Business Services Industry
INVISTA Weaves Greater Insight Into Reporting With Hyperion Software; Fiber, Apparel and Interior Industry Leader to Use Hyperion Financial Management for Legal Entity and Management Level Reporting
Business Wire, July 25, 2005
SANTA CLARA, Calif. -- Hyperion (Nasdaq:HYSL), the global leader in Business Performance Management software, today announced that INVISTA, one of the world's largest integrated fiber, resin and intermediates companies, will use Hyperion Financial Management to consolidate legal entity and management reporting into a unified financial management platform.
Following a recent merger, the company found that it needed to combine disparate enterprise systems. Longtime Hyperion customer INVISTA had relied on Hyperion Enterprise for legal entity reporting, using a mainframe system in one business unit and spreadsheets in another business unit for management reporting. Its selection of Hyperion Financial Management is a move to eliminate those multiple sources for reporting to produce a single, unified report for its global operations.
"We were looking for a comprehensive, Web-based solution for collection, consolidation and reporting," said Anand Bahl, performance reporting director at INVISTA. "The Hyperion software will make it possible for us to leverage the investment in our SAP enterprise resource planning system and improve our financial close as well as build a sustainable compliance framework for use in the future."
About INVISTA
INVISTA is an integrated polymer, intermediates and fibers business with a global presence on six continents. It operates five major businesses: Apparel; Interiors; Intermediates; Performance Fibers; and Polymer and Resins. INVISTA delivers exceptional value for its customers through market insights and technology innovations, along with a powerful portfolio of the most recognized global brands and trademarks in their respective industries including: ADI-PURE(R), ANSHUIBAO(R), ANTRON(R), AVORA(R) FR, C12, COMFOREL(R), COOLMAX(R), CORDURA(R), CORFREE(R), DACRON(R),DBE(TM), DYTEK(R), ESP(R), FORCE(TM) POLYESTER, INVISTA NYCO, LYCRA(R), POLARGUARD(R), POLYSHIELD(TM), SOLARMAX(R), STAINMASTER(R), SUPPLEX(R), SUPRIVA(TM), TACTEL(R), TACTESSE(R), TERATE(R) POLYOLS, TERATHANE(R) and THERMOLITE(R). More information on INVISTA can be found at www.INVISTA.com.
About Hyperion
Hyperion Solutions Corporation is the global leader in Business Performance Management software. More than 10,000 customers rely on Hyperion software to provide visibility into how their businesses are performing and to help them plan and model to improve that performance. Using Hyperion software, customers collect data, organize and analyze it, then communicate it across the enterprise. Along with the industry's most comprehensive and flexible set of interoperable applications, Hyperion offers the leading Business Intelligence platform optimized to support Business Performance Management solutions.
Named one of the FORTUNE 100 Best Companies to Work For (2004), Hyperion serves global customers in 45 countries. A network of more than 600 partners provides the company's innovative and specialized solutions and services. Hyperion generated revenues of $703 million for the fiscal year that ended June 30, 2005 and is traded under the Nasdaq symbol HYSL. For more information, please visit www.hyperion.com.
"Hyperion," the Hyperion "H" logo and Hyperion's product names are trademarks of Hyperion. References to other companies and their products use trademarks owned by the respective companies and are for reference purpose only.
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