Hyperion Performance Management Software Helps Companies
Get the Most Out of EVA and Manage for Value
NEW YORK, NY. and SUNNYVALE, Ca., December 13, 2000 -- Stern Stewart & Co., the founders of the EVA® (Economic Value Added) value-based management framework, and Hyperion (Nasdaq: HYSL), a leader in business analysis software, today announced a partnership to jointly market and deliver the EVA Software Solution, enabling companies to more easily plan for and manage their true economic profit. The agreement marks the first time that Stern Stewart & Co. has partnered with a software company to develop a software solution uniquely tailored to support its trademarked EVA methodology. The two companies will collaborate to offer this solution worldwide.
"This joint offering will help companies embed EVA throughout their organizations with a software solution that is both powerful and sustainable," said G. Bennett Stewart III, co-founder and senior partner at Stern Stewart. "It is the perfect platform to bring economic analysis to life. This unique offering makes it possible for corporate executives to institutionalize rational, value-based planning and decision making."
Combining Hyperion’s Performance Management suite with Stern Stewart’s landmark EVA methodologies, the EVA Software Solution will enable companies to model and manage outcomes for maximum shareholder value. The decision analysis capabilities can be deployed on desktops across an enterprise by leveraging Hyperion’s business analysis software. The software also offers a unique Stern Stewart Scorecard for communicating EVA success factors and for measuring performance in terms of value creation.
"Working with Stern Stewart allows us to jointly offer the most complete EVA solution available," said Jeff Rodek, CEO of Hyperion. "Our performance management solution is a powerful framework for organizations to implement corporate strategy and improve operating performance. Using our software and Stern Stewart’s framework, companies can implement EVA throughout an entire organization so that everyone understands their role in value creation and can make the right decisions everyday. There is no other solution like it on the market today."
Stern Stewart EVA
EVA, or Economic Value Added, is an integrated framework for performance measurement, value-based planning and incentive compensation developed by Stern Stewart founders Joel Stern and G. Bennett Stewart III. EVA is calculated by taking operating profits and deducting a charge for the cost of capital. The Stern Stewart EVA framework is now employed by more than 300 companies worldwide, including Coca-Cola, Siemens and Sony, as well as government agencies such as the US Postal Service and The Port of Singapore Authority. Companies that have adopted EVA have frequently realized long lasting improvements in operating efficiency, growth, morale, motivation and stock market value.
Hyperion Performance Management
Hyperion’s Performance Management suite deploys strategic analysis capabilties throughout an organization utilizing Hyperion Performance Scorecard, which measures individual and corporate performance with respect to the strategy. The solution is tied to operations by leveraging business models in a framework designed for operational planning, cost management and profitability and value analysis, and includes a powerful decision analysis capability. Planning decisions can be made at any level of an organization, and can be based on improving profitability or economic value creation.
About Stern Stewart
Stern Stewart & Co. is a global consulting firm that specializes in helping organizations in the measurement and creation of shareholder wealth through the application of tools based on modern financial theory. The company pioneered the development of its proprietary EVA® (Economic Value Added) framework, which offers a consistent approach to setting goals and measuring performance, communicating with investors, evaluating strategies, allocating capital, valuing acquisitions and determining incentive bonuses that make managers think like owners. More than 300 client companies worldwide now use EVA, and evidence shows that most of them significantly outperform other companies in their industries. In addition, numerous brokerage houses, most notably Goldman Sachs and Credit Suisse First Boston, have adopted EVA as a method of equity valuation. Established in 1982 by Joel M. Stern and G. Bennett Stewart III, Stern Stewart has grown rapidly over the past decade, and now has offices in North and South America, Europe, Asia, Australia and South Africa. More information is available at http://www.eva.com
Hyperion is a leader in business analysis software. Hyperion helps business leaders plan, manage and execute on strategies by analyzing information on e-business initiatives, supply chain execution, customers, operations and finance. The Company's market-leading OLAP (online analytical processing) technology, packaged business analysis applications and tools are used by 6,000 organizations worldwide, including more than 60 of the Fortune 100 and more than 40 of the Financial Times European Top 100. In addition, 400 Hyperion alliance partners deliver technology, applications and services to increase the flexibility and choice for customers. Headquartered in Sunnyvale, California, the company has offices in 26 countries. More information is available at http://www.hyperion.com
Hyperion is a registered trademark and Hyperion Solutions is a trademark of Hyperion Solutions Corporation. EVA® is registered trademark of Stern Stewart & Co. All other trademarks or registered trademarks are the property of their respective owners.
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