...£250,000 investment allows faster financial consolidation and reporting cycles for recently created complex, global business...
LONDON, UK. and SUNNYVALE, Ca., January 31, 2001 - Hyperion, a leader in business analysis, today announced that BNFL, a leader in the world nuclear energy industry, has invested approximately £250,000 in Hyperion Enterprise, the leading financial consolidation, reporting and analysis solution, to provide faster financial consolidation and reporting cycles for an organisation now comprising approximately 80 entities in four business groups in 15 countries.
The decision to implement Hyperion Enterprise followed earlier assistance in the search and selection of an appropriate solution by management and IT consultancy Cap Gemini Ernst & Young (CGE&Y). The initial arrangement will allow BNFL users around the world to benefit from the software, with the intention of rolling out to more users in the future.
According to Andy Bennett, head of financial accounting and project sponsor, BNFL: "The recent acquisitions of the nuclear businesses of Westinghouse and ABB have propelled us from a UK-based business into a global company in just two years. Today, we operate in 15 countries and employ more than 23,000 people. As a result our existing spreadsheet based system for handling financial consolidation and reporting was really not up to the task of supporting these complex requirements. Speed and accuracy of financial reporting play an important role in every modern organisation. With a more complex and geographically diverse organisational structure, the speed and accuracy of our financial reporting is paramount."
Continues Bennett: "We also needed something that would be flexible enough to take account of future changes to our business and financial reporting requirements. Working with our management and IT consultancy partner Cap Gemini Ernst & Young we chose Hyperion Enterprise as the best fit for our needs. In conjunction with our implementation partners Paragon Consulting, we are looking forward to using Hyperion Enterprise in 2001."
Commenting on the deal, Robert Todd, senior consultant, at Cap Gemini Ernst & Young said: "As a result of BNFL's recent acquisitions and restructuring, the complexity of the overall organisation, and by definition the financial reporting requirements associated with it, has grown accordingly. As part of our ongoing relationship with BNFL, we assisted in specifying their requirements, and in selecting the financial consolidation and reporting package that best met their business needs. Hyperion Enterprise fulfilled these requirements. We are now providing BNFL with programme management assistance to ensure the successful global implementation of the solution"
According to Anders Wincrantz, Hyperion's vice president for Northern Europe: "BNFL is a classic example of a complex global organisation that has the need to improve the speed and quality of its financial reporting in the face of rapidly growing expansion and complexity. Hyperion Enterprise can quickly adapt to changes in organisation structures resulting from reorganisations, mergers, acquisitions, and divestitures. Hyperion Enterprise's ability to track changing organisation structures over time allows BNFL's managers to monitor the effects of these reorganisations and model future changes with ease. Hyperion Enterprise also allows BNFL to handle the detailed line of business information required for management reporting purposes while also meeting complex legal and statutory reporting requirements."
Bob Fretton, business development manager at Paragon Consulting Group says: "As development and implementation partners, Paragon Consulting will be applying a combination of dedicated focus and best practice methodologies to ensure that BNFL maximises the return on its investment in Hyperion Enterprise."
Hyperion (Nasdaq: HYSL) is a leader in business analysis software. Hyperion helps business leaders plan, manage and execute on strategies by analysing 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 over 6,000 organisations 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
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Note to editors: Hyperion and Hyperion Enterprise are registered trademarks of Hyperion Solutions Corporation.
BNFL has many decades of experience in providing a full scope of products and expertise to a nuclear industry spanning the world.
BNFL manufactures fuel and provides reactor services, electricity generation and spent fuel management capabilities. The company is at the leading edge in the decommissioning of nuclear power and process plants and in cleaning up the legacy of the cold war.
About Cap Gemini Ernst & Young
Cap Gemini Ernst & Young is one of the largest management and IT consulting firms in the world. The company offers management and IT consulting services, systems integration, and technology development, design and outsourcing capabilities on a global scale to help traditional businesses and "dot companies" continue to implement growth strategies and leverage technology in the new economy. The organisation employs more than 58,000 people worldwide and reports global revenues of about 7.7 billion euros (1999 pro forma).
More information about individual service lines, offices and research is available at http://www.cgey.com
About Paragon Consulting Group Limited
Paragon Consulting Group is a Hyperion Consulting Partner and a leading provider of consulting services for Hyperion's packaged analytic application software. The company provides a comprehensive range of services ranging from global project management through to implementation, end user training and support services. Paragon is currently working in partnership with some of the largest FTSE 100 companies to deliver exceptional solutions.
More information about Paragon Consulting Group's services can be found at http://www.pcong.com
Tel: (020) 8762 9292
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