Coty, the cosmetics and fragrances company, has bought Hyperion`s Strategic Finance to drive advanced business modelling and forecasting across the organisation with fact-based decision-making.
This Hyperion product will effectively model different planning scenarios and impacts on the future valuation of the Coty business.
"Hyperion Strategic Finance provides us with additional abilities to view information from throughout our company, mitigating our risk for important business decisions," says Jim Shiah, senior VP and corporate controller for Coty.
"The software will enable us to analyse and integrate income statement, balance sheet and cash flow impacts of our business decisions. Since we already use Hyperion software for financial consolidation and business reporting, we will have a seamless, integrated process for sophisticated modelling and forecasting with Hyperion Strategic Finance."
Coty reported $1.7 billion in revenue and has more than 7 500 employees in more than 25 countries.
The software can help Coty predict profit numbers under different economic scenarios, and model the impact on cash, treasury funding options and capital structures. With the addition of Strategic Finance to Hyperion`s Financial Management and Hyperion Essbase XTD already in use at the company, Coty has a comprehensive business performance management (BPM) solution, enabling it to meet its long-term goals of driving profitable top-line growth, improving resource efficiency and building a streamlined results-driven enterprise.
Coty will be able to integrate business rules and financial data between Hyperion Financial Management and Hyperion Strategic Finance, allowing users to create integrated financial models based on real-time data.
"Instead of spending time writing and checking formulas to create reports and forecasts, managers using Hyperion Strategic Finance can iterate economic scenarios and link those scenarios to dynamic financial models," says Marc Scheepbouwer, CEO of GBI.
"It is ultimately the difference between producing basic rolling forecasts and leveraging data to drive performance."
GBI is the business intelligence subsidiary of JSE-listed Global Technology.
Share
Editorial contacts