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Survey of Fortune 1000 at the Annual Hyperion Solutions Conference Reinforces
Trend in Companies Extending Business Planning Beyond Finance
SUNNYVALE, Calif., May 11, 2004 – Fortune 1000 companies are increasing their use of dashboards and extending their planning processes beyond finance to operational management, according to a survey conducted at Hyperion’s (Nasdaq: HYSL) Solutions 2004 conference April 26-28 in Chicago. The survey also showed a sharp increase in the use of dashboards to improve monitoring, and scorecards to improve alignment between business goals and individual results.
According to the survey, 43 percent of respondents said that they have extended the planning, budgeting and forecasting process out beyond their finance departments to integrate other key groups, including sales, marketing, operations, human resources and engineering.
“Dynamic planning is the key to managing uncertainty, rapid change and complexity,” said Jeffrey Rodek, chairman and CEO of Hyperion. “Dynamic planning requires that plans be owned by management, not just finance. The attendees at our Solutions conference reinforced that this is a real and growing trend.”
The survey also found that respondents are increasingly relying on dashboards for performance monitoring, and scorecards to help align business strategies and objectives with those of their departments, teams and individuals. According to the survey, 41 percent of respondents are adopting these measures to help drive performance broadly and deeply across their organizations.
Solutions 2004 also featured a Dashboard Workshop, sponsored by HP, which allowed attendees to engage in a dashboard demonstration as well as complete a survey designed to uncover information about their dashboard needs. The Dashboard Workshop alone recorded more than 1,200 respondents, of which 30 percent are live with dashboards today, and more than 45 percent are considering implementing a dashboarding solution. These numbers support the sampling of data taken from the annual survey.
Vijay Menta, senior programmer analyst, administrative systems information technology services at Yale University, participated in the Dashboard Workshop and evaluated the potential benefit of implementing dashboards in his organization.
“Dashboards enable an enterprise to make adjustments in real time so a company can hit and exceed performance targets,” Menta said. “These dashboards provide a finger on the pulse of key performance indicators for the business.”
The annual survey results also indicated that while nearly a third of respondents have adopted sophisticated modeling, planning and reporting software, some 46 percent are still looking to escape “spreadsheet hell.”
“Customers relying on lots of disconnected spreadsheets are increasingly recognizing the problems they cause,” said Rodek. “It is incredibly difficult to get to a single version of the truth when people across departments, regions and geographies are dealing with different information locked away in silos. More and more companies are seeing the value of integrated reporting, modeling, planning and analysis, and that is clearly the future.”
More than 1,500 attendees responded to the annual survey; the results indicated here are based on a tally of the first 500 surveys submitted. The Solutions 2004 conference, the world’s premier event for Business Performance Management, attracted nearly 4,000 customers and partners.
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 email@example.com or call 01784 228015.
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