Rohm and Haas, a producer of specialty chemicals, has implemented Hyperion Financial Management, a web-based program for global collection, financial consolidation and reporting, and Hyperion Analyzer, a web-based interactive analysis and reporting platform, to integrate financial planning and reporting information on a global scale.
The deployment was carried out by Deloitte Consulting with support from Hyperion Consulting Services during a six month project plan.
Rohm and Haas executed the new technology in conjunction with its financial process efficiency initiative. The software will aim to pull data from the company’s SAP system via Hyperion Application Link and deliver it to Hyperion Financial Management to provide information for the company’s actuals as well as its business plan.
Hyperion claims that its product has reduced the cycle time for Rