Leading Companies Automate Business Performance Management With CorVu

Business Wire, Oct 11, 2000

Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Oct. 11, 2000

CorVu Corporation (OTCBB: CRVU), a leading provider of Enterprise Business Performance Management, Balanced Scorecard and Business Intelligence solutions, today announced growing acceptance of automation in the area of business performance management solutions.

A number of strategy focused, innovative companies have recently chosen CorVu's solutions to improve operations and maximize business performance.

The Balanced Scorecard continues to gain acceptance by corporate America as a shrewd management tool. According to a recent article in The Balanced Scorecard Report, "The organization must be aligned around its strategy. Performance management systems are designed to create organizational alignment. Most performance management systems are designed around the annual budget and operating plan. They promote short-term, incremental, tactical behavior. You cannot manage strategy with a system designed for tactics. It is our belief that it is this need - the need for strategic enterprise management - that is driving the widespread adoption of Balanced Scorecards." CorVu provides an automated solution that enables effective strategy execution.

"Companies are increasingly recognizing that performance management systems can translate into significant competitive advantage. With CorVu's automated solutions our customers link performance results to strategy, and their initiatives and action plans are linked to enterprise performance objectives," Justin MacIntosh, CEO and president of CorVu Corporation, noted. "We are delighted to have been chosen as the Balanced Scorecard automation partner by some of the world's leading companies."

LEADING THE AUTOMATION TREND

"The balanced scorecard has become an integral part of our operating philosophy," stated Dieter Huckestein, president, hotel division of Hilton Hotels Corporation. "It's embraced by all our brands system-wide and motivates team members to achieve higher levels of performance by keeping everyone focused on results. Now it will be fortified with enhancements such as `drill-down' reports so each operating department can track their own individual scorecard by allowing hotels the ability to instantly extract and aggregate relevant financial, customer and team member loyalty data while comparing performance with industry benchmarks and the competition."

Keith Sherlock, UK finance director for specialist oil refiner AB Nynas Petroleum, noted, "CorManage provides the closest match to our new measurement philosophy. It is leading edge and we liked the easy-to-assimilate graphical way that information is displayed. The major driving force for the project is to focus on strategy and monitor the cause and effect that individual KPIs have on that strategy. We also wanted a means of communicating strategy across the whole workforce in a way that everyone can understand and use; you don't have to be a computer whiz-kid to use this product. CorVu's balanced scorecard is an effective way of achieving our goals."

"CorVu's CorManage offered a complete Enterprise Business Performance Management solution with full decision support capabilities that other solutions lacked. In addition, CorVu's DynaMart technology will afford us the ability to provide web-based inquiries to our clients without adversely impacting the performance of our production systems," said Bill Esposito, senior business and systems analyst, at Healthcare Cost Containment services provider, Concentra Preferred Systems. "And, since CorManage is certified by the creators of the Balanced Scorecard, the Balanced Scorecard Collaborative, we had extra assurance that we were choosing the right solution. This implementation will be key in the growth initiatives that are projected for the next three years."

SIGNIFICANT SIGNINGS

Counted among CorVu's recent new customers are nearly a dozen Fortune 500 companies. These customers are involved in a wide range of industries including financial services, retail, transportation, insurance and manufacturing. They are using CorVu to monitor performance in a variety of areas, including customer and employee satisfaction and retention, financial performance and operational efficiency.

"CorVu's solutions continue to gain acceptance by some of the world's most influential companies," concluded MacIntosh. "Our customers can create a true strategic management system throughout their entire organization. We are committed to working with these companies to ensure their continued success and growth by providing them with automated, best-of-breed business performance management solutions."

About CorVu Corporation

CorVu is a global provider of enterprise business performance management and Balanced Scorecard solutions, which help thousands of companies effectively execute strategy and monitor operational results from a position of knowledge. CorVu builds accountability into every action and provides a consistent basis for reacting to real-time events, empowering executives to drive organizational change, achieve continuous improvement and exceed performance targets. More than 2500 customers, including companies such as American Express, British Airways, Mincom, Prudential, Ford Motor Company, Sara Lee and Star-Kist Foods have selected CorVu's Enterprise Business Performance and Balanced Scorecard Solutions. For more information, please visit www.corvu.com or call (800) 610-0769.