CompSci's 'Software as a Service' Simplifies XBRL for Corporations and Mutual Funds

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Jan 18, 2011, 07:00 ET

ALEXANDRIA, Va., Jan. 18, 2011 /PRNewswire/ -- CompSci Resources, LLC reported today that its Interactive Converter (iC(TM)) XBRL solution continues to gain momentum and adoption by both mutual funds and public issuers filing XBRL financial reports with the U.S. Securities and Exchange Commission. CompSci's web-based software automates the process of creating XBRL documents for both US-GAAP financial statements and Mutual Fund Risk/Return summaries, and is offered as a convenient and cost-effective "software as a service" (SaaS). With iC's state of the art technology, what used to take several days can be accomplished in a fraction of the time and at a fraction of the cost.

iC's web-based solution also enables users to generate XBRL financial reports whenever and wherever they have access to the Internet - alleviating the need for users to install and maintain costly software on their computers.

"We are getting consistently positive feedback on our XBRL software from users who tell us that not only is our software fast and reliable but it also reduces the time and labor required to create XBRL filings at a reasonable price," said Joe Clem, CompSci's CTO. "Financial printers, filing agents, accountants, public companies, and mutual fund administrators tell us that this is the fastest and most user friendly XBRL software solution they have seen. The low and predictable cost associated with our SaaS solution is an equally attractive feature for our clients, particularly as all companies today are striving to keep their costs in check," said Clem. "What we set out to do as a company was to develop state-of-the-art technology that was easy to use, reliable, and affordable."

About CompSci

CompSci Resources, LLC was founded in 1997 and has been a member of XBRL US since 2006, as well as an active member of various XBRL International working groups. CompSci develops, sells, and supports the world's best-value commercial-grade XBRL product suite. Currently being used by financial printers, filing agents, mutual fund administrators, accounting firms, law firms, and publicly traded companies, CompSci's XBRL solutions offer organizations superior service with cost-effective, state-of-the-art technology.

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