A Denver-based company that developed a financial reporting system for companies is adding another 40 employees.

Colorado Gov. Bill Ritter was set to join Rivet Software officials Tuesday to announce expansion of the company's work force. The company says it hired nearly 100 employees over the past year and has enjoyed a 50 percent increase in business.

Rivet Software says it has worked with the U.S. Securities and Exchange Commission and companies since the start of the SEC's so-called XBRL, or extensible business reporting language, the open data standard for financial reporting. The SEC will require all public companies to use XBRL by 2011.