FOR IMMEDIATE RELEASE
Object Marketing (for Hyperion)
Tel: (020) 8762 9292
HYPERION FINANCIAL MANAGEMENT CONTINUES TO GAIN MOMENTUM GLOBALLY WITH CUSTOMERS
Demand for Financial Transparency and Accurate Reporting Fuel Adoption of
Hyperion Financial Management Software
SUNNYVALE, Calif., Aug. 24, 2004 – Hyperion (Nasdaq:HYSL), the global leader in Business Performance Management, today announced that Hyperion Financial Management continues to gain momentum among some of the world’s leading companies. Customers such as Johnson Controls, Rohlm & Haas, Maxxium Worldwide and Textron are deploying Hyperion Financial Management to help manage increasingly complex reporting and regulatory requirements, to drive transparency and speed delivery of financial and operational data.
Hyperion Financial Management is a Web-based software application that delivers global collection, financial consolidation, reporting and analysis in a single, highly scalable solution.
Textron, the $15 billion company with a global network of aircraft, fastening systems, industrial products and finance businesses, is relying on Hyperion Financial Management to streamline its financial consolidation process across the enterprise, and to speed the delivery of financial results.
“We see Hyperion Financial Management as an enabling technology that helps us shorten our financial close cycle, with consistent processes across the enterprise,” said Larry Costello, director, finance information systems for Textron. “For example, Hyperion software provides features that validate our data so a balance sheet cannot be out of balance. Our business units have an accurate and up-to-date database that helps them better understand the business.”
Textron uses the software to create nearly 100 different types of reports analyzing its financial data. Managers can create reports for different division levels, from the plant to the corporate level. This information arms managers at various levels of the organization with the insight needed to make strategic decisions. Hyperion software also enables Textron to create comparative reports such as plan versus actual results and plan versus forecasts that enable detailed variance analysis.
Maxxium Worldwide, a global marketing and distribution partnership between four leading wine and spirits producers, uses Hyperion Financial Management to consolidate financial information from all its partners and merge commercial and financial reporting, analysis, modeling and planning into a single, scalable Web-based solution.
“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.”
Terex Corporation uses Hyperion Financial Management to consolidate information from disparate financial systems used throughout the world.
“Hyperion Financial Management is the right solution to handle our growth and support our global reporting needs,” said Mark Cohen, vice president and corporate controller for Terex Corporation. “The impact of Hyperion’s solution on our organization has been impressive: It has allowed us to eliminate many of our manual processes and has significantly reduced the time to consolidate and report to management. With Hyperion, we can now spend time analyzing results rather than processing data.”
The unmatched scalability of Hyperion Financial Management is a significant advantage for extended, international companies with complex reporting and consolidation requirements. In a third-party scalability test done by Intel® Solution Services, Hyperion Financial Management was found to be fully scalable to 1,000 concurrent users or more while meeting industry standard response times for end-user tasks.
“It’s critical that every company have in place a business performance management solution that delivers a single version of the truth and enables continuous performance improvement and
accountability throughout its activities — for all managers, at all levels, across the enterprise,” said Rich Clayton, vice president of product marketing for Hyperion. “With Hyperion Financial Management in place, leading companies are able to meet their corporate financial reporting requirements while gaining a level of insight essential for making strategic business decisions with the utmost confidence.”
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 2,500 people in 20 countries. Distributors represent Hyperion in an additional 25 countries. Headquartered in Sunnyvale, California, Hyperion generated annual revenues of $622 million for the 12 months that ended June 30, 2004. 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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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 the 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 Form 10-Q filed on May 10, 2004. The company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
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