SAP launches first XBRL BusinessObjects collaboration

SAP has launched its first XBRL product in conjuction with BusinessObjects since it acquired the business intellligence software giant in 2007.

The latest product, SAP BusinessObjects XBRL Publishing, will be compatible with all BusinesObjects products and SAP.

James Fisher, senior director of solution marketing SAP said: 'There are a number of XBRL solutions, but at SAP we have a huge database and by bringing the solution to market, we have created a single point or application that can be used across all of the SAP [reporting] products.'

Fisher could see 'no reason' that would stop XBRL Publishing being used with competitors' software because it is based on Excel.

Extensible business reporting language, XBRL, is a type of technology that allows for comparability of financial information by tagging the data.

Companies across the world are preparing for adoption into XBRL as the SEC in the US is requiring companies to use the new technology language to submit its business/financial reports.

Supporters of XBRL claim the standard makes it easier for investors and shareholders to compare the performance of companies and can cut financial reporting costs for companies, but those who oppose the transition believe it adds unnecessary complexity.

Further reading:

XBRL talks the SEC's language

Simplified tax submissions for small businesses