SAAB Relies on Hyperion for Web-Based Financial Consolidation and Reporting
Announcement posted by Hyperion Solutions 25 Nov 2004
Hyperion Business Performance Management Software Frees Saab from Spreadsheet Inefficiencies, Reliance on Consultants
Hyperion (Nasdaq:HYSL), the global leader in Business Performance Management software, has announced that Saab, one of the world leading high-technology companies in defence, aviation and space, has selected Hyperion Financial Management to replace its internally developed consolidation solution and its cumbersome spreadsheet-based reporting system.
Driven to comply with new accounting standards, such as IAS/ IFRS, and to meet the increased demand for supplementary information, Saab looked for a solution that would allow the company to carry out its own administration and that would be technically powerful with complete Web functionality.
Saab uses Hyperion Financial Management to collect all financial information into a single database, providing global access across the organisation. Currently 90 users at Saab are using the new solution to leverage data and make better, informed decisions.
Used for both legal and operational reporting, Hyperion Financial Management tracks information at the business unit, project and market levels as well as at the organisational level. The solution, which can be easily adapted by users to accommodate changes, simplifies processes such as adding new accounts and new data dimensions.
Hyperions central Web-based solution makes integration with other systems easier and simplifies our administration. said Olle Kalmelid, Saabs group controller. In addition, having all of our data in one place has made the reporting process more efficient. Now, we have a better basis for decisions and can make those decisions faster.
A changeable organisation such as ours needs a flexible system support, said Peter Malmersjo, Saabs group chief accountant. Hyperion Financial Management makes comparisons over time easier and makes our own modifications simple. We have now moved away from reliance on consultants and parallel reporting in Excel, two of our major goals.
Hyperion Financial Management enables performance improvement for users at all levels across the enterprise of Saabs global organisation, said Rich Clayton, vice president of product marketing for Hyperion. With this implementation, Saab can meet its corporate financial reporting requirements while gaining crucial insight for making strategic business decisions.
About Hyperion
Hyperion is the global leader in Business Performance Management software. More than 9,000 customers including 91 of the Fortune 100 rely on Hyperion software to translate strategies into plans, monitor execution and provide insight to improve financial and operational performance. Hyperion combines the most complete set of interoperable applications with the leading Business Intelligence platform to support and create Business Performance Management solutions. A network of more than 600 partners provides the companys innovative and specialized solutions and services.
Named one of the FORTUNE 100 Best Companies to Work For 2004, Hyperion employs approximately 2,500 people in 20 countries. Distributors represent Hyperion in an additional 25 countries. Headquartered in Sunnyvale, California, Hyperion generated annual revenues of $622 million for the 12 months that ended June 30, 2004. Hyperion is traded under the Nasdaq symbol HYSL. For more information, please visit www. hyperion.com or www.hyperion.com/contactus.
Driven to comply with new accounting standards, such as IAS/ IFRS, and to meet the increased demand for supplementary information, Saab looked for a solution that would allow the company to carry out its own administration and that would be technically powerful with complete Web functionality.
Saab uses Hyperion Financial Management to collect all financial information into a single database, providing global access across the organisation. Currently 90 users at Saab are using the new solution to leverage data and make better, informed decisions.
Used for both legal and operational reporting, Hyperion Financial Management tracks information at the business unit, project and market levels as well as at the organisational level. The solution, which can be easily adapted by users to accommodate changes, simplifies processes such as adding new accounts and new data dimensions.
Hyperions central Web-based solution makes integration with other systems easier and simplifies our administration. said Olle Kalmelid, Saabs group controller. In addition, having all of our data in one place has made the reporting process more efficient. Now, we have a better basis for decisions and can make those decisions faster.
A changeable organisation such as ours needs a flexible system support, said Peter Malmersjo, Saabs group chief accountant. Hyperion Financial Management makes comparisons over time easier and makes our own modifications simple. We have now moved away from reliance on consultants and parallel reporting in Excel, two of our major goals.
Hyperion Financial Management enables performance improvement for users at all levels across the enterprise of Saabs global organisation, said Rich Clayton, vice president of product marketing for Hyperion. With this implementation, Saab can meet its corporate financial reporting requirements while gaining crucial insight for making strategic business decisions.
About Hyperion
Hyperion is the global leader in Business Performance Management software. More than 9,000 customers including 91 of the Fortune 100 rely on Hyperion software to translate strategies into plans, monitor execution and provide insight to improve financial and operational performance. Hyperion combines the most complete set of interoperable applications with the leading Business Intelligence platform to support and create Business Performance Management solutions. A network of more than 600 partners provides the companys innovative and specialized solutions and services.
Named one of the FORTUNE 100 Best Companies to Work For 2004, Hyperion employs approximately 2,500 people in 20 countries. Distributors represent Hyperion in an additional 25 countries. Headquartered in Sunnyvale, California, Hyperion generated annual revenues of $622 million for the 12 months that ended June 30, 2004. Hyperion is traded under the Nasdaq symbol HYSL. For more information, please visit www. hyperion.com or www.hyperion.com/contactus.