SUNNYVALE, Calif., Aug. 21, 2003 — Cinergy Corp. has selected the Hyperion Business Performance Management Suite to help strategically align the company to meet its goals. Cinergy expects the software to provide increased transparency into financial and operational information and the advanced analytics to drive performance across the enterprise.
Cinergy, which serves 1.5 million electric customers and more than 500,000 gas customers, selected Hyperion’s Business Performance Management Suite as an integrated solution to provide reporting, analysis, financial consolidation, budgeting, planning, forecasting and performance scorecarding. The software, to be implemented by IBM Business Consulting Services, should help Cinergy continuously improve its performance, while optimizing the planning process.
“The Hyperion Business Performance Management Suite is an enabling technology that should help us streamline financial systems and processes,” said Felicia Ferguson, vice president special projects for Cinergy. “Hyperion should enable our employees to spend more time analyzing versus gathering information. This software should give us speed of reporting, additional confidence in our data, as well as increased information transparency.”
Morris Treadway, the IBM Business Consulting Services engagement partner at Cinergy, observes that Cinergy will be well-positioned to measure and analyze important information at new levels of efficiency and accuracy, leading to better decision-making across the enterprise.
“Our goal with Hyperion is to help Cinergy strategically align its business drivers and measures of business performance with simplified and integrated management processes so that important decisions can be made with renewed clarity and confidence,” he said.
Nazhin Zarghamee, chief marketing officer for Hyperion, said the comprehensive software suite will help Cinergy translate strategies into plans, monitor execution and drive operational and financial performance across the company.
“Hyperion Business Performance Management communicates and reinforces corporate strategy across the organization,” she said. “The software will give Cinergy employees constant access to updated information, performance measures and data so every employee can contribute to Cinergy’s success.”
Hyperion is a provider of Business Performance Management software that enables companies to translate strategies into plans, monitor execution and provide insight to improve financial and operational performance. More than 6,000 customers worldwide use Hyperion’s Business Performance Management family of packaged and tailored applications and its leading business intelligence platform. Hyperion has a network of more than 330 partners to provide innovative and specialized Business Performance Management solutions and services.
Headquartered in Sunnyvale, California, Hyperion generated annual revenues of $510 million in fiscal 2003. The company employs more than 2,100 people in 20 countries and is represented in 16 additional countries through distributor relationships. Hyperion is traded under the Nasdaq symbol HYSL. For more information, please visit www.hyperion.com, www.hyperion.com/contactus or call 800-286-8000 (U.S. only).