Latest version of its Performance Scorecard application offers tighter integration with dashboard applications.
LAS VEGASHyperion Solutions Corp. introduced the latest version of its Performance Scorecard application at its Solutions user conference here Monday, offering tighter integration with dashboard applications.
Hyperion also showcased its Hyperion Financial Management application, the centerpiece of the Sunnyvale, Calif., companys Sarbanes-Oxley compliance strategy, and threw its support behind the Extensible Business Reporting Language (XBRL) specification.
The latest version of Hyperion Performance Scorecard, the third generation of the balanced scorecard product, provides tighter integration with dashboards to bring operational performance monitoring and scorecarding together in a single view.
There is support for personal and cascading scorecards used by individual departments and employees to align their actions with the overall corporate business strategy; the ability for users to enter notes or comments on measures; scorecards and strategy elements for feedback purposes; tighter integration with Hyperions Essbase XTD platform for reporting, analysis, modeling and planning; improved navigation and workflow; and a customizable user interface.
Hyperion also announced the availability of Hyperion Financial Management, providing pre-packaged features for Sarbanes-Oxley Act compliance, including support for disclosure control processes and allowing CEOs, CFOs and other executives to view all submissions in detail before signing off on them.
Hyperion Financial Management supports U.S. GAAP, International Accounting Standards, local statutory requirements for financial consolidation and reporting, and U.S. Auditing Standards. Company officials said the product shortens the reporting process thanks to a collaborative approach that ensures information is reviewed prior to submissions; it also adds dimensions for profitability and external reporting, reducing the need for additional reporting systems and reconciliation procedures.
Hyperion also announced Monday plans to make the new XBRL Web-based specification a key feature of its financial reporting and compliance solutions once the next version of the standard is finalized. Officials said XBRL will improve the accuracy and speed of financial reporting in Hyperion Financial Management by providing more automated financial reporting and filing capabilities than presently available.
XBRL enables interoperability of data between different applications, entities and systems, improving communications and the quality of reported data, Hyperion officials said.
Hyperion has participated in the XBRL Consortium and XBRL International for more than three years and expects to be a key industry player in creating products and solutions that utilize the reporting language, officials said.
"Were committed to XBRL as a key ingredient in our compliance strategy and believe wide adoption of this industry standard will be a huge advantage for customers grappling with compliance and reporting issues to external stakeholders," said Hyperion Chief Technology Officer John Kopcke in a statement.
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