Tel: 01784 228076
...Enterprise wide Financial Management and Reporting Solution Helps Shorten Closing Cycles, Improve Decision-Making and Manage Bottom Line Performance...
LONDON, England, January 15, 2002 – Hyperion, (Nasdaq: HYSL) a global leader in business intelligence software, today announced Hyperion Financial Management 2.0, a Web-based, enterprise scale financial management and reporting solution with powerful multidimensional analysis capabilities. Hyperion Financial Management is designed to act as a common repository of financial information, unifying management across the enterprise and ensuring decision-making is based on consistent information. Hyperion Financial Management enables faster reporting cycles and improved management of bottom line performance, while providing greater flexibility for companies to meet frequently changing financial reporting requirements.
Hyperion Financial Management 2.0 is part of a comprehensive suite of financial and business performance management applications, which advance Hyperion’s strategy to create and deliver business intelligence solutions that enable companies to measure performance and drive enterprise wide profitability.
According to John Van Decker, program director, META Group, “By 2003/04, world-class organisations will have trimmed days off of their closing period by embracing aspects of the virtual close, with some moving to a two-day or less close process. Solutions that automate consolidations and quickly provide Web-based, self-service reporting to decision-makers within the enterprise and collaborative partners are critical to this endeavour.”
Hyperion Financial Management is designed and optimised to help companies adopt self-service and other new styles of finance that are required to compete in today’s global economy.
Gary Simon, Partner and Head of the Business Intelligence Team at Deloitte & Touche Management Solutions comments: "World class organisations have long realised that there is a direct correlation between improved business performance and faster financial reporting cycles. However, a combination of regulatory pressures and demand for greater transparency from investors and shareholders means that there is a huge challenge in accessing, analysing and reporting on all the information required to support these needs. Not only this, but internal management audiences now have more detailed line-of-business reporting requirements. Decision-makers need to understand and proactively manage such factors as profitability by product line, customer segment and distribution channel. Technology vendors who can effectively deliver on this must provide robust, unified, enterprise scale solutions that can cope with these demands and enable companies to really measure performance and drive e!
nterprise wide profitability. Hyperion Financial Management 2.0 has clearly been built to ensure that these challenging demands can be met."
Hyperion Financial Management 2.0 Addresses Global Reporting Requirements
Hyperion Financial Management offers a high degree of packaged financial intelligence, with full support for US Generally Accepted Accounting Principles (GAAP), International Accounting Standards (IAS) and other regional reporting requirements. While providing necessary flexibility to address changing global reporting requirements, the product also provides “smart dimensionality” which supports detailed line-of-business reporting requirements for internal management. As an example, in a manufacturing environment, “smart” dimensions are defined to help decision-makers understand and proactively manage profitability by product line, customer segment and distribution channel. By using a single application for both external and internal reporting requirements, companies can streamline the financial consolidation and reporting process, and deliver results more quickly to both internal and external audiences.
“Through aggressive research and close partnership with our customers, Hyperion is intensely tracking the changing needs of businesses,” said Chris Leone, vice president of product marketing for Applications. “With market-leading applications like Hyperion Financial Management, we are providing the essential tools that companies need to better manage their performance, drive down costs and focus on profitability.”
Features in Hyperion Financial Management 2.0 include:
· Full European statutory reporting – addressing the most complex global requirements
· Organisation by period and scenario – for easy modelling of acquisitions, divestitures and
· Enhanced security – for improved access control in broad deployments
· Graphical business rules builder – allowing easy development of complex calculations
· New Web data entry forms – for improved ease of use
· Improved process management – to ensure data accuracy prior to consolidation
Hyperion Financial Management 2.0 is available immediately.
Hyperion, a global leader in business intelligence software, creates solutions that help businesses measure performance and drive profitability. Its flagship product, Hyperion Essbase, as well as its financial and business performance management and eCRM analysis solutions are used by more than 6,000 companies around the world. Hyperion has a network of more than 400 strategic partners to provide innovative business intelligence solutions, specialised applications and services.
Headquartered in Sunnyvale, California, Hyperion reported annual revenues in fiscal 2001 of more than 0 million. The company has more than 2,300 employees in 20 countries and is also represented in 16 other countries through distributor relationships. For more information, please visit http://www.hyperion.com/uk , e-mail email@example.com or call 01784 228000.
Safe Harbor Statement
Statements in this press release other than statements of historical fact are forward-looking statements, including, but not limited to, statements concerning the potential success of anticipated product features, the anticipated product offerings and the potential market opportunities for business intelligence software. Such statements constitute anticipated outcomes and do not assure results. Actual results may differ materially from those anticipated by the forward-looking statements due to a variety of factors, including, but not limited to the company's ability to retain and attract key employees, the successful and timely development of new products, the impact of competitive products and pricing, customer demand, and technological shifts. For a more detailed discussion of factors that could affect the company's performance and cause actual results to differ materially from those anticipated in the forward-looking statements, interested parties should review the com!
pany's filings with the Securities and Exchange Commission, including the Report on Form 10-K filed on September 14, 2001 and the Report on Form 10-Q filed on November 13, 2001. The company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
Hyperion and Essbase are registered trademarks and Hyperion Solutions is a trademark of Hyperion Solutions Corporation. All other trademarks and company names mentioned are the property of their respective owners.
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