DENVER, Dec. 1 /PRNewswire/ -- In an effort to sustain and support rapid growth, Rivet® Software brings in three new directors.

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Over the next 18 months, the Securities Exchange Commission, under Regulation S-T, has mandated that all publicly traded companies provide electronic tags on all financial disclosure filed with the organization. In order to remain in compliance and efficiently make their EDGAR filings more discoverable, organizations will need to adopt solutions that automatically apply detailed tags. As such, Rivet Software, a leading developer of financial reporting, XBRL based software is poised for exponential growth.

"Anticipation of the market need means that we must scale our staff and quickly," said Patrick Quinlan, president of Rivet Software. "As the company that literally wrote the book on XBRL, we insisted on having the highest level of people available to help spur growth and support our growing client base."

Barclay Friesen comes to Rivet after building a successful sales career within the telecom and manufacturing world. As Director of Sales, he is responsible for providing leadership, business development strategy and management of the sales department within several vertical industries, including mutual funds, corporate compliance, and financial reporting.

Rivet is also benefiting from the addition of Raul Varela, CFA. His technical perspective and business acumen offer unique perspective to his role as Director of Mutual Fund Compliance and Reporting. A former project manager, Raul can help customers and prospects navigate the nuances of IT implementation as well as the impact of new technology on the business user. Prior to joining Rivet, he served in various leadership roles at Oppenheimer Funds, Inc., J.D. Edwards and several software companies. He is a graduate of Colorado School of Mines and holds a MBA from the University of Colorado.

Chris Taylor is Rivet's new Director of Professional Services. He is responsible for growing and managing Rivet's accounting, legal and consultant client base. Chris brings more than 25 years of financial and international corporate development in consulting, software and manufacturing to Rivet. Chris previously served as a controller, director of finance, and chief financial officer for several public and private companies. He is a graduate of Brigham Young University and holds a MBA, from Boise State University.

Rivet Software has spent more than 100,000 development hours creating the most comprehensive XBRL reporting solution for public and private companies seeking greater financial transparency. Built by accountants for accountants, Rivet is the only software solution deployable across the enterprise that can offer the highest level of taxonomy required by the government.

About Rivet Software:

Comply. Control. Communicate.

Founded in 2002, Rivet Software (http://www.RivetSoftware.com) is headquartered in Englewood, CO, and is the developer of XBRL solutions for financial communications. A pioneer in the development of automated reporting platforms, Rivet's software gives public and private companies the fiscal transparency needed to conduct business, account for revenue and expenses, audit activities and meet disclosure for the government and shareholders alike. Leading the evolution of global financial communications, Rivet empowers business users with control over the collection, analysis and dissemination of business and financial information.

Contact:     Rob Manfredo | Eric Fischgrund
             Beckerman
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