Information Builders, an independent leader in business intelligence solutions, has released WebFOCUS Financial Reporting Exchange to help alleviate the complexity and cost of global financial reporting.

WebFOCUS Financial Reporting Exchange enables customers to automatically generate financial reports for any data source or ERP system, transform these reports into XBRL documents, validate both taxonomy structure and data, and then publish the results. This new offering aims to effectively hide the complexity of XBRL from the end-user and performance management software developer, providing fully audited processes as well as intra-company financial reporting.