New Financial Reporting Language Extends Global Reach By Adding Multilingual Capabilities
TOKYO, JAPAN – November 14, 2002
PricewaterhouseCoopers, the world’s largest professional services organization, has teamed with SYSTRAN, which provides translation solutions for the Internet, PCs and network infrastructures, to developed a demonstration which unites multilingual technologies, with XBRL (Extensible Business Reporting Language).
The demonstration was presented at the 6th International XBRL Conference in Tokyo, Japan. During the demonstration, a Japanese financial document, published in XBRL, was translated into English, using SYSTRAN technology, allowing the English speaking audience to immediately view and assess the Japanese data reported.
Bruno Tesniere, partner at PricewaterhouseCoopers said, “Using this technology, a person who does not speak the language in which financial documents are created will be able to search the Internet for information from a company and be presented with that data automatically in the language of his choice. This multilingual technology, combined with XBRL, opens a world of opportunities for the publishing and analysis of corporate reports, across the globe.”
Based on Extensible Markup Language or XML, the universal format for data on the Web, XBRL streamlines the way companies report and publish their financial data, and how analysts and investors can review that information. All financial information stakeholders from public and private companies, to the accounting profession, data aggregators, and the investment community, benefit from the use of XBRL.
However, because the Internet is no longer dominated by the English language, the demand for multilingual content is being accelerated.
SYSTRAN’s translation technology enables the creation of dynamic multilingual content for businesses to manage extensive amounts of information, which falls beyond the capabilities of human translation services.
Mike Willis, partner at PricewaterhouseCoopers said, “The growing worldwide acceptance of XBRL, coupled with the ever-increasing need for multilingual content, make the combination of multilingual XBRL a viable solution for all stakeholders in the financial information supply chain. The multilingual standardization of financial data will promote corporate transparency, accountability and integrity, on a truly global basis.”
Dimitris Sabatakakis, SYSTRAN’s Chairman & CEO said, “XBRL automates the publishing of financial information which benefits all stakeholders in the financial reporting chain. SYSTRAN’s technology adds a multilingual layer to the process that allows for on-demand and timely publishing of financial information in multiple languages.”
The demonstration presented by PricewaterhouseCoopers and SYSTRAN is the result of a European Commission project called the MLIS TransAccount Project in which the two companies participated. The project was designed to bridge the language barrier in financial reporting. Both companies commend the European Commission for its foresight in recognizing the importance of both standardized and multilingual financial reporting and thank the Commission for its support of the project.
PricewaterhouseCoopers (www.pwc.com) is the world’s largest professional services organization. Drawing on the knowledge and skills of more than 125,000 people in 142 countries, we build relationships by providing services based on quality and integrity.
PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
SYSTRAN (Euroclear Paris: 7729) develops and markets the world’s most scalable and modular translation architecture. Its core technology powers innovative translation solutions for the Internet, PCs and network infrastructures that facilitate communication in 36 language combinations and 20 specialized domains. SYSTRAN’s expertise spans over 30 years of building customized translation solutions for governments, public administrations, Fortune 500 corporations, and portals. SYSTRAN’s technology translates 7 million Web pages per day. Headquartered in Paris, France, SYSTRAN also has offices in San Diego, CA, USA and in Luxembourg. For more information on SYSTRAN visit www.systransoft.com.
SYSTRAN is a trademark of the SYSTRAN Group. All other brand names, product names, or trademarks belong to their respective holders.
Note 1 – IDC reports that Internet users in Western Europe now surpass the number of US users. Today, English accounts for only 36.5% of total Web content, as Chinese leaps to 10.9% and Japanese increases to 9.7%, according to Global Reach.
Note 2 – For further information on XBRL, visit www.xbrl.org
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