New Study from META Group Reports that 85 Percent of
Companies Plan to Implement Business Performance Management Solutions in the Next 18 Months
SUNNYVALE, Calif., August 6, 2003 – Hyperion (Nasdaq:HYSL), the leader in Business Performance Management software, today announced that the majority of companies recently surveyed by the META Group are committed to rolling out Business Performance Management solutions across their organizations in the next 18 months. The study found that these enterprises are increasingly interested in Business Performance Management solutions to provide better decision-making capabilities, improved efficiency of reporting and planning, and to create a “single version of the truth” of their company’s metrics, plans and operating results.
Among 459 individuals surveyed—including CIOs, CTOs, CFOs, CEOs, and vice presidents of IT and finance—85 percent consider Business Performance Management to be a priority for their company. The study analyzed the Business Performance Management cross-application analytics requirements necessary to achieve information management goals, corporate plans to meet these goals, and perceptions of the vendors and service providers that serve this market. META Group’s study attributes the dramatic increase in the adoption of Business Performance Management to the increasing awareness of the value of integrated analytics, the resurrection of IT investment programs and the recent accounting scandals resulting in regulations such as the Sarbanes-Oxley Act.
“The corporate compliance efforts mandated by individual countries are forcing companies of all sizes to migrate from paper-based and antiquated financial accounting methods to fully electronic, truly integrated, cross-organizations BPM solutions,” said John Van Decker, vice president, META Group. “Organizations have a rapidly growing need to manage the decentralized organization through planning and performance management solutions that are fully-integrated and offer rich BPM capabilities, like Hyperion, provides.”
The study found that large organizations—those with $1 billion in revenues and above—are the most advanced in their use of and investment in sophisticated analytics tools, and have the most mature infrastructures for financial analytics. These global, decentralized and largely public companies currently have the most pressing needs for consolidated reporting across multiple systems, integrated business planning functions, and increased transparency for regulatory compliance.
ERP versus BPM-Focused
The study also showed that, despite expectations among some observers that incumbent ERP vendors are in the best position to capitalize on the demand for BPM solutions, only 17 percent of respondents favored the tools from their ERP vendors—such as PeopleSoft, SAP and Oracle—over those from companies solely focused on Business Performance Management, such as Hyperion.
The Spreadsheet Continuum
While many companies have moved away from paper-based accounting methods, the study revealed that spreadsheets are the most commonly used tool for performing individual performance management activities. As a result of flexibility, portability and heavy legacy use, spreadsheets have provided companies of all sizes first steps toward automated financial planning. Because organizations rely so heavily on spreadsheets, the study outlined how critical it is that Business Performance Management solutions provide full interoperability with spreadsheets to make it easy for customers to continue to rely on them as needed.
Hyperion supports this finding, as many of its Business Performance Management customers cite the ability to integrate spreadsheets into the system to ensure data integrity and a single version of the truth, as the reasons they chose Hyperion.
“Although we still rely on spreadsheets for some facets of reporting, Hyperion allows us to spend less time collecting data and more time analyzing it,” said the Senior Manager for Financial Analytics at International Rectifier Corporation, Doug Burke. “Now, we do things in minutes that used to take us hours, and we’re able to forecast sales and spot suspicious numbers quickly.”
Hyperion is the global leader in Business Performance Management software that enables companies to translate strategies into plans, monitor execution and provide insight to improve financial and operational performance. More than 6,000 customers worldwide use Hyperion's Business Performance Management family of packaged and tailored applications and its leading business intelligence platform. Hyperion has a network of more than 330 partners to provide innovative and specialized Business Performance Management solutions and services.
Headquartered in Sunnyvale, California, Hyperion generated annual revenues of $510 million in fiscal 2003. The company employs more than 2,100 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 www.hyperion.com/uk, e-mail email@example.com or call 01784 228015
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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 revie
w the company's filings with the Securities and Exchange Commission, including the Report on Form 10-K filed on September 25, 2002 and the Report on Form 10-Q filed on May 14, 2003. The company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
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