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Actuate Delivers the First Financial Performance Management (FPM) Solution that combines Collaboration, Process Management, and Information Integration to Increase Financial Visibility for Managers Throughout the Enterprise

Bracknell, Berkshire, UK - February 14th , 2005 – Actuate Corporation (NASDAQ: ACTU), the world leader in Enterprise Reporting Applications, today announced the immediate availability of the Actuate Financial Performance Management (FPM) solution. Actuate FPM is the first technology solution to directly integrate data from disparate Financial, Human Resource, Revenue and Budgeting & Forecasting systems and present on-demand reports to every employee with financial accountability. This unique ability provides companies with the capability to distribute fiscal responsibility throughout the enterprise, help drive financial performance, and assist in compliance with federal regulations, such as the Sarbanes-Oxley Act.

Rigorous regulatory and global competition demands are forcing companies to transform traditional financial management processes. Economic uncertainties continue to require organisations to cut costs and improve performance, while the responsibilities of finance teams have increased to include ensuring compliance with new federal regulations. These pressures place sizable demands on the finance department, which must keep staff streamlined to control costs while producing accurate fiscal data on-demand. In order to reconcile these competing demands, companies need to tap the financial knowledge of all employees by effectively distributing fiscal responsibility across the organisation.

Customers and Industry Experts have shown strong support for the value of Actuate FPM for distributing financial accountability. (See related announcement, “Customers and Industry Experts Embrace the Actuate Financial Performance Management Solution” 02.14.05.)
“The types of users involved in the initiative of properly delegating accountability and responsibility really span the enterprise, encompassing every organisation and every department, all the way from the executive to the administrative level, even including the clerical area,“ said Lee Geishecker, research vice president of Gartner Research. “In some cases, it even extends beyond the enterprise to trading partners, suppliers, and customers. Any and all users should be involved in contributing to the decision making process.” (Source: Actuate CustomConnects Interview, Featuring Gartner "Improving Financial Performance", October 2004.)

Organisations typically do not distribute financial data beyond the finance department as budget and actual spending data is spread across the company in disparate systems with incompatible reporting capabilities which are unable to scale to reach all users. In order to consolidate this data for financial management reporting, companies either compile reports manually or conduct batch processes to extract, transform and load (ETL) summary data into a central repository. These approaches limit the accuracy, timeliness and/or granularity of information and do not necessarily provide financial information in a format that can be distributed and consumed enterprise-wide.

Actuate FPM is the first financial management solution to deliver comprehensive financial reports which include data pulled directly from heterogeneous planning, budgeting, human resource, sales, and financial systems. Reports can be presented daily or on-demand to thousands of cost-center managers and executives. By providing reliable real-time access to information, FPM frees up financial analyst and management resources, who can then spend time on strategic, value-add activities. Actuate FPM empowers cost centre managers and executives to instantly recognise cost over-runs and under-runs, perform analysis on the impact of budget variances, respond confidently and comprehensively to questions from all stakeholders, and immediately identify and correct operational problems.

Actuate FPM includes process controls embedded directly into the reports allowing executives to monitor and view approvals and annotations in real-time. This ‘communication in context’ directly connects the manager’s comments with the numbers in question to provide an easily accessible, secure and auditable record of all dialogue surrounding the financial performance analysis and review process. Companies are then able to close the books faster, provide more accurate information about performance against budgets and make more precise forecasts. Actuate’s process monitoring allows executives and the finance department to track who has viewed and/or approved end-of-period statements in real-time, ensuring that CEOs and CFOs can comply with external reporting requirements with integrity and confidence.

"Improving financial performance in order to respond to global competition has become an absolute necessity for companies, and the new pressures of regulatory compliance have created an urgency to distribute accountability to achieve this goal,” said Richard Stark, director of financial performance management solutions for Actuate. “The delivery of a unified view of accurate financial information, which has been approved by everyone in the organisation with fiscal responsibility, is the most direct way to improve corporate performance and comply with federal regulations.”

