Business Services Industry
Hyperion Sees Growing Trend Towards Adoption of Business Performance Management Solutions as Companies Comply With Sarbanes-Oxley
Business Wire, March 6, 2006
SANTA CLARA, Calif. -- Hyperion (Nasdaq:HYSL), the global leader in Business Performance Management software, said today that Sarbanes-Oxley compliance is likely to drive increased adoption of business performance management solutions. The company indicates that a growing number of customers are leveraging their investment in financial reporting software to meet compliance requirements and also keep pace with a dynamic and highly complex business environment.
Hyperion, the global leader in Business Performance Management, offers a Web-based, integrated solution for meeting regulatory requirements and managing overall business performance that includes scorecarding and dashboards; modeling; planning, budgeting and forecasting; and financial consolidation and reporting software.
"Our solution not only provides the critical insight companies need to gain confidence in the accuracy of their financial information, it also gives them the capability to manage business performance by identifying opportunities for growth and profitability," said Rich Clayton, vice president of product marketing for Hyperion. "Because we integrate data from multiple sources and provide a common view across the enterprise, we enable an integrated financial and performance management process that aligns tactics with strategies. Such a comprehensive solution not only helps meet compliance requirements but also provides the capability to increase efficiency and profitability across the organization."
Hyperion alliance partner Deloitte Consulting LLP also believes that companies will increasingly recognize compliance as an opportunity and driver to help improve business performance.
"We're seeing industry-wide demand for solutions to make compliance sustainable and, at the same time, more efficient and more effective," said Lee Dittmar, principal and leader of Deloitte Consulting's Enterprise Governance practice. "Many companies are beginning to act on improvement opportunities identified through their Sarbanes-Oxley efforts. Increasingly, companies are undertaking projects to better leverage technology to improve information quality, automate internal controls and enhance monitoring and reporting capabilities."
A study from leading analyst firm Gartner, Inc. confirms an increase in spending for financial compliance management and corporate governance software technology in 2005 and forecasts continued growth in those fields through 2007. The report, entitled Sarbanes-Oxley Spending Continues to Disrupt Software Purchases, was written by analysts Tom Eid, Joanne M. Correia and French Caldwell and was published on December 9, 2005.
The Gartner study points out that as companies mature in their approach to compliance and corporate governance, they will move through a continuum of technologies from point solutions for compliance to holistic solutions for governance and corporate performance management (CPM). Additionally, the study states corporate performance management provides the technology and infrastructure link between governance and compliance, providing insight and visibility into how well an organization is complying.
Gartner defines CPM as not only the process used to manage corporate performance but also the methodologies that may drive some of the processes, the metrics used to measure performance against strategic and operational performance goals. Hyperion uses a similar term, Business Performance Management, to define its solutions that are designed to improve financial and operational performance.
About Hyperion
Hyperion Solutions Corporation is the global leader in Business Performance Management software. More than 11,000 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. Hyperion offers the industry's only Business Performance Management solution that integrates financial management applications with a business intelligence platform into a single system.
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.
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 31, 2005 and the report on Form 10-Q filed on February 8, 2006. The company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
- Using object-oriented analysis and design over traditional structured analysis and design


