LONDON, UK, Nov 3rd, 2003 – Tomkins plc, a £3.3bn world class global engineering group employing some 40,000 people, plans to streamline its financial reporting and consolidation capabilities through the purchase of technology solutions from Hyperion, (Nasdaq: HYSL) the global leader in Business Performance Management software.
“We were previously utilizing two completely separate systems for statutory and management reporting,” said Liz Lewzey, vice president of planning and reporting for Tomkins. “As a global organization with a large number of operating subsidiaries, we have complex financial reporting needs. We realized that we needed to greatly improve access to core centrally held financial data as well as reduce the overhead involved in supporting two different reporting systems. We therefore decided to standardize on one financial reporting platform that would provide a streamlined, visible and easy to maintain financial information system. After evaluating a number of potential solutions, we chose Hyperion Financial Management. We believe that Hyperion Financial Management will deliver the ‘one version of the truth’ we need. It will effectively become a one-stop information shop supporting a range of financial functions including tax and treasury.”
The initial roll out will see around 120 users of the Hyperion Financial Management solution.
Tomkins is a world class global engineering group with market and technical leadership across three businesses: Industrial and Automotive, Air Systems Components and Engineered and Construction Products.
Tomkins is committed to enhancing shareholder value through increasing the economic value of its businesses by concentrating in product and geographic markets in its chosen sectors where the businesses have sustainable competitive advantage, and which offer prospects for profitable growth.
Tomkins has sales of approximately £3.3bn employing some 40,000 people throughout the world.
Hyperion is the global leader in Business Performance Management software. More than 9,000 customers rely on Hyperion software to translate strategies into plans, monitor execution and provide insight to improve financial and operational performance. Hyperion combines the most complete set of interoperable applications with the leading business intelligence platform to support and create Business Performance Management solutions. A network of more than 600 partners provides the company’s innovative and specialized solutions and services.
Headquartered in Sunnyvale, California, Hyperion employs approximately 2,600 people in 20 countries and is represented in 25 additional countries through distributor relationships. Hyperion, together with recently acquired Brio Software Inc., generated combined annual revenues of 2 million for the 12 months ending June 30, 2003. 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 review t
he company's filings with the Securities and Exchange Commission, including the Report on Form 10-K filed on August 13, 2003. The company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
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