Johannesburg, 14 Jun 2006
Hyperion, distributed locally by Intellient, has completed the acquisition of privately held UpStream Software, thereby becoming a major provider of packaged solutions for financial data quality management.
The acquisition extends Hyperion`s business performance management and business intelligence offerings with data readiness and guided workflow solutions for tracking the movement of financial information.
"Combined, the solutions enable customers to generate trustworthy financial data, improve visibility of financial data management processes, save time in critical financial processes and lower the overall cost of compliance," says Marc Scheepbouwer, MD of Intellient.
"The lack of confidence in financial data is a problem that can paralyse an organisation. The addition of UpStream`s technology to the Hyperion business performance management portfolio provides customers with a robust financial data quality solution to reduce business risk and meet compliance and performance management needs."
UpStream, named to the Inc 500 list of fastest growing private companies in America, is a long-time preferred partner of Hyperion. The two companies have a successful record of working together to deliver joint solutions that enable financial data quality, including data collection and transformation, internal control, repeatable financial processes and audit trails back to source systems.
Financial data quality management is a key component of the overall data quality market, estimated by Forrester Research to be a $407 million market in 2006, with a predicted 17% compound annual growth rate.
Data quality is part of the broader data management category, which includes related technologies such as data modelling, data movement, data security and master data management.
"Faced with broadening compliance requirements and spiralling audit fees, finance and IT managers are grappling with the triple threat of shorter filing deadlines, diverse data sources and inefficient financial data management processes," Scheepbouwer continues. "With a lack of confidence in financial data leading to increased business risk, solving the financial data quality problem is a top priority."
Hyperion customers such as Honeywell, ITT Industries, Primedia and Unisys have turned to UpStream to provide technology to solve financial data quality problems.
Share