KIRKLAND, WA – July 23, 2007 – UBmatrix, Inc., the leading provider of XBRL information exchange solutions, today announced the release of the latest versions of its three flagship XBRL software solutions: UBmatrix™ Processing Engine, UBmatrix™ Report Builder and UBmatrix™ Enterprise Application Suite.  The solutions are designed to address the growing demand for XBRL solutions, and include enhancements guaranteed to increase speed and efficiency of XBRL reporting and financial information exchange.

“UBmatrix is committed to providing the market’s most advanced XBRL solutions helping to drive the rapid adoption of XBRL across the world” said Sunir Kapoor, President and Chief Executive Officer of UBmatrix, Inc.

Growth in the use of XBRL (eXtensible Business Reporting Language) is accelerating in large part because a number of leading regulatory agencies and organizations have adopted XBRL as their financial reporting standard.  Both the U.S. FDIC and the European Union Central Bank Supervisors have adopted XBRL as their standard for bank reporting.  In addition, the U.S. Securities and Exchange Commission (SEC) appears to be on track to require XBRL filings

In a recent survey completed by Grant Thornton International, 51% of Chief Financial Officers (CFOs) surveyed said they expected XBRL will soon become the mandatory format for SEC filings.  Dozens of leading companies, including Ford Motor Co., General Electric, Microsoft, Pepsi Co., and Xerox, have signed on for participation in the SEC XBRL pilot program, and begun filing their 10-Qs and 10-Ks in the XBRL. 

“The growing adoption of XBRL for regulatory reporting is spurring startups to create a new generation of financial reporting tools,” said Neil Chandler, Research Director with Gartner in a March 2007 report entitled, “Cool Vendors in Finance and HCM, 2007”. “XBRL reporting will drastically reduce the time required to produce detailed and standardized internal and external financial reports, resulting in increased transparency, report production cost savings, and greater confidence in reporting accuracy and regulatory compliance.”

According to the Harvard Business Review, “XBRL makes it much easier to generate, validate, aggregate, and analyze business and financial information, which in turn will improve the quality, timeliness, completeness, and comparability of the information that companies use to make decisions.”

UBmatrix XBRL Solutions

UBmatrix provides a full suite of solutions and services that enable global corporations and regulatory agencies to realize the benefits of XBRL – from the underlying processing engine, to desktop development and deployment tools, all the way to packaged solutions for Basel II regulatory filings.

UBmatrix’s XBRL solutions are used today in advanced, demanding environments such as the Federal Deposit Insurance Corporation (FDIC), European central bank supervisors such as Banque de France, the global Microfinance Information eXchange, and leading global corporations participating in the SEC XBRL voluntary filing program.  UBmatrix is also pioneering efforts to integrate XBRL technology into existing technology stacks including databases and applications servers, in partnership with Oracle.

UBmatrix Processing Engine

Now shipping, the UBmatrix Processing Engine 3.1, is the core platform for the development and deployment of XBRL-based applications.  UBmatrix Processing Engine 3.1 is the market’s highest performing processing engine.  Version 3.1 raises the industry standards for XBRL platforms with the addition of powerful multithreading and streaming support.  Multithreading allows the processing engine to spread work across multiple CPUs, allowing organizations to increase engine throughput by adding more hardware.  The UBmatrix Processing Engine is designed for high volume, large scale business processing and provides taxonomy and instance document validation and conversion which allow for transformation of XBRL from and into Excel, CVS, XML or HTML.

The UBmatrix Processing Engine is built on an extensible architecture and enables developers to easily integrate XBRL processing into Windows or Linux-based applications. The processing engine fully conforms to the latest XBRL standards and also supports formulas in anticipation of the upcoming XBRL International standard.

UBmatrix Report Builder

Also shipping, UBmatrix Report Builder Microsoft Edition 2.1 which combined with Microsoft^® Excel provides an excellent desktop tool for creating, interacting with, and validating XBRL documents. Report Builder leverages the familiar user interface of Microsoft Excel enabling users to easily prepare, review, and analyze data in XBRL documents. Report Builder fits equally well into manual or automated workflows. Preparers can assemble data using Excel’s standard user interface or populate a spreadsheet with data programmatically using the extensive Report Builder API. Because Report Builder comes with UBmatrix’s industry-leading XBRL engine, the document is guaranteed to be valid according to business rules taxonomy.

New features include the latest edition of the UBmatrix Processing Engine, which will ensure all Report Builder users can create and validate instance documents based on the most recent XBRL specifications; a built-in instance editor offering a list-view of reported values that can be sorted by various conditions; and improved XBRL mapping, making it easier to create Report Builder templates and map existing Excel spreadsheets.

UBmatrix Enterprise Application Suite

Finally, UBmatrix Enterprise Application Suite 3.5 is offered as the server-based suite for the deployment of large-scale XBRL-based reporting applications. The new version includes Taxonomy Manager, Reporting Manager and administration tools to provide greater access to and control of the reporting workflow. The solution also integrates with UBmatrix desktop development and deployment tools, Taxonomy Designer and Report Builder. UBmatrix Enterprise Application Suite is built on top of UBmatrix's proven processing engine for XBRL document validation and processing.

In addition to containing the latest edition of the UBmatrix Processing Engine, this latest edition of EAS offers  enhancements in both taxonomy management and reporting workflow. EAS now supports improved taxonomy browsing for both developers and end users with concept-level commenting. From a reporting workflow perspective, EAS now includes reporting windows, filters to pre-qualify report submissions and the ability to manage the relationship between submitters and analysts/examiners.

About UBmatrix

UBmatrix, Inc. is the leading provider of XBRL-based information exchange solutions for global organizations and enterprises allowing them to more efficiently and effectively address the challenges of business and financial information management, exchange and reporting.  XBRL is fast becoming the standard for financial information exchange and reporting demonstrated by the XBRL programs being driven by the SEC, FDIC and the European Central Bank Supervisors. UBmatrix XBRL solutions increase operational efficiency and financial transparency, and ensure reporting accuracy and regulatory compliance.  UBmatrix is based in Silicon Valley with development centers in Kirkland, WA, and New Delhi, India.  For further information, visit www.ubmatrix.com

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Dan Cahill

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dcahill@roaringcommunications.com