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Many Plan to Increase Spending on Business Performance Management Technology Compared to Last Year
EGHAM, UK. ––April 25, 2002 — More than 79 percent of business executives participating in a survey completed today rely on business performance management software to help them manage through this challenging economic climate. Nearly half indicated that they will increase spending on business performance management software in the coming 12 months, according to a survey of more than 600 executives at Hyperion’s (Nasdaq: HYSL) Solutions 2002 user conference.
The Solutions 2002 conference attracted more than 4,000 Hyperion customers, partners and staff for what is believed to be the world’s largest single gathering of business performance users.
With economic indicators signalling a slow upturn in the market, executives attending Solutions 2002 expressed cautious optimism about the economy overall, while emphasizing that business performance management projects will increase in both size and sophistication. More than half indicate that they will expand their implementations enterprisewide within the next 12 months.
Responding to the Economy
Survey results indicate that business performance management is top-of-mind with executives. More than 85 percent said their companies had changed their business strategy to manage through the current economic period.
Corporate Accountability Also a Factor
The survey also indicated that nearly 50 percent of respondents are modifying their current financial reporting methods as a result of increased scrutiny of their financial accounting practices and many are increasing their budgets for financial reporting solutions in tandem.
“Whether or not government regulations require faster or more stringent reporting, shareholders are requesting it,” said Jeff Rodek, chairman and CEO for Hyperion. “Companies need solutions to ensure that they can meet these needs. Business performance management software is a vital element in providing shareholders with the reassurance that their investments are being protected by intelligent business decisions.”
Taking the Lead in Business Performance Management
At the conference, Hyperion introduced a Business Performance Management Suite, designed to help companies manage through extraordinary complexity by enabling managers to continually measure performance, anticipate results and drive profitability across key business activities.
“We have a significant number of business performance management users representing some of the most respected companies in the world gathered here at Solutions 2002,” said Jeff Rodek. “These are the decision makers for investments in software and technology that measure performance and drive profitability. Their insight is invaluable to us. Because we stay close to our customers, we were able to anticipate their business performance needs and build a solution for them. The results of the survey validate that we are moving in the right direction.”
The Hyperion business performance management suite is unique in the industry, in that it provides not only the applications to deliver solutions that measure, predict and report results in a collaborative way across the extended enterprise, but also the underlying technology as well.
About Hyperion Solutions
Hyperion, a global leader in business performance management software, creates solutions that help companies measure performance and drive profitability. Hyperion’s Business Performance Management Suite of packaged and tailored applications and its open, integrating business intelligence platform, Hyperion Essbase XTD, enable companies to set goals, model and plan performance, monitor and report key results, analyse underlying business drivers and anticipate future performance of core business activities. Hyperion products are used by more than 6,000 customers around the world to enable financial, organisational, customer relationship, supply chain and channel performance management. Hyperion has a network of more than 400 partners to provide innovative and specialised business performance management solutions and services.
Headquartered in Sunnyvale, California, Hyperion generated annual revenues of more than $500 million in fiscal 2001. The company employs more than 2,300 people in 20 countries and is represented in 16 additional countries through distributor relationships. Hyperion is traded under the Nasdaq symbol HYSL. For more information, please visit http://www.hyperion.com/uk, e-mail firstname.lastname@example.org or call 01784 228015.
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 performance management 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 revi!
ew the company'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 February 13, 2002. 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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