Actuate FPM Features

• Report Library – Allows easy navigation to all relevant information by providing standard report templates including:
Organisational Summaries -- Key performance indicators, Summary Revenue and Expense Statements for the organisation as a whole, by division and by business unit.
Revenue and Expense Detail -- Budget and forecast variances by business unit and by account.
Transaction Detail -- General Ledger and sub-ledger transactions for a single account.
Headcount Report -- Employee names, titles, salaries and other HR related data for current employees as well as for planned additions.
Commitment Report -- Commitments made by cost center managers which remain unbilled, allowing for more accurate expense management against plan and forecast.
Process Control Report – Tracks viewing of individual cost center reports as well as approval or rejection status of each cost center.

• Collaboration – Allows users to add comments to the FPM reports in order to share information and resolve issues regarding specific variances. Annotations database that provides a secure, auditable, record of financial performance analysis commentary for review and as a basis to development management commentary of financial results.

• Role & Responsibility-based Data Access– Increases the scalability of FPM by allowing role based access to only authorised content from a single, centrally stored report.
• iServer – Provides the industry’s most complete and powerful infrastructure for disseminating interactive, actionable business information to employees, customers, and partners which includes:
Integration – Open standards based architecture for integration with all web services, enterprise applications, back-end data sources, and e-business applications and platforms through Actuate Active Portal, Actuate Reportlets and Actuate’s Enterprise Information Integration (EII).
Report Formats -- Users can view and work within cached reports or spreadsheets or generate reports on demand. Reports are available in HTML, DHTML, PDF, RTF, Excel or XML format.
Security – Actuate’s Page Level Security allows IT to create one report that delivers personalised content to thousands of users greatly reducing stress on transactional systems by executing only one query and report management by automatically inheriting user and role privileges.

• Connectors – Provides access to multiple financial systems in sources such as PeopleSoft, SAP, Hyperion Essbase, DB2, SQL, Sybase, Oracle DB, Progress, Excel, ODBC, JDBC, and XML.

• e.Services – Provides 50 days of packaged on-site professional services as part of the Rapid-Time-To-Value Package allowing for quick implementation of Actuate FPM by leveraging Actuate e.Services methodology, product expertise, and industry knowledge throughout the entire project life cycle.

Pricing and Availability

Actuate FPM is immediately available and can be purchased for $150,000 for a 50 user license or $560,000 for a 500 user license. This pricing includes the Actuate iServer, a scalable enterprise reporting server for generating, managing and securely delivering reporting and analytic content to 100 percent of an organisation’s users, and the eServices Rapid Time to Value package (RTTV) allowing companies to go from purchase to value realisation in as little as 5 weeks with only 50 person days. Upgrades are available to existing Actuate customers for $100,000 or less.


About Actuate Corporation

Actuate Corporation is the world leader in Enterprise Reporting Applications that ensure 100% adoption by users Actuate’s Enterprise Reporting Application Platform is the foundation on which Global 9000 organisations (companies with annual revenues greater than $1 billion) and packaged application software vendors develop intuitive, Web portal-like reporting and analytic applications that empower 100% of users with decision-making information. These applications are deployed inside and outside the firewall to improve corporate performance across a range of business functions including financial management, sales, human resource management, and customer self-service. When tested against other business intelligence products, Actuate’s Enterprise Reporting Application Platform has been proven to offer industry-leading scalability and the lowest Total Cost of Ownership. Actuate has 2,900 customers globally in a range of industries including financial services, pharmaceuticals, insurance, and distribution services, as well as the government sector.
Founded in 1993, Actuate has headquarters in South San Francisco, Calif., and has offices worldwide. Actuate is listed on the NASDAQ exchange under the symbol ACTU. For more information on Actuate, visit the company's web site at www.actuate.com.

Copyright© 2005 Actuate Corporation. All rights reserved. Actuate and the Actuate logo are registered trademarks of Actuate Corporation and/or its affiliates in the U.S. and certain other countries. All other brands, names or trademarks mentioned may be trademarks of their respective owners.


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