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Business Performance Management Suite to Help Norwegian Telecom Provider Save Money, Improve ROI
SUNNYVALE, Calif., December 17, 2003 – Hyperion (Nasdaq: HYSL) today announced that Norwegian telecommunications provider, Telenor, has purchased Hyperion Business Performance Management software to help the company optimize its IT infrastructure while improving financial management.
Telenor had previously used individual applications from various suppliers in its subsidiary companies to support financial management tasks including budgeting, analysis and reporting. The company chose to implement Hyperion software as part of a cost savings initiative that includes reduction in the number of its technology vendors, optimization of IT architecture and an improved rate of return on technology investments.
“A key objective at Telenor is to implement a uniform suite of Business Performance Management applications across the enterprise,” said Andreas Vik, Project Manager for the Hyperion implementation at Telenor. “We assessed our options and determined that Hyperion offered the most comprehensive solution to meet our holistic needs for budgeting, planning, analysis and reporting, as well as scorecarding and monitoring. We expect our investment in Hyperion solutions to provide improved overall financial management.”
Telenor has implemented Hyperion Planning for budgeting, which it will use as an integral part of a budget management process that includes a top-down and bottom-up approach. This approach includes decentralized administration and development of local budgets that roll up to support Telenor’s global operations.
Hyperion software will be used by approximately 500 employees at Telenor, the largest Norwegian telecommunications company with significant international business as a mobile phone operator.
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 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 review t
he company's filings with the Securities and Exchange Commission, including the Report on Form 10-K filed on August 13, 2003 and the Report on From 10-Q filed on November 7, 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.
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