Cosmetic Leader Adds Hyperion Strategic Finance Product to Drive Growth, Lower Costs
SUNNYVALE, Ca., August 12, 2003– Hyperion (Nasdaq: HYSL) announced today that Coty Inc., one of the world’s leading marketers of cosmetics and fragrances, has selected Hyperion Strategic Finance for its advanced business modeling and forecasting capabilities. With $1.7 billion in revenue and more than 7,500 employees in more than 25 countries around the world, Coty is using Hyperion Business Performance Management Software to drive financial and operational performance enterprisewide with fact-based decision making. Coty is adding Hyperion Strategic Finance to take its financial modeling and planning analysis to a higher level.
Hyperion Strategic Finance will help Coty effectively model different planning scenarios and impacts on the future valuation of the company. The software can help Coty predict profit numbers under different economic scenarios, and model the impact on cash, treasury funding options and capital structures. With the addition of Hyperion Strategic Finance to Hyperion Financial Management and Hyperion Essbase XTD already in use at the company, Coty has a comprehensive Business Performance Management solution enabling it to meet its long-term goals of driving profitable top-line growth, improving resource efficiency and building a streamlined results-driven enterprise.
“Hyperion Strategic Finance provides us with additional abilities to view information from throughout our company, mitigating our risk for important business decisions,” said Jim Shiah, senior vice president and corporate controller for Coty. “The software will enable us to more efficiently analyze and integrate income statement, balance sheet and cash flow impacts of our business decisions. Since we already use Hyperion software for financial consolidation and business reporting, we will have a seamless, integrated process for sophisticated modeling and forecasting with Hyperion Strategic Finance.”
Rich Clayton, vice president of product marketing for Hyperion, explained that Coty will have the ability to integrate business rules and financial data between Hyperion Financial Management and Hyperion Strategic Finance, allowing users to create integrated financial models based on real-time data.
“Instead of spending time writing and checking formulas to create reports and forecasts, managers using Hyperion Strategic Finance can iterate economic scenarios and link those scenarios to dynamic financial models,” he said. “It’s ultimately the difference between producing basic rolling forecasts and leveraging data to drive performance.”
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 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 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.
Hyperion is a registered trademark of Hyperion Solutions Corporation. All other trademarks and company names mentioned are the property of their respective owners.
This press release was distributed by ResponseSource Press Release Wire on behalf of Object Marketing in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.