FOR IMMEDIATE RELEASE
XBRL INTERNATIONAL ABSTRACT MODEL TASK FORCE BEGINS DEVELOPMENT PROCESS
NO MAGIC, INC. TO SUPPORT MODEL DEVELOPMENT AS PARTNER
JANUARY 11, 2011, NEW YORK, NY – XBRL International, Inc. (XII) announced that its XBRL Abstract Model Task Force will begin this week to develop the abstract model that will serve as a common blueprint for the development of XBRL solutions.
“In order to encourage widespread development of software tools and solutions that will meet the needs of XBRL data users, we must begin with an abstract model to make it easier for software architects and their development teams to create XBRL applications,” said Anthony Fragnito, CPA, CEO of XBRL International, Inc. “The model provides several benefits including lowering the barriers to accommodating the XBRL specification within software tools and providing a blueprint for creating XBRL applications more efficiently and with greater consistency of outputs. This is particularly meaningful in light of the expanding market needs for XBRL tools due to increased regulatory adoption mandates.”
XII also announced that No Magic, Inc., recognized globally as the creator of the award winning MagicDraw and Cameo Suite modeling, simulation and analysis software, is supporting the XBRL abstract model development effort as a Partner in the program.
“We are pleased that No Magic is collaborating with XII on the development of the model as a Partner, our highest level of support for this program,” added Mr. Fragnito. “Their software modeling and technology standards experience will be invaluable to the Task Force as it moves through the abstract model design process. Members of the Task Force will be using No Magic’s MagicDraw and Cameo Suite solutions to create the model.”
“No Magic’s technology is best known for supporting open standards, and for providing the highest level of interoperability for software developers,” said Gary Duncanson, CEO of No Magic. “We’re pleased to partner with XBRL International, and we look forward to working together to create an abstract model that will serve as a common blueprint for XBRL solutions for years to come.”
XII expects to provide a draft XBRL abstract model within the first quarter of 2011 and to finalize the model shortly thereafter following an appropriate public exposure period.
“Once we finalize the model, XII and our abstract model Partners and Sponsors will undertake a coordinated outreach, education and training program to expose the market to the benefits available for XBRL tool development,” added Mr. Fragnito. “We look forward to working with No Magic to promulgate the model in the broader marketplace and help other organizations as they look to achieve greater interoperability with XBRL solutions.”
In addition to No Magic’s Partner level support, PwC, Canopach and Infosys are Sponsors of the initiative. For more information about the XII Abstract Model or its other strategic initiatives, please visit http://xbrl.org/xsbstrategy/.
About No Magic, Inc.
One of the most respected providers of standards-compliant modeling, simulation and analysis solutions in the industry celebrates its 16th year anniversary of its product and service line this year. The Cameo® Suite supports the full enterprise application life-cycle from business requirements/planning through and including final testing with award-winning, OMG™ standards-compliant products that efficiently model organizational structure, business processes, applications, information and technology. MagicDraw® supports multiple domain-specific models based on UML® including: BPMN™, SysML™, fUML, DoDAF/UPDM, MDD, SOA, unit testing, data modeling and more. Professional services include training, consulting, custom applications and MagicDraw® product customizations such as custom modeling domain diagrams, requirements management, team collaboration, design and analysis. Founded in 1995, No Magic, Inc. is headquartered in Plano, Texas with operations worldwide. More information can be found by visiting http://www.nomagic.com.
About XBRL International, Inc.
XBRL International is the global not-for-profit electronic business reporting consortium. It is comprised of more than 650 public and private sector organizations from more than 30 countries that collaborate to improve decision making across business and government by enhancing the way that performance information is defined, prepared, exchanged and analyzed. Specifically, XII is responsible for the ongoing development and maintenance of the Extensible Business Reporting Language and the promotion and support of its adoption. Interested companies and agencies are encouraged to join the XBRL International consortium and participate in building the future of electronic business reporting. To learn more about these opportunities visit http://www.xbrl.org/abouttheorganisation.
For XBRL International, Inc. For No Magic, Inc.
T. David Colgren Todd Keefe
President & CEO, Colcomgroup, Inc. For Immediate Release, PR
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