CityCompass Research, the specialist independent research company in the European financial services sector, today announced that Fujitsu is the leading XBRL (eXtensible Business Reporting Language) vendor, as judged by leading XRBL experts in the financial industry’s first XBRL benchmarking tests.
The B.I.S.S benchmarking evaluates technologies against the business objectives of financial firms, rather than focusing purely on a product’s technology capabilities. Therefore, the XBRL benchmark tests provide banks, and other financial institutions, with a valuable yardstick to match their own needs for electronic reporting against vendor offerings. With the financial industry undergoing unprecedented change, driven by MiFID (The Directive on Markets in Financial Institutions) and Sarbanes Oxley legislations, XBRL is fast becoming the industry standard to enable financial institutions to meet and manage compulsory reporting requirements.
“We offered every vendor with an XBRL solution the opportunity to participate in this public industry benchmarking, however, Fujitsu was the only vendor that had total confidence in its product to take part,” said Gary Wright managing director of CityCompass and founder of business benchmarking. “The benchmarking illustrated that Fujitsu is the clear market leader in XBRL, with product superiority, coupled with a deep appreciation of the business values of XBRL,” he continued. “I congratulate them on achieving the Gold B.I.S.S Award and can with confidence recommend them to the European financial market.”
“We are thrilled with our leadership ranking achieved through the comprehensive B.I.S.S benchmarking tests, and it is further testament that Fujitsu has the best XBRL solution for financial firms,” said Raymond Buchan, European director of marketing and business development, Fujitsu Software Corporation. “With XBRL adoption poised to take off across the globe, Fujitsu is well positioned to continue delivering a proven solution to financial institutions.”
CityCompass is a company run by senior financial services professionals for professionals in the International Financial Services Industry. Its mission is to supply Independent Research and Analysis on topical issues that concern practitioners within the Financial Services market. Through its wide and growing database of professional people located in all the worlds’ major financial markets, CityCompass provides a central library of knowledge and information that is designed to assist vendors and the buyers understand changes in the market place and which systems and services are best suited. The result reduces the risk of system developments and purchasing and resultant costs associated in sales and implementation
About Fujitsu Software Corporation Fujitsu Software Corporation
Based in Sunnyvale, California, is part of the Fujitsu Limited (TSE:6702) family. Fujitsu Software Corporation’s EMEA HQ is based in Dublin, Ireland. The wholly owned subsidiary delivers one of the world’s broadest lines of application infrastructure software products, including the Interstage® Suite and NetCOBOL®. Fujitsu Software Corporation leverages Fujitsu’s international scope and expertise in developing and providing information technology solutions, including more than 4,000 software developers worldwide. To learn more about Fujitsu Software Corporation, visit http://www.fsw.fujitsu.com/.
COME VISIT US
You can visit us in the 13th XBRL INTERNATIONAL CONFERENCE on the 16th-19th of May, 2006 in Hotel Meliá Castilla, in Madrid (Spain). If you want to see a DEMO of the INTERSTAGE tools, come to stand Nº 17.
To obtain more information, contact us at +34 91 784 90 00, by e-mail: email@example.com or visiting es.fujitsu.com
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