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MAXXIUM TOASTS ITS SUCCESS WITH HYPERION BUSINESS PERFORMANCE MANAGEMENT SOFTWARE
Solution Distills Financial Consolidations, Reporting, Analysis and Modeling Into a Single Web-Based System for Leading Wine and Spirit Distributor
SUNNYVALE, Ca., January 27, 2004 – Hyperion (Nasdaq: HYSL) today announced that Maxxium Worldwide, a global marketing and distribution partnership between four leading wine and spirits producers, uses Hyperion Business Performance Management software to consolidate financial information from all the partners and merge commercial and financial reporting, analysis, modeling and planning into a single, scalable Web-based solution. The company is generating more detailed reports in significantly less time, with 24 x 7 accessibility worldwide. Hyperion Financial Management is at the core of a financial consolidation and reporting system that is driving a more robust and effective distribution network.
Maxxium Worldwide is a distribution and marketing partnership that formed in 1999 between four leading producers - Highland Distillers (Scotland), Jim Beam Brands (USA), Rémy-Cointreau (France), and Vin & Spirit AB (Sweden). The companies came together to further extend their products’ reach in the global market. However, each partner was operating according to its own national standards and using different legacy information systems. Maxxium chose Hyperion’s software to bring the information together in a unified, application with standardized reporting procedures and tools across the enterprise, resulting in a comprehensive financial management system that could accommodate vast amounts of information.
“We have been able to unify our commercial and financial reporting, analysis, modeling, and planning in a single Web-based application that we can continue to extend as we grow,” said Brian Mackie, chief financial officer for Maxxium Worldwide. “The full Web-reporting capability eliminates local input sites, which drastically reduces maintenance and increases flexibility so that we can address business issues.”
“The year-end consolidation is very fast since we moved to Hyperion Financial Management,” said Eelco Spiker, brand consolidation manager for Maxxium Worldwide. “It only takes 20 minutes to consolidate 250,000 records, and it’s easy to work with large sets of data. Before, our remote sites were sending files to headquarters. Now, they are inputting data into the database and producing reports themselves. There is improved collaboration among the sites and greater efficiency.”
Hyperion’s software has enabled Maxxium to develop more complex calculations to forecast results, and can also create business models and what-if scenarios, importing and examining six months of historical data used to predict future results.
With Hyperion Financial Management, Maxxium has confirmed that it is already able to generate reports to comply with the upcoming 2005 IFRS (International Financial Reporting Standards – formerly known as the International Accounting Standards) requirements. The solution has brought consolidations into one appropriate chart of accounts at the headquarters level.
“Maxxium has found that when you can evaluate concrete metrics such as revenue, profits and marketing data with comprehensive, detailed and accurate financial reporting, you can better manage your organisation,” said Rich Clayton, vice president of product marketing for Hyperion. “In addition to generating reports for legal and regulatory compliance, Hyperion software facilitates delivery of insightful financial and performance analysis to support the strategic and operational management decisions that are particularly complex in a partnership.”
Hyperion is the global leader in Business Performance Management software. More than 9,000 customers – including 91 of the FORTUNE 100 – 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.
Named one of the FORTUNE 100 Best Companies to Work For 2004, Hyperion employs approximately 2,600 people in 20 countries. Distributors represent Hyperion in an additional 25 countries. Headquartered in Sunnyvale, California, Hyperion – together with recently acquired Brio Software Inc. – generated combined annual revenues of $612 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 firstname.lastname@example.org 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 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.
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