Rivet Software Announces Crossfire™ Compliance for Mutual Funds

DENVER, Nov. 15, 2010 /PRNewswire/ -- Rivet Software, the leading provider of standards-based business reporting and analytics, announced today the availability of Crossfire™ Compliance for Mutual Funds, a powerful software application designed specifically to support the reporting and analysis needs of mutual fund companies. Based on eXtensible Business Reporting Language (XBRL), Crossfire Compliance for Mutual Funds simplifies the development and submission of risk/return summaries in XBRL format, as well as the creation of comparison and benchmark reports.

According to the mandate issued by the Securities and Exchange Commission (SEC), all open-end mutual fund companies must submit their risk/return summary information in XBRL-format beginning in January 2011. Crossfire Compliance for Mutual Funds simplifies what could be a complex and overwhelming process by providing a variety of solution options for companies of all sizes.

Crossfire Compliance for Mutual Funds is the only service and software offering on the market that provides support to companies looking to tag their data in-house, as well as companies wanting to outsource the entire process. From self-service to full-service, Crossfire Compliance for Mutual Funds provides easy-to-use tools and reports that allow mutual fund companies to meet the mandate, and then use the data to make smarter business decisions. Each step in the tagging and analysis process is supported by Rivet's professional services team comprised of mutual fund experts, XBRL technologists and other finance professionals.

"Crossfire Compliance for Mutual Funds takes the industry's most proven and trusted XBRL-based platform and extends it to meet the needs of the mutual fund industry," said Raul Varela, VP of Strategic Partnerships at Rivet Software. "Whether a company wants to tag data internally or utilize Rivet's team of tagging experts, Crossfire allows companies to easily meet the SEC mandate, then access and consume the information in ways never before available to make strategic decisions. It's exciting to be at the forefront of this information revolution, and Rivet is proud to be helping so many companies realize the true power of XBRL data."

Functionality features of Crossfire Compliance for Mutual Funds include:

Easy Information Access

Users do not have to be technology experts to tag and analyze data with Crossfire Compliance for Mutual Funds. Designed for business users, by business users, data can be easily exported to Microsoft Excel or Word and shared with the entire management team.

Integrated Online Reviewer's Guide

Our integrated Reviewer's Guide allows preparers and reviewers to closely collaborate from inception to completion through the filing process. This "single document" system streamlines the process to reduce time while maintaining data integrity.

Review Risk/Return Summary Information

Crossfire Compliance for Mutual Funds makes it easy to view, compare and analyze data from any SEC Mutual Fund and compare your data with that of other SEC filers.

Create Easy-to-Read Online Reports

Posting company filings makes the information more easily consumable by a variety of stakeholders. Crossfire Compliance for Mutual Funds converts XBRL filings into an HTML "reporting book" that viewers can access and easily read.

Professional Services Team

Along with easy-to-use Crossfire technology and product training, Rivet customers also receive ongoing support from one of the industry's most experienced teams of XBRL and mutual fund experts.

Scalable for Companies of All Sizes

The Crossfire platform can accommodate the needs of organizations of any size. It has been rigorously tested and used to meet the challenging demands of completing hundreds of filings in a timely manner.

Crossfire Compliance for Mutual Funds is a Software-as-a-Service (SaaS) solution based on the Crossfire Financial Reporting Platform. The platform leverages Microsoft® Excel, SharePoint and SQL Server technologies and runs in a web browser. More information on the platform solution can be found at www.rivetsoftware.com/products.

About Rivet Software

Founded in 2002, Rivet Software is headquartered in Denver, CO, and is the pioneer in standards-based business reporting and analytics, serving public and private companies, regulatory agencies and investors worldwide. Rivet enables more Fortune 500 companies in meeting their SEC filings than any other company. Rivet empowers companies with control over the collection, analysis and dissemination of their internal and external financial information helping to advance the transformation of business communication. Rivet's flagship product, Crossfire® Financial Reporting Platform, is a standards-based platform focused on internal and external reporting and analytics. Crossfire® is built on a robust XBRL framework with the support of an integrated information center and is easy to use for true information transparency. http://www.rivetsoftware.com

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SOURCE Rivet Software