Johannesburg, 19 Apr 2006
Super Group, the JSE Securities Exchange-listed integrated supply chain management business operating in South Africa and abroad, has purchased Hyperion Financial Management from local Hyperion distributor Intellient for R1.2 million in a move to improve its financial consolidation capabilities.
Previously using Hyperion Enterprise, Super Group plans to complete the implementation of Hyperion Financial Management by March 2006. The software is licensed for 100 users located throughout the company`s local, Zimbabwean and Mauritian operations.
"As a diversified holding company, there are a myriad businesses reporting into us, making financial consolidation a complicated exercise," says Henk Theron, GM of corporate finance at Super Group. "Although Hyperion Enterprise provided us with the tools to perform the necessary financial consolidations and to generate the required annual financial statements, we have outgrown it. Also, the demands now made by legislation and reports such as King II are better addressed with Hyperion Financial Management. This move is a natural progression from one good product to the next."
Super Group will run Hyperion Financial Management against a central SQL Server database, removing the need to duplicate its database for the Mauritian operation. It will be used to improve the standard of the links from trial balances, increase the depth of drill-down capabilities, standardise the ledger throughout the group and cater to inflation accounting.
As a comprehensive, Web-based application, Hyperion Financial Management will also enable Super Group to undertake global reporting and analysis.
"Once the implementation is complete, Super Group`s employees, subsidiaries, branch offices and partners will be able to operate from the same page, with a single, unified view of key financial data," says Marc Scheepbouwer, MD of Intellient.
"The solution will provide Super Group`s financial managers with more time to perform in-depth analyses as they cut days off their closing cycles, while the delivery of multidimensional financial information to line management will support smarter and faster decision-making. Hyperion Financial Management is designed to be easy to use and navigate in a known browser environment, reducing the need for extensive user training at Super Group, and the ability to input text commentary and end-user defined sub ledger details over the Web will help the company ensure the right financial information is submitted timeously."
Employing 7 000 people, Super Group`s primary operating activities include supply chain management, fleet solutions, retail supply chain, African operations and dealerships, altogether forming the company`s two core operating divisions, supply chain and automotive. Its last financial year revenues exceeded R8.3 billion.
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