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
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.
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