Improving performance measurement is a strategic imperative for us," said Charles Longua, vice president, Corporate Financial Planning and Analysis at ERIE. "We wanted a complete package for enterprise performance measurement that would support our budgeting, planning and reporting processes. That's why we selected the integrated suite of products in Hyperion System 9."
ERIE selected Hyperion System 9 with its centralized, Web-based financial planning, budgeting and forecasting solution, to track and monitor its plans and forecasts and replace its spreadsheet systems. The solution will be used to plan revenue, operating expenses, workforce management and financial reporting.
The company's Hyperion System 9 solution makes it possible for ERIE's users to access data locked in transactional systems and leverages information from existing data stores to deliver multiple levels of viewing and analysis in a single report. The company will use the solution for financial reports that include details on revenue, expenses and staffing with information from income statements and balance sheets.
ERIE is planning to use the Performance Scorecard tool with Hyperion System 9 to more closely engage its employees and help them understand its direction, its measures and how each position within the company contributes to its success. The solution will enable ERIE employees to monitor key performance indicators, improving operational efficiency by increasing collaboration and accountability.
About Hyperion
Hyperion Solutions Corporation is the global leader in Business Performance Management software. More than 11,000 customers rely on Hyperion software to provide visibility into how their businesses are performing and to help them plan and model to improve that performance. Using Hyperion software, customers collect data, organize and analyze it, then communicate it across the enterprise. Hyperion offers the industry's only Business Performance Management solution that integrates financial management applications with a business intelligence platform into a single system.
Named one of the FORTUNE 100 Best Companies to Work For (2004), Hyperion serves global customers in 45 countries. A network of more than 600 partners provides the company's innovative and specialized solutions and services. Hyperion generated revenues of $703 million for the fiscal year that ended June 30, 2005 and is traded under the Nasdaq symbol HYSL. For more information, please visit www.hyperion.com.
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Statements in this press release other than statements of historical fact are forward-looking statements, including, but not limited to, statements concerning the potential success of anticipated product features, the anticipated product offerings and the potential market opportunities for business performance management software. Such statements constitute anticipated outcomes and do not assure results. Actual results may differ materially from those anticipated by the forward-looking statements due to a variety of factors, including, but not limited to the company's ability to retain and attract key employees, the successful and timely development of new products, the impact of competitive products and pricing, customer demand, and technological shifts. For a more detailed discussion of factors that could affect the company's performance and cause actual results to differ materially from those anticipated in the forward-looking statements, interested parties should review the company's filings with the Securities and Exchange Commission, including the Report on Form 10-K filed on August 31, 2005 and the report on Form 10-Q filed on February 8, 2006. The company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
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