New York, NY (Vocus/PRWEB) February 14, 2011
EDGAR Online, Inc. has selected SunGard for business process outsourcing (BPO) services to expand its current XBRL (eXtensible Business Reporting Language) filing creation capacity. SunGard will provide end-to-end services associated with companies’ creation of financial filings in XBRL as mandated by the Securities Exchange Commission (SEC). In 2011, all public companies and all mutual funds reporting to the SEC will be required to submit XBRL documents. XBRL is an international business reporting standard currently mandated by certain securities, banking and tax regulators across the world.
SunGard will work with EDGAR Online, a leading provider of XBRL solutions, to increase EDGAR Online’s capacity to help companies provide high quality XBRL documents that comply with SEC mandates. EDGAR Online provides XBRL software, services and data solutions that help improve the flow of business information. EDGAR Online delivers its services through a number of leading financial printers and other partners.
Using EDGAR Online’s proprietary software and leveraging EDGAR Online’s expertise in XBRL and the SEC mandate, SunGard will support the business process around XBRL-based document creation. SunGard Global Services will deliver these BPO services predominantly from its solution centers in India.
Diana Bourke, chief operations officer of EDGAR Online, said, “We selected SunGard to help enable the growth of our US and international businesses. SunGard demonstrated the long-term vision and strategy on a global basis and will provide scalability and efficiency through a global delivery model. SunGard’s footprint in the financial services space can offer us the opportunity to collaborate with it on other XBRL-based projects.”
Kalpesh Master, managing partner, SunGard Global Services, said, “EDGAR Online’s selection of SunGard underscores our continued support of our customers’ growing regulatory and compliance requirements. With XBRL as the mandated format for SEC filings, our work with EDGAR Online will help its clients transform static reporting documentation into a more dynamic electronic format that provides the SEC and other regulatory bodies a more efficient process of reviewing public companies’ financial history for enhanced data analytics. We are pleased that EDGAR Online is using SunGard’s global BPO offering to support its core XBRL business processes.”
About EDGAR Online
EDGAR Online is a leading global provider of XBRL (eXtensible Business Reporting Language) solutions that improve the flow of business information. The company delivers solutions through its integrated portfolio of filing creation services, data and analysis products and software. Clients include thousands of U.S. public companies, mutual funds, leading financial analysts and institutional investors as well as global regulators such as the FDIC, Banque de France, and Keane Federal Systems under contract to the U.S. Securities and Exchange Commission. Software solutions for global enterprises and regulators are developed by UBmatrix, Inc., a wholly owned subsidiary. The company delivers its services through an extensive network of OEM and implementation partners including Oracle, PR Newswire, RR Donnelley, and SAP. To learn more about EDGAR Online visit http://www.edgar-online.com.
About SunGard Global Services
SunGard Global Services combines business consulting, technology and professional services for financial services firms, energy companies and corporations. Leveraging SunGard’s global delivery model, more than 5,000 employees worldwide help customers manage their complex data needs, optimize end-to-end business processes and assist with systems integration, while providing full application development, maintenance, testing and support services.
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, visit http://www.sungard.com.
EDGAR® is a federally registered trademark of the U.S. Securities and Exchange Commission. EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission.
Trademark Information: SunGard and the SunGard logo are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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