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Fujitsu Unveils Interstage XWand Version 10
Significant Reductions in Time & Cost for Preparation and Analysis of Financial Reports Using Latest XBRL Specifications
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TOKYO and SUNNYVALE, CA -- (Marketwire) -- 11/19/08 -- Fujitsu Limited today announcedInterstage(R) XWand(R) Version 10, the latest release of its acclaimed XBRL(1) software designed to help companies increase transparency andgovernance around financial activities. The newest release is one of theindustry's first offerings to incorporate the power of business rules inXBRL-based reporting with the adoption of XBRL Formula 1.0 (2), the latestextension to the XBRL specification. Early test results in customerenvironments have shown significant reductions in the time and costassociated with verifying and submitting financial reports.
The U.S. Securities and Exchange Commission (SEC) has proposed a newmandate which would require companies using U.S.-based generally acceptedaccounting principles (GAAP) with a market capitalization of more than $5billion to use XBRL for financial disclosure beginning in 2009. All publiccompanies would follow suit by 2011. This is one of several globalinitiatives aimed at financial reform. As a founding member of XBRL Japanand former chair of the XBRL International's Specification WG, Fujitsucontinues to drive the development and adoption of the specification acrossthe realm of financial reporting. Interstage XWand Version 10 incorporatesthe latest efforts of XBRL International.
Fujitsu launched the Interstage XWand software in 2003. The product hassince been adopted by customers in 23 countries, helping to make XBRL aninternational standard for financial reporting.
News Highlights
-- Interstage XWand Version 10 conforms with Formula 1.0, the latest extension to the XBRL specification-- Data can be extracted directly from Microsoft(R) Excel(R) spreadsheets to automatically create XBRL reports -- without any prior knowledge of XBRL-- A data-mapping function lets users easily convert XBRL data into formats that can be used by other common databases and systems
Benefits and Features
-- Reduces time and cost associated with the verification, submission, and analysis of financial reports -- Formula 1.0 is the business rule-related specification for XBRL -- With the use of rules, organizations can validate reports quickly to eliminate discrepancies prior to submission -- Early test results have shown a significant reduction of up to 50% in time and up to 40% in cost associated with the submission-and- correction cycle of financial reports -- Simplifies XBRL report-creation by leveraging Microsoft Excel(R) spreadsheets -- Allows use of Microsoft Excel spreadsheets to create XBRL documents, thereby eliminating the need for prior knowledge of XBRL -- Eliminates time and complexity associated with dealing with a new format, thus removing potential hurdles to adoption -- XBRL reports created using Microsoft Excel will also be validated by Formula 1.0 -- Reduces the burden and cost of handling data by automatically converting XBRL report data into formats that can be used by other systems -- A data mapping function automatically converts XBRL data into CSV format, the most common format for data exchange -- CSV data can easily be loaded into databases and other systems -- Speeds up data handling operations
Quotes
Akira Yamanaka, Corporate Vice President and President of Software Unit,Fujitsu Limited
"XBRL is the future for transparency in financial activities, and Fujitsucontinues to lead the industry in helping companies prepare for this newreality. In an era when financial activities will be more heavilyscrutinized than before, Fujitsu is making it easier, simpler, and morecost-effective to not only adopt XBRL for compliance, but to also go beyondcompliance and gain far greater efficiency in financial processes."
Notes1) XBRL eXtensible Business Reporting Language is an XML-based standard that describes financial data and facilitates the creation, distribution, and reuse of business reports. XBRL International, a standards organization, promotes the specification development and adoption of the XBRL specification. XBRL greatly reduces costs to create, distribute, and reuse digitalized business reports.2) Formula 1.0 An extension of the XBRL 2.1 Specification, defining the calculation methods between different data items. It can detect errors in data values.
Related Links
Fujitsu Interstage XWand
Webinar - Automated XBRLReporting
How XBRL TransformedFujitsu's IT Platform
Case Studies - Featuring Bank of Spain, Tokyo StockExchange, United Technologies Corp., and the Financial Services Agency inJapan
XBRL for Financial Reporting & Beyond
XBRL International
SEC Votes to Require Data 'Tagging' in Reports
SEC Maps Interactive Data-filing Mandate
NewData Format May Uncover Company Misdeeds
About Fujitsu Computer Systems Corporation
Headquartered in Sunnyvale, Calif., Fujitsu Computer Systems is a whollyowned subsidiary of Fujitsu Limited (TSE: 6702) committed to the design,development and delivery of advanced computer systems, applicationinfrastructure software products, and managed services for the businessenterprise. Through its TRIOLE(R) strategy, the company offers a completeline of scalable and reliable servers, storage and middleware solutions,high-performance mobile and client computers, as well as professionalservices. Fujitsu Computer Systems has established itself as a strategicsolutions provider to the world's leading organizations by offeringtechnology innovation, customer choice, exceptional product quality andreliability, as well as outstanding customer service. Seehttp://us.fujitsu.com/computers for further information.
About Fujitsu
Fujitsu is a leading provider of IT-based business solutions for the globalmarketplace. With approximately 160,000 employees supporting customers in70 countries, Fujitsu combines a worldwide corps of systems and servicesexperts with highly reliable computing and communications products andadvanced microelectronics to deliver added value to customers.Headquartered in Tokyo, Fujitsu Limited (TSE: 6702) reported consolidatedrevenues of 5.3 trillion yen (US$53 billion) for the fiscal year endedMarch 31, 2008. For more information, please see: www.fujitsu.com.
Fujitsu, the Fujitsu logo, Interstage, XWand and TRIOLE are trademarks orregistered trademarks of Fujitsu Limited in the United States and othercountries. Microsoft and Excel are trademarks or registered trademarks ofMicrosoft Corporation in the United States and/or other countries. Allother trademarks and product names are the property of their respectiveowners.
