Grintek streamlines financial processes in R3.5m Hyperion deal with Intellient

In a deal worth more than R3.5 million, Grintek, the empowerment technology group, has bought Hyperion Financial Management, Hyperion Planning and Hyperion Analyser. The software, supplied and to be implemented by Intellient will be used to add value to Grintek`s consolidation, budgeting and reporting processes.

Grintek will use the Hyperion solutions to undertake the required group consolidations of monthly management accounts and annual financial statement reporting and budgeting.

"Corporate accountability begins with availability of relevant financial data which must be accurate, value adding and timely," says Johan Seymore, group executive: finance at Grintek. "They help businesses anticipate change, measure performance and drive growth and profitability. We are introducing the three Hyperion solutions into our organisation as we have prioritised the need to fulfil these particular requirements."

Phase one of the implementation, which is due to be completed in February 2006, will address Grintek`s requirements around financial consolidation and reporting, and operational and financial planning. Phase two will tackle the company`s broader needs for business intelligence and the delivery of management information to all levels of decision-makers across the organisation.

Hyperion Financial Management is a comprehensive, Web-based application that delivers global collection, financial consolidation, reporting and analysis capabilities. It will provide Grintek with a single, unified view of its key financial data at any point and enable the group to generate consolidated results.

"The stringent regulations that govern business today require centralised financial consolidation, reporting and analysis systems which ensure that management truly understands how operations impact the bottom line so that the best decisions are made to drive growth," says Marc Scheepbouwer, MD of Intellient, a member of the EOH group of companies. "Hyperion Financial Management will assist Grintek to reduce its close cycle and comply with reporting regulations and requirements. It will ensure scalability, collaboration and transparency."

Hyperion Planning is a Web-based planning, budgeting and forecasting solution that will support collaborative planning across all areas of Grintek`s business. This planning tool will enable Grintek to centrally manage and collaborate every step of its planning process and communicate targets to all decision-makers via the Internet and intranet.

"The software will enable Grintek`s decision-makers to create, own and communicate detailed plans, calculations and assumptions across the business," Seymore says. "In so doing, we can reduce planning cycles, boost analysis capabilities, enhance predictability and maximise resource allocation."

Hyperion Analyser will enable Grintek to deploy highly graphical, interactive analytic applications for management reporting, product profitability analysis, performance management, forecasting, scorecarding and promotional effectiveness.

"Hyperion Analyser empowers users to access their data from various data sources and to build customised reports that present meaningful information," Scheepbouwer says. "The three Hyperion solutions bought by Grintek will enable the smooth running of its extremely complex financial environment."