Business Performance Management Software to Streamline Financial Reporting by 21 Days, Lead to Competitive Edge
SUNNYVALE, Calif., August 13, 2003 —DENSO International America has selected Hyperion (Nasdaq: HYSL) Business Performance Management software to meet its goal of reducing the financial consolidation and reporting cycle. As the North American headquarters of DENSO Corporation, the $19.4 billion supplier of advanced automotive technology, systems and components, the company recognizes that by quickly delivering key performance data, its parent company can make essential product and business strategy decisions, satisfy investors and gain a competitive edge in the market.
“We’ll now not only be able to complete our financial close much more quickly than before, but also we will increase confidence in our performance information,” said Kim Madaj, senior manager of North American Reporting, DENSO International America. “Our managers will enjoy greater analysis, simplified reporting and global access to financial data.”
With 25 locations throughout North America, DENSO recognized the need for a consolidated and centralized way to manage financial consolidation, reporting and analysis. By implementing Hyperion software, the company can reconcile and confirm all performance data throughout the division much more easily than in the past. Because the financial team will no longer have to consolidate multiple spreadsheets, the Hyperion solution will also enable them to spend more time on analysis, accomplishing more value-added results without adding additional headcount.
“DENSO turned to Hyperion Business Performance Management solutions to make a significant reduction in closing its financials and reporting to investors with confidence,” said Nazhin Zarghamee, chief marketing officer for Hyperion. “Because the global automotive supplier market is highly competitive, a faster close is critical in enabling DENSO to spend more time analyzing performance figures and also communicate more operating data to investors prior to the competition. These are the hallmarks of a performance-accountable organization that can be achieved with Hyperion Business Performance Management software.”
Deloitte Consulting is leading the Hyperion software implementation at DENSO. As a Platinum level global system integration partner for Hyperion, Deloitte Consulting offers industry expertise in automotive and manufacturing. With its understanding of industry and business issues, the company can ensure that DENSO meets its corporate objective to reduce the time to financial close through fast implementation of Hyperion software and use of global best practices.
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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