Toyota Financial Services, the global financial services arm of automotive giant Toyota, has announced that it is standardising its financial consolidation and business analysis processes on Hyperion`s business performance management (BPM) solution.
Toyota Financial Services is using Hyperion`s Web-architected applications to analyse the business performance of its financial services operations and to consolidate financial information from Toyota`s global financial services network.
Through Hyperion`s BPM solutions, Toyota Financial Services analysts expect significantly to reduce the analysis and reporting cycle, allowing it to respond far quicker to its customer needs, economic conditions and product demands.
Hyperion products are distributed exclusively in SA by GBI, the business intelligence division of JSE Securities Exchange-listed Global Technology.
Bob Dowe, VP of sales finance group of Toyota Financial Services, says: "The global automotive market has become very mature over the last few years, which has led to greatly increased competition for vehicle sales and related financial services. It is vital for Toyota Financial Services that we have the systems in place to help us optimise our business performance, and that requires accurate analysis and rapid consolidation and reporting. Hyperion has proven its ability to deliver that to us."
Dowe adds that the main focus of the BPM environment at Toyota Financial Services is to improve business processes and identify opportunities to enhance revenue, lower costs or gain a competitive advantage. Hyperion`s solution provides Toyota management with an enabling technology for accurate planning, analysis and reporting of the performance of the financial services group companies. This will allow Toyota Financial Services to become increasingly responsive to market opportunities and more competitive in respect of the financial service offerings from other automotive manufacturers and other financial service companies.
Toyota Financial Services chose the Hyperion solution for its speed of operation, and for the ease of maintenance and deployment afforded by its Web-based architecture, which the company will use to help drive accountability throughout the organisation by strengthening the links between performance measures and rewards.
The initial phase of Toyota Financial Services` implementation is based on Hyperion Essbase XTD for BPM in 18 countries, with plans to expand to a further eight or more in the near to mid-term. Hyperion Enterprise is used for financial consolidation at Toyota Financial Services headquarters in Nagoya, Japan.
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