Solution Distills Financial Consolidations, Reporting, Analysis and Modeling
Into a Single Web-Based System for Leading Wine and Spirit Distributor
SUNNYVALE, Calif., Jan. 27 /PRNewswire-FirstCall/ -- Hyperion
(Nasdaq: HYSL) today announced that Maxxium Worldwide, a global marketing and
distribution partnership between four leading wine and spirits producers, uses
Hyperion Business Performance Management software to consolidate financial
information from all the partners and merge commercial and financial
reporting, analysis, modeling and planning into a single, scalable Web-based
solution. The company is generating more detailed reports in significantly
less time, with 24 x 7 accessibility worldwide. Hyperion Financial Management
is at the core of a financial consolidation and reporting system that is
driving a more robust and effective distribution network.
Maxxium Worldwide is a distribution and marketing partnership that formed
in 1999 between four leading producers -- Highland Distillers (Scotland), Jim
Beam Brands (USA), Remy-Cointreau (France), and Vin & Spirit AB (Sweden). The
companies came together to further extend their products' reach in the global
market. However, each partner was operating according to its own national
standards and using different legacy information systems. Maxxium chose
Hyperion's software to bring the information together in a unified,
application with standardized reporting procedures and tools across the
enterprise, resulting in a comprehensive financial management system that
could accommodate vast amounts of information.
"We have been able to unify our commercial and financial reporting,
analysis, modeling, and planning in a single Web-based application that we can
continue to extend as we grow," said Brian Mackie, chief financial officer for
Maxxium Worldwide. "The full Web-reporting capability eliminates local input
sites, which drastically reduces maintenance and increases flexibility so that
we can address business issues."
"The year-end consolidation is very fast since we moved to Hyperion
Financial Management," said Eelco Spiker, brand consolidation manager for
Maxxium Worldwide. "It only takes 20 minutes to consolidate 250,000 records,
and it's easy to work with large sets of data. Before, our remote sites were
sending files to headquarters. Now, they are inputting data into the database
and producing reports themselves. There is improved collaboration among the
sites and greater efficiency."
Hyperion's software has enabled Maxxium to develop more complex
calculations to forecast results, and can also create business models and
what-if scenarios, importing and examining six months of historical data used
to predict future results.
With Hyperion Financial Management, Maxxium has confirmed that it is
already able to generate reports to comply with the upcoming 2005 IFRS
(International Financial Reporting Standards -- formerly known as the
International Accounting Standards) requirements. The solution has brought
consolidations into one appropriate chart of accounts at the headquarters
level.
"Maxxium has found that when you can evaluate concrete metrics such as
revenue, profits and marketing data with comprehensive, detailed and accurate
financial reporting, you can better manage your organization," said
Rich Clayton, vice president of product marketing for Hyperion. "In addition
to generating reports for legal and regulatory compliance, Hyperion software
facilitates delivery of insightful financial and performance analysis to
support the strategic and operational management decisions that are
particularly complex in a partnership."
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
company's innovative and specialized solutions and services.
Named one of the FORTUNE 100 Best Companies to Work For 2004, Hyperion
employs approximately 2,600 people in 20 countries. Distributors represent
Hyperion in an additional 25 countries. Headquartered in Sunnyvale,
California, Hyperion -- together with recently acquired Brio Software Inc.
-- generated combined annual revenues of $612 million for the 12 months ending
June 30, 2003. Hyperion is traded under the Nasdaq symbol HYSL. For more
information, please visit www. hyperion.com, http://www.hyperion.com/contactus or
call 800-286-8000 (U.S. only).
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 13, 2003 and the
Report on From 10-Q filed on November 7, 2003. The company does not undertake
an obligation to update its forward-looking statements to reflect future
events or circumstances.
NOTE: Hyperion is a registered trademark of Hyperion Solutions
Corporation. All other trademarks and company names mentioned are the
property of their respective owners.
SOURCE Hyperion Solutions Corporation
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Related links:
http://www.hyperion.com
CONTACT:
Media, Phyllis Davidson of Hyperion,
+1-408-220-8754, or phyllis_davidson@Hyperion.com
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