New XBRL Consulting Operation Starts up in New York

CoreFiling Opens for Business in the US and Appoints Managing Director 

 

NEW YORK--Aug. 11, 2005--CoreFiling, the specialist electronic reporting joint venture of Business Wire and DecisionSoft, is pleased to announce the appointment of Sanjay Basu to the position of Managing Director, Consulting Services. Sanjay will be running CoreFiling's XBRL and e-filing consulting operation.

 

XBRL is the new standard for exchanging performance and financial reports electronically. CoreFiling was created because Business Wire and DecisionSoft recognize the opportunity that electronic reporting represents, given the rapid acceptance of XBRL globally.

 

Mr. Basu joins CoreFiling with more than 20 years' experience in financial services consulting and has held leadership roles in a number of organizations, including leading European consulting firms Atos Origin and Capgemini. He will build the New York-based CoreFiling consulting team. CoreFiling specializes in helping companies gain a competitive advantage in investor relations and improved financial reporting, such as the SEC Voluntary Filing Program.

 

Commenting on the appointment, London-based CEO, John Turner, said:

 

"We are very pleased that Sanjay has decided to join us. He brings a unique set of strengths in financial services; and in addition to a great track record in consulting, his lengthy service with a number of key capital markets firms means that he is ideally placed to help our clients understand the advantages of our leading-edge technologies. We are, of course, delighted to be open for business in New York at a time when business reporting is a key concern for so many US corporations."

 

About CoreFiling

 

CoreFiling is a joint venture formed in early 2005 by Business Wire, the global leader in financial news distribution, and UK-based DecisionSoft, the world's premier XBRL components vendor. CoreFiling provides XBRL consulting services, data validation and enhanced data management to filers, regulators, exchanges and the financial community.

 

About Business Wire:

 

Business Wire was founded in 1961 by chairman/CEO Lorry I. Lokey, veteran journalist and public relations executive. The company's multi-channel delivery network, with access to some 60 international and national news agencies, financial information providers and Web-based news services throughout North America, Europe, Asia, Latin America, the Middle East and Africa, provides real-time, simultaneous access to key audiences -- the news media, trade publications, institutional and individual investors, business-to-business decision-makers and consumers.

 

Business Wire electronically disseminates some 1,000 full-text news releases daily to the media, the Internet, online services and databases, and the global investment community in 150 countries in 45 languages. Business Wire has 24 U.S. offices, Frankfurt, London, Brussels, Paris, Sydney and Tokyo offices, and reciprocal offices throughout the world.

 

About DecisionSoft

 

DecisionSoft Limited, founded in 1997, is one of Europe's leading XML vendors, with a substantial history in the successful design, publication and validation of XML and XBRL. Its success is based on tools and services created with an uncompromising commitment to engineering excellence.

 

DecisionSoft's True North suite provides enterprise-strength XBRL processing. The flagship True North validator is used by regulators on both sides of the Atlantic. Boasting world-leading XBRL developers, DecisionSoft products are regarded by many as the "gold standard" in this field.

 

Based in Oxford in the United Kingdom, DecisionSoft is a private company.