Actuate Delivers the First Financial Performance Management (FPM) Solution to Distribute Financial Accountability Throughout the Organisation
Bracknell, Berkshire, UK - February 14th , 2005 – Actuate Corporation (NASDAQ: ACTU), the world leader in Enterprise Reporting Applications, today announced customer and industry support for the Actuate Financial Performance Management (FPM) solution (See related announcement, “Actuate Solution Distributes Fiscal Accountability Across the Enterprise” 02.14.05.) Utilising Actuate’s industry leading Enterprise Information Integration (EII) technology, Actuate FPM is the first technology solution to directly integrate data from disparate Financial, Human Resource, Revenue and Budgeting & Forecasting systems to allow on-demand report access for every employee with financial responsibility. Distributing accountability throughout the company allows executives to confidently comply with external reporting requirements, such as the Sarbanes-Oxley Act, and improve financial performance.
"Actuate's FPM solution addresses the widespread problem of organisations having key pieces of financial performance information residing in different systems with different reporting capabilities for providing information to key decision-makers,” said Joseph Rahaim, vice president of Capgemini. "By providing comprehensive and granular visibility into financial information, Actuate's solution engages operational managers in the finance performance management process. Proactive monitoring can also help companies optimise their business decisions and financial performance”
“Obtaining useful financial performance information on a timely basis remains more difficult than it should be,” said Robert Kugel, CFA, vice president and research director of financial performance management at Ventana Research. ”Companies want to improve individual performance and increase accountability. Many need to implement specific monitoring and reporting systems for Sarbanes-Oxley compliance. However, in order to do this they must be able to distribute relevant information more broadly and more frequently. Organisations must have systems that are able to do this. Moreover, to truly support performance improvement, financial reporting and analysis systems need to provide new capabilities such as in-context collaboration features or integration of heterogeneous financial and operational information that is accurate and up-to-date.”
“Actuate FPM provides the ability to broaden accountability during the fiscal forecast process, while also ensuring that a single version of the truth is maintained," said Denise Price, manager of enterprise systems at York University. "It allows for the distribution of financial accountability throughout the organisation and provides integration of operational information, such as Human Resources data, with financial information to accurately forecast financial scenarios and ensure that resources are used in the most efficient manner possible"
“The Sarbanes-Oxley Act has forced many organisations to evaluate their financial reporting applications and question disparate approaches to reporting. Consequently, many organisations are considering consolidating reporting platforms to enable standard enterprise reporting objectives, often within the paradigm of business performance management (BPM), and linkage to common metadata and ensure consistency," states John Van Decker, senior vice president at META Group. "Leading enterprise reporting vendors, especially those that help bridge the continuing gap between unintegrated budgeting/planning and financial transaction systems, may be well positioned to become part of a longer term BPM strategy."
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.
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