SAP has announced the availability of SAP BusinessObjects XBRL Publishing application by UBmatrix, a new extensible business reporting language application to communicate financial and business information.
The company said that SAP BusinessObjects XBRL Publishing promotes flexible compliance reporting and enables customers to leverage their existing SAP investments, including those in SAP BusinessObjects Planning and Consolidation application, SAP BusinessObjects Financial Consolidation application and SAP Business Suite software.
The company also said that the new application is the first in a series of co-innovations featuring embedded UBmatrix technology in SAP BusinessObjects applications, the result of a new partnership between the two companies.
SAP BusinessObjects XBRL Publishing creates extensible business reporting language (XBRL) from financial and business data. Like bar-coding, XBRL assigns electronic tags to individual items of data, which are then read and understood by financial and business applications, as well as electronic-filing systems from authorities like the Securities and Exchange Commission.
Sanjay Poonen, senior vice president and general manager for performance optimization applications of BusinessObjects division at SAP, said: SAP BusinessObjects XBRL Publishing helps customers to complete filings, supporting their efforts to comply with these new regulations. SAP continues to lead the enterprise performance management market by delivering innovation that helps our customers stay one step ahead of the game as a business.
