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OneSource Joins XBRL International
3/31/2003
Mass.--(BUSINESS WIRE)--March 31, 2003--OneSource Information Services, Inc. (Nasdaq: ONES), a leading provider of business information solutions, today announced its participation in XBRL International, a not-for-profit consortium of over 170 companies and agencies worldwide working together to build the XBRL (eXtensible Business Reporting Language) standard and to promote and support its adoption. The consortium consists of companies from many segments of business, including Deloitte and Touche, Morgan Stanley, NASDAQ, Oracle and PricewaterhouseCoopers.
OneSource is supporting XBRL as part of its strategy to embrace key standards that simplify the integration of external data into standard business and custom financial applications. Additionally, OneSource is working closely with XBRL International to advance the adoption of new, normalized variable standards. To date, OneSource has submitted more than 50 variables for consideration to the consortium for inclusion in the official U.S. Financial Reporting Taxonomy. These variables enable quick cross-company and cross-industry comparisons of financial benchmarks.
"OneSource is among the first companies to take a .NET application-based approach to driving XBRL adoption," said Walter Hamscher, co-author of the first XBRL specification and chair of the Steering Committee of XBRL International. "Also, OneSource has worked to extend the existing XBRL-US financial reporting framework by developing and submitting a set of more than 50 financial reporting variables and calculated ratios for consideration by XBRL-US, the US member of XBRL International. It is this type of open cooperation and focus on end-user benefit that will continue to drive XBRL as the de facto reporting standard for the financial services community."
"XBRL is already changing the way annual reports, SEC filings, and reports from companies to investors, regulators and business analysts are communicated and analyzed," said Patti Purcell, senior vice president of Products and Solutions at OneSource. "OneSource intends to extend the value of XBRL through our Synergy Solutions -- tools and services that connect OneSource enhanced content with customer data and link them into critical business processes and applications. We are committed to supporting the development of XBRL variable standards and look forward to working actively with XBRL International."
In a related release today, the company also announced the availability of XBRL financials for the OneSource(R) AppLink(SM) software development kit (SDK), allowing financial data to be accessed via XBRL through OneSource''s Web services-based tool kit. The AppLink SDK will now offer the industry''s most comprehensive support for XBRL.
About XBRL International
XBRL International is a non-profit consortium of over 170 companies and agencies worldwide.
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