Microsoft Dynamics features XBRL by Semansys

Users of Microsoft Dynamics meet reporting requirements through XBRL functionality by technology leader Semansys Technologies.

Eindhoven – May 2008 - Semansys Technologies, a leading vendor of software solutions for financial reporting and XBRL, has announced it will offer XBRL functionality to users of Microsoft Dynamics. This will allow users of Microsoft Dynamics to effectively and efficiently meet reporting requirements involving the global standard XBRL. In most countries in Europe and Asia, regulators, tax authorities, statistics agencies and banks are asking companies to report in this standard. The solutions provided by Semansys are tuned to address the local needs of companies in all countries where XBRL is used.

Adoption of the global standard for digital reporting XBRL is growing. In the past years large corporation world wide as well as specific industries have implemented the standard. Now XBRL is main-stream, also the mid-sized and smaller companies and institutions are confronted with XBRL. Banks, industry regulators, tax authorities, chambers of commerce and statistics agencies are rapidly introducing this standard as preferred or even mandatory, and intermediaries and accountants are using it for efficiency in data exchange with clients and regulators. Companies that use Microsoft Dynamics can now benefit from this development and connect to the digital reporting supply chain. In cooperation with Microsoft Dynamics, Semansys Technologies offers specific solutions for various types of reporting based on XBRL.

Semansys is the only company in the world with over 6 years of practical experience in implementing XBRL with preparers of reports. The company is specialized in making XBRL based reporting easy and efficient for companies, big and small. Their technology has facilitated successful implementations of digital reporting, leading to proven cost savings of as much as 75%. This success has lead to the exemplary Dutch NTP project which has enticed many other countries to start using XBRL on a national level. This expertise is now available through the resellers of Microsoft Dynamics.

The Semansys Dynamics XBRL solution is jointly developed to create all types of reports which can be composed from the information stored in Microsoft Dynamics ERP systems. This includes various tax filings, annual reporting to regulators such as a Chambers of Commerce, credit reporting to banks and statistic reports to statistics agencies. The solution includes pre-configured interfaces with both Microsoft Dynamics NAV and Microsoft Dynamics AX and is supported through local representatives. The solution also allows for import of data from other sources and for manual entry and editing, and is therefore prepared to support any current and future reporting need.
‘This makes the solution easy to implement, low cost and future proof’ says Jason Alber, Lead Senior Program Manager for Microsoft Dynamics. ‘Our customers stand to benefit from leveraging Semansys’s unique experience in making XBRL work, and this supports Microsoft’s long term commitment to XBRL. Aldert Kadijk, Product Marketing Manager Microsoft Dynamics NAV: ‘We have supported XBRL right from its inception and Dynamics NAV was one of the first to incorporate this standard. Now XBRL is main-stream, we are glad to be able to offer this more strategic solution that recognizes that XBRL plays a central role in IT architecture for reporting’.

About Semansys Technologies

Semansys Technologies is a leading vendor of software solutions for financial reporting and business monitoring based on semantics and XBRL. The company offers a uniquely comprehensive solution that increases speed, quality and transparency in the exchange of information throughout ‘the financial supply chain’. The software helps regulators reduce risks and administrative burden. For preparers of business reports, Semansys provides easy to use and efficient reporting solutions. The use of open standards allows users of this software to deploy innovative real time business monitoring techniques such as daily balance sheets and continuous auditing. Semansys is closely involved in the development and global adoption of XBRL and realized the world’s first implementation of this standard. Semansys is based in Zoetermeer, The Netherlands.

www.semansys.com

Semansys Technologies BV
Tel.:     +31 79 361 5931
Email:   paul.snijders@semansys.com

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