News
Dynaxys Announces the Release of its End-to-End XBRL Solution
Dynaxys and IBM to demonstrate the application innovations at the XBRL International Conference in Munich from June 4th through June 6th.June 4, 2007 - Silver Spring, MD - Dynaxys, a leading provider of custom accounting and reporting software applications, announced today the release of its end-to-end business solution based on the eXtensible Business Reporting Language (XBRL), the industry standard for online financial reporting. Xabra Tools allows for seamless data exchange and integration among disparate systems to support internal reporting, business analytics, and compliance with regulatory financial reporting. Xabra allows for data to be entered once in any system and compiles results for analysis and reporting in near real time, with higher quality data at a reduced cost.
Xabra is an XBRL-based application that offers a complete solution to extract and standardize data. Xabra accepts data in different formats from diverse legacy applications, such as CSV files or dynamically defined SQL queries. It maps imported data using a variety of standard XBRL taxonomies - GAAP, IFRS, COREP, XBRL Global Ledger - as well as specialized taxonomies. Data once standardized is delivered as an instance document or transformed to feed target applications that are not XBRL-enabled for reporting and non-reporting business processes.
Further down the supply chain, instance documents are stored in an XML database for analytics. Xabra Analytics enables the dissection of large volumes of data in XML and XBRL. Using IBM’s pureXML DB2 technology, the Xabra Analytics module is able to query and analyze complete XBRL instance documents. This is in contrast to shredding the XBRL instances which could result in a complex and difficult to maintain data model. Internally DB2 stores XBRL instance documents preserving the data’s hierarchical structure and converts the tag names and other information into integers for query performance and reduced file size. Xabra Analytics offers near real time analytic capabilities at a fraction of the price of traditional business intelligence products.
With a full end-to-end solution that leverages XBRL technology, Xabra is expected to significantly reduce costs in the financial and business reporting supply chain. By adding business intelligence features, users gain superior capabilities to analyze performance to feed business strategies and support decision making and policy development. More information about Xabra’s broad array of features can be found at www.xabratools.com.
"Our customers are excited about the opportunities presented by adopting XBRL and the prospect Xabra offers for uninterrupted data flow throughout the financial and business information supply chain,” said Lisa Miller, president of Dynaxys. “IBM was a true partner in the development of our new analytic features. IBM’s new pureXML technology now enables us to bring direct access to the instance documents for the business analysis features our customers want.”
"The rapid and growing adoption of the standard demonstrates the benefits that XBRL can provide," said Bob Picciano , VP worldwide software sales, IBM. "The combination of IBM DB2 9 and the Dynaxys Xabra solution will help our customers to make better financial decisions faster.”
About Dynaxys
Established in 1982, Dynaxys makes enterprise-class technology and accounting solutions accessible and affordable for the medium size business and the Federal Government. Its unique blend of business lines links Software Development, professional and consulting services in Accounting and Business Operations and Application Hosting expertise to provide to its customers the right solution for their needs, and to enable them to put it to work effectively.As a leading edge custom software developer, Dynaxys designs and builds solutions to solve complex business problems. Innovative thinking has yielded design breakthroughs such as automated adjustment tools for complex business and accounting processes, XML/XBRL-based reporting engines, and other tools to facilitate data consolidation and financial reporting. To learn more about Dynaxys, visit www.dynaxys.com. For more information on Xabra Tools, visit www.xabratools.com.
Contact Information
Dynaxys LLCLisa Miller
1-301-622-0900
lmiller@dynaxys.com