The statements provided herein are for informational purposes only and maybe amended or altered by Fujitsu Computer Systems Corporation withoutnotice or liability. Product description data represents Fujitsu designobjectives and is provided for comparative purposes; actual results mayvary based on a variety of factors. Specifications are subject to changewithout notice.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=878819Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=878822
Press Contacts:Karen RichardsonFujitsu Computer Systems Corporation408-746-3300Email ContactBrigit ValenciaEastwick Communications650-480-4019Email Contact
Fujitsu launched the Interstage XWand software in 2003. The product hassince been adopted by customers in 23 countries, helping to make XBRL aninternational standard for financial reporting.
News Highlights
-- Interstage XWand Version 10 conforms with Formula 1.0, the latest extension to the XBRL specification-- Data can be extracted directly from Microsoft(R) Excel(R) spreadsheets to automatically create XBRL reports -- without any prior knowledge of XBRL-- A data-mapping function lets users easily convert XBRL data into formats that can be used by other common databases and systems
Benefits and Features
-- Reduces time and cost associated with the verification, submission, and analysis of financial reports -- Formula 1.0 is the business rule-related specification for XBRL -- With the use of rules, organizations can validate reports quickly to eliminate discrepancies prior to submission -- Early test results have shown a significant reduction of up to 50% in time and up to 40% in cost associated with the submission-and- correction cycle of financial reports -- Simplifies XBRL report-creation by leveraging Microsoft Excel(R) spreadsheets -- Allows use of Microsoft Excel spreadsheets to create XBRL documents, thereby eliminating the need for prior knowledge of XBRL -- Eliminates time and complexity associated with dealing with a new format, thus removing potential hurdles to adoption -- XBRL reports created using Microsoft Excel will also be validated by Formula 1.0 -- Reduces the burden and cost of handling data by automatically converting XBRL report data into formats that can be used by other systems -- A data mapping function automatically converts XBRL data into CSV format, the most common format for data exchange -- CSV data can easily be loaded into databases and other systems -- Speeds up data handling operations
Quotes
Akira Yamanaka, Corporate Vice President and President of Software Unit,Fujitsu Limited
"XBRL is the future for transparency in financial activities, and Fujitsucontinues to lead the industry in helping companies prepare for this newreality. In an era when financial activities will be more heavilyscrutinized than before, Fujitsu is making it easier, simpler, and morecost-effective to not only adopt XBRL for compliance, but to also go beyondcompliance and gain far greater efficiency in financial processes."
Notes1) XBRL eXtensible Business Reporting Language is an XML-based standard that describes financial data and facilitates the creation, distribution, and reuse of business reports. XBRL International, a standards organization, promotes the specification development and adoption of the XBRL specification. XBRL greatly reduces costs to create, distribute, and reuse digitalized business reports.2) Formula 1.0 An extension of the XBRL 2.1 Specification, defining the calculation methods between different data items. It can detect errors in data values.
Related Links
Fujitsu Interstage XWand
Webinar - Automated XBRLReporting
How XBRL TransformedFujitsu's IT Platform
Case Studies - Featuring Bank of Spain, Tokyo StockExchange, United Technologies Corp., and the Financial Services Agency inJapan
XBRL for Financial Reporting & Beyond
XBRL International
SEC Votes to Require Data 'Tagging' in Reports
SEC Maps Interactive Data-filing Mandate
NewData Format May Uncover Company Misdeeds
About Fujitsu Computer Systems Corporation
Headquartered in Sunnyvale, Calif., Fujitsu Computer Systems is a whollyowned subsidiary of Fujitsu Limited (TSE: 6702) committed to the design,development and delivery of advanced computer systems, applicationinfrastructure software products, and managed services for the businessenterprise. Through its TRIOLE(R) strategy, the company offers a completeline of scalable and reliable servers, storage and middleware solutions,high-performance mobile and client computers, as well as professionalservices. Fujitsu Computer Systems has established itself as a strategicsolutions provider to the world's leading organizations by offeringtechnology innovation, customer choice, exceptional product quality andreliability, as well as outstanding customer service. Seehttp://us.fujitsu.com/computers for further information.
About Fujitsu
Fujitsu is a leading provider of IT-based business solutions for the globalmarketplace. With approximately 160,000 employees supporting customers in70 countries, Fujitsu combines a worldwide corps of systems and servicesexperts with highly reliable computing and communications products andadvanced microelectronics to deliver added value to customers.Headquartered in Tokyo, Fujitsu Limited (TSE: 6702) reported consolidatedrevenues of 5.3 trillion yen (US$53 billion) for the fiscal year endedMarch 31, 2008. For more information, please see: www.fujitsu.com.
Fujitsu, the Fujitsu logo, Interstage, XWand and TRIOLE are trademarks orregistered trademarks of Fujitsu Limited in the United States and othercountries. Microsoft and Excel are trademarks or registered trademarks ofMicrosoft Corporation in the United States and/or other countries. Allother trademarks and product names are the property of their respectiveowners.
The statements provided herein are for informational purposes only and maybe amended or altered by Fujitsu Computer Systems Corporation withoutnotice or liability. Product description data represents Fujitsu designobjectives and is provided for comparative purposes; actual results mayvary based on a variety of factors. Specifications are subject to changewithout notice.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=878819Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=878822
Press Contacts:Karen RichardsonFujitsu Computer Systems Corporation408-746-3300Email ContactBrigit ValenciaEastwick Communications650-480-4019Email Contact
For more information, go to www.marketwire.com
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