Hyperion Investment in Approva
|
VIENNA, Va.--(BUSINESS WIRE)--June 6, 2005--Approva Corporation, the leader in enterprise controls management software, today announced that Hyperion Solutions (Nasdaq:HYSL), the global leader in Business Performance Management, has joined Approva's Series C venture capital financing. Approva is defining how businesses can best manage their internal controls through business exception management. Hyperion's investment will help drive the rapid growth of Approva's unique cross-platform, application independent software solution in the enterprise controls software marketplace. "Approva has set the standard for scalable, cross-platform solutions that automate ongoing compliance activities, and that add real business value by improving business efficiency throughout the enterprise," said Bill Gaylord, Hyperion's vice president of corporate development. "A company's ability to quickly identify anomalies in their transaction systems will be critical to quantifying risk and sustaining compliance. By tying this information with the financial consolidation process, our customers will have greater confidence in the veracity of their results as well as visibility to their compliance controls. Hyperion is excited that Approva is extending its solution to Hyperion Financial Management, the leading financial reporting application."Approva's BizRights software is the first to continuously analyze users, configurations and transactions and proactively identify critical business exceptions. BizRights is the industry's only software solution that provides customers with a comprehensive view into both compliance and efficiency issues. By automating the testing and monitoring of internal controls and business processes across multiple financial systems, Approva customers reduce the cost of Sarbanes-Oxley compliance, improve the quality of their audits and enhance their operational efficiencies. "Every day, more companies are seeking cross-platform, business-intelligence driven solutions to meet compliance requirements and drive continuous improvement in a dynamic and highly complex business environment," said Prashanth (PV) Boccasam, CEO of Approva. "As a Hyperion Technology Partner, and by working closely with Hyperion, the gold standard in cross-platform business performance management, Approva is helping customers improve their financial processes by combining a sustainable compliance framework with unique identification of business efficiency issues." About Approva Corporation Approva Corporation enables large organizations to transform compliance efforts into competitive advantage. By offering unique, continuous and actionable insight into business processes, Approva software provides sustainable compliance and delivers improved control, increased profit and enhanced shareholder confidence. The patent-pending Approva BizRights(R) platform is the first product to allow all corporate compliance stakeholders - including business managers, auditors, and information technology specialists - to collaboratively manage controls and optimize related processes. BizRights provides continuous, independent visibility into ERP activity, producing business-friendly reports that both business and IT managers can act upon. The software correlates user, transaction and system setting data against pre-defined and configurable rules to proactively pinpoint control violations and business exceptions. Valuable risk analysis ranks the impact of potential violations for improved prioritization. With BizRights, companies can resolve issues faster, prevent new control conflicts and create complete audit trails for change management. Global brands such as Colgate-Palmolive, Wrigley, Pratt & Whitney and others are reducing the cost of compliance, minimizing business risk and increasing operational efficiency with Approva solutions. For more information visit us at www.approva.net
|
Related Articles
Similar Areas Mergers and Acquisitions Items Selected Books Keywords business performance management
|