Sunnyvale, CA December 16, 2002 Software providers Hyperion and Emagia today announced a strategic alliance for Emagia to offer Hyperion's Essbase solution as an integrated part of its Collaborative Finance Suite.
Emagia provides e-business solutions for cash flow optimization that are intended to streamline and automate cash inflow and outflow processes for midsize to large enterprises, while Hyperion offers business analytics solutions.
Through integration of the Emagia and Hyperion solutions, users will be able to identify collections bottlenecks and take action to improve cash flow, according to the two providers. The partners said the integrated software offering by Emagia would provide users with increased levels of analysis and insight in order to optimize working capital and business performance.
For Emagia users, Essbase will provide new analytic capabilities for identifying key performance indicators such as propensity toward late payments and level of credit risk. In conjunction with the Emagia solution, the Hyperion technology will give users personalized, ad hoc analysis they can use to make decisions affecting collections and enterprise cash flow management.
"By adding new analytic capabilities to the Emagia Collaborative Finance Suite, Hyperion will arm financial management teams with greater insight and increased efficiency of collectors," the software companies said in a statement.
Frank Buytendijk, a research director with technology consultancy Gartner, said that cash flow management plays an important role in corporate performance management and can help drive certain costs down. "In today's economic environment, corporate performance management has a strong relation to financial matters," Buytendijk said.
John Pierson, vice president of channel sales for Hyperion, suggested that his company's own experience using the Emagia applications and Essbase has shown that effective cash flow management is a critical element in improving business performance.
The combined solution is available as part of Emagia Collaborative Finance Suite 3.0, with Emagia providing level one and two customer support. The two companies said they would also conduct joint marketing and joint sales activities as part of the new relationship.