NOTA DE PRENSA EN INGLÉS
SUNNYVALE, Calif., March 29– Hyperion, the global leader in Business Performance Management software, today announced that the University of Vermont has chosen Hyperion software to support its growth initiatives. Using Business Performance Management solutions for consolidation, planning, forecasting and modeling activities, the university expects to better understand how its growth plans will ultimately impact finances.
Overlooking the shores of Lake Champlain, the University of Vermont combines the faculty-student relationships commonly found in a small liberal arts college with the resources of a major research university. With nearly $120 million in annual grant funding, the university ranks in the top 120 of 900 colleges and universities surveyed for federal support of research and development. Its growth initiative includes new graduate research programs and facilities. According to Mike Gower, vice president for finance and administration at the university, identifying a system that would provide improved financial analysis capabilities was one of his primary tasks upon joining the staff last fall.
«In order to achieve the university’s growth objectives, we need to better understand our financial position,» explained Gower. «To do that, we must have sophisticated financial management tools for planning and analysis, as well as a consolidation solution that would move us away from the inefficiency and complexity of spreadsheets.»
A previous Hyperion customer, Gower chose Hyperion Financial Management software to help consolidate the ledgers of the university’s multiple colleges and approximately 100 departments, and also for financial modeling. Hyperion Strategic Finance software will be used to forecast and plan the university’s balance sheet, income statement and cash flow, including debt forecasting. In addition, the university plans to implement Hyperion Performance Scorecard to help assess progress against its strategic objectives.
Hyperion’s Web-based and scalable software will initially be used by the finance department and will later be expanded for use in operations. Its deployment is an important step in the university’s path to growth, according to Gower.
«Hyperion software should help us see how our growth initiatives will really impact us in the long term, and will also help us determine how to best deploy our resources to make our plans become a reality,» he said.
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