Murray & Roberts streamlines financial consolidation in R5m deal with GBI

Murray & Roberts has invested R5 million in a financial solution that will consolidate its financial information and integrate the data it requires for complex reporting purposes.

The new solution, comprising Hyperion Financial Management, Hyperion Reports and Hyperion Essbase XTD Analysis Studio, is set to improve the group`s management of its business by enabling the anticipation of results and streamlining its profitability drive.

Hyperion is supplied locally by Global Technology Business Intelligence (GBI), the business intelligence subsidiary of JSE Securities Exchange-listed Global Technology.

Johan Botha, group accountant at Murray & Roberts, says the group needed a financial system to replace its accounting consolidation software, Clime, which it had been running for more than six years. "Clime was not only outdated, it was also becoming increasingly difficult to find local support. In addition, it was no longer able to give us the data we need for our reporting requirements.

We initially investigated a total of 10 offerings. We narrowed this down to three and eventually decided on Hyperion as a result of its consolidation abilities and the level of support provided locally by GBI."

Alwin Swales, marketing and sales director for GBI, says GBI was able to provide Murray & Roberts with more than just a financial management system.

"Companies today are after applications that will actually help them manage their businesses, rather than simply integrate their data. In Murray & Roberts` case, the company has to adhere to the reporting requirements of the JSE, and to the common set of accounting principles, standards and procedures set down by GAAP (Generally Accepted Accounting Principles). The Hyperion solution will enable the company to manage business performance and to forecast results more accurately."

Hyperion Financial Management, a comprehensive, Web-based application, will provide Murray & Roberts with data collection, financial consolidation, reporting and analysis in a single solution, while Hyperion Essbase XTD Analysis Studio will enable the company to conduct interactive analysis and deliver corporate information assets to diverse user communities across the group.

One of the main benefits of the new solution will be its ability to integrate into the accounting systems of Murray & Roberts` diverse building, industry and mining, manufacturing and steel operating entities, a feature not offered by its previous system.

The Hyperion solution will run on an IBM platform. Implementation has begun, and phase one is on track to go live before mid-year. This first phase will be aimed directly at addressing the group`s current reporting requirements in terms of its existing solution, and will also provide the company with a sound financial cornerstone to which it can add additional functionality as required. There will initially be 20 users, but this number is expected to grow to several hundred. Phase two will involve providing an extended link from Hyperion into various accounting systems across the group, and will also include the roll-out of Hyperion Essbase XTD Analysis Studio.