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HYPERION PARTNERS SHOWCASE BASEL II, SARBANES-OXLEY, COMPLIANCE SOLUTIONS AT ANNUAL CONFERENCE
CHICAGO – HYPERION SOLUTIONS 2004 CONFERENCE – April 28, 2004 – Hyperion (NASDAQ: HYSL) and its partners are responding to growing customer demand for technology to support dynamic business performance requirements, including recent changes in compliance and governance rules worldwide. Here at its annual user conference, Solutions 2004, Hyperion and numerous partners are presenting solutions that make it easier for companies to meet the compliance requirements of Sarbanes-Oxley, Basel II and other mandates.
According to a report issued in late 2003 by industry analyst firm AMR Research, “companies are stepping up their response and planning significant spending in 2004,” on compliance-related activities. AMR expects technology expenditures to exceed $1 billion this year.
“Banks globally are moving through the analysis phase into implementation of the new compliance rules,” said Herman Heyns, partner, financial services, Accenture. “Our clients are increasingly looking to Basel II not just as a compliance cost but as an investment in a new source of intelligence to improve risk management and understand how to better serve customers.”
“We are impressed with the depth and breadth of offerings that our partners are bringing to Solutions 2004,” said John Pierson, vice president and general manager, Americas, for Hyperion, the global leader in Business Performance Management software. “These solutions exemplify how our partners are leveraging the performance visibility Hyperion software provides to power solutions that help customers grapple with dynamic compliance requirements.”
In break out sessions at the event, Hyperion partners are discussing a variety of compliance solutions, including the following:
Accenture is presenting on how banks and other financial services companies can use a Hyperion Business Intelligence platform-based solution that assists with an enterprise view of risk in accordance with Basel II regulations. The discussion will include suggestions on the potential for transforming a compliance duty into competitive advantage.
Axentis is presenting an integrated solution, announced with Hyperion today, that brings together Hyperion's financial consolidation and reporting features with Axentis' control documentation and associated risk measurements. Based on the combination of Hyperion Financial Management and Axentis Enterprise, the solution will support customers’ Sarbanes-Oxley compliance initiatives by uniting financial statements and risk control analysis in a single view.
BEA Systems is discussing a comprehensive portal to assist financial services institutions with Basel II compliance, reporting and ongoing operational risk management. It incorporates the latest Basel II requirements, industry best practices and complete functionality for managing operational risk from discovery to resolution.
Consulting Technology Partners will talk about a solution the company says is increasing customers’ confidence in their Sarbanes-Oxley compliance by supporting shortened reporting cycles, improved audit trails, internal reviews, controls and validations.
Deloitte is presenting OneView, a corporate governance solution announced today with Hyperion, which combines Hyperion software—including an intuitive compliance dashboard—with Deloitte’s proven corporate governance consulting experience in key areas such as internal control design. The solution delivers integrated control monitoring and reporting in one actionable, seamless environment. Moving companies beyond compliance, OneView can consolidate diverse financial and operational information to help continuously monitor and build performance.
Paragon Consulting Group is discussing how to improve intercompany reporting and how to cut days off the reporting cycle while providing a full transactional audit trail to fulfill all Sarbanes-Oxley requirements.
UpStream Software is discussing its WebLink solution for managing data integrity with a prepackaged Web-based financial data collection application. WebLink offers unique Sarbanes-Oxley compliance features including a central repository for all source data plus process control questionnaires to assess, maintain, and monitor financial controls. Upstream and Hyperion together announced today an extension to their partnership that will enable Hyperion to market WebLink to its customers.
In addition, Hyperion is previewing its own compliance dashboard at Solutions 2004. Based on Hyperion Intelligence, it will provide a clear and easy-to-use interface designed to deliver increased visibility into compliance with Sarbanes-Oxley, transparency into potential risk exposures, and ultimately -- greater confidence in financial statements and disclosures.
Taken together, these solutions provide companies with vastly more visibility and control over the complexities and risks associated with the fast-moving requirements of global compliance. For more information, visit http://www.solutions2004.com/conference.
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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