CityCompass, the facilitator of contemporary market issues affecting the financial services sector, announced that Fujitsu Software Corporation has agreed to be benchmarked for XBRL functionality.
Gary Wright the Managing Director of CityCompass and creator of the business benchmarking concept said ” This is great news for the financial services community that such a world leading exponent of XBRL has agreed to be benchmarked and they will be made aware of the all round values to the business of XBRL and not just regulatory reporting. Fujitsu must be congratulated for agreeing to take part in this very transparent benchmarking. With their experience of implementing XBRL for the Tokyo Stock Exchange they clearly are already highly advanced with the benefits of this new standard and the financial services firms in Europe can glean much from their involvement in this benchmarking”
Fujitsu spokesperson said “‘Fujitsu is very pleased to be involved in this benchmarking exercise. We are witnessing worldwide the adoption of XBRL as a business reporting standard especially in the financial services sector. The XBRL standard is one which can assist organizations meet new compliance requirements whilst reducing internal reporting costs.”