Global Technology Business Intelligence (GBI), a division of JSE Securities Exchange-listed Global Technology, has armed itself with the new version of a product that offers decision-makers a consistent view of information across the enterprise, Hyperion Financial Management 2.0.
The new version of the Hyperion product, for which GBI is the local support and distribution partner, is a Web-based, enterprise-scale financial management and reporting solution with multi-dimensional analysis capabilities.
"It is designed to act as a common repository of financial information, unifying management across the enterprise and ensuring faster decision-making is based on consistent information," says Johan Cloete, CEO of GBI.
Reporting cycles have been improved and are now faster than before, while there is also improved management of bottom line performance, with greater flexibility for companies that need to meet frequently changing financial reporting requirements.
The product is part of a comprehensive suite of financial and business performance management solutions which advance GBI`s strategy to create and deliver business intelligence solutions that enable companies to measure performance and drive enterprise-wide profitability.
Meta Group, the US research and consulting firm, says that by 2003/4, world-class organisations will have trimmed days off of their closing period by embracing aspects of the virtual close, with some moving to a two-day or less close process. Solutions that automate consolidations and quickly provide Web-based, self-service reporting to decision-makers within the enterprise and collaborative partners are critical to this endeavour.
Hyperion Financial Management is designed and optimised to help companies adopt self-service and other new styles of financial services that are required to compete in today`s global economy.
Hyperion Financial Management offers a high degree of packaged financial intelligence, with full support for International Accounting Standards (IAS) and other regional reporting requirements. While providing necessary flexibility to address changing global reporting requirements, the product also provides "smart dimensionality", which supports detailed line-of-business reporting requirements for internal management.
"For example, in a manufacturing environment, `smart` dimensions are defined to help decision-makers understand and proactively manage profitability by product line, customer segment and distribution channel," says Cloete. "By using a single application for both external and internal reporting requirements, companies can streamline the financial consolidation and reporting process, and deliver results more quickly to both internal and external audiences."
New features include:
* Full European statutory reporting - addressing the most complex global requirements.
* Organisation by period and scenario - for easy modelling of acquisitions, divestitures and reorganisations.
* Enhanced security - for improved access control in broad deployments.
* Graphical business rules builder - allowing easy development of complex calculations.
* New Web data entry forms - for improved ease of use.
* Improved process management - to ensure data accuracy prior to consolidation.
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