Latest version of XBRL v2 now available to increase financial efficiency and economic stability

Berlin, March 4, 2002 – Semansys Technologies, developer of XBRL based applications for business intelligence, today releases the first comprehensive application suite based on XBRL specification v2. The availability of this technology this early in time will accelerate the adoption of the Extensible Business Reporting Language (XBRL) worldwide, result in increased efficiency in financial reporting and contribute to economic stability. This announcement coincides with the start of the 4th International XBRL Conference in Berlin, Germany.

The public interest
As the economic systems become more global, society and especially investors become more demanding, regulations become more volatile and companies more transparent. Recent developments involving the sudden collapse of global corporations (Enron) illustrate the need for more effective and more efficient monitoring and reporting solutions. World wide leaders in accounting and in the financial world have set a new standard for business reporting called XBRL which will become a worldwide obligation during this decade and which will have its positive effect on economic stability.

Increasing efficiency
XBRL represents one of the first applications of a new data management technology known as Semantic Modeling. Semantic Modeling leads to huge savings in business intelligence, improved accuracy and business results. It enables real time business monitoring techniques such as daily balance sheets and continuous auditing. Semansys is generally recognized as the leader in Semantic Modeling and is the only company in the world that made considerable investments in application based on this technology. Semansys is therefore in a unique position to introduce an application suite supporting this standard, virtually at the moment
the standard becomes available. An XBRL solution provides true value when it supports not only the exchange but also the management of business information. Semansys is worldwide the first vendor offering this full functionality.

Meeting reporting requirements
The Semansys application suite released today supports all essential phases of financial reporting. These functions include the creation and management of multiple taxonomies (definitions of accounting principles), the creation, reception and interpretation of XBRL instance documents containing the actual data, as well as extensive analysis functions. The system can contain a native XML database to store and query XBRL business content.

Externally and internally
The Semansys application suite enables large and mid-sized organizations to streamline the reporting chains, internally and externally, reduce reporting redundancy and inefficiencies as well as offer new opportunities to restructure the financial supply chain using the Internet. Users can effectively meet their obligations to the financial supply chain, introduce continuous business monitoring, auditing, risk assessment and credit reporting. With XBRL and Semansys new business models can be created and executed in the collection and distribution of public information.

About Semansys
Semansys offers the first available application suite, enabling organizations to manage their internal and external business information based on XBRL. It monitors, analyses and optimizes the exchange of information in the network of reporting relationships often referred to as ‘the financial supply chain’. The suite is a comprehensive solution for assembly, processing, analysis and publication of business data.
Customers of Semansys Technologies experience a huge increase in reporting and operational efficiency through instant support of the XBRL open standard. Further gains are achieved through implementation of Semansys XBRL based real time business monitoring applications such as daily balance sheets and continuous auditing. Semansys technology is used by government bodies, regulators, financial institutions, business information publishers, accountants and commercial organizations. Semansys is based in Voorburg, The Netherlands and is represented in Germany by InnoData GmbH based in Nidderau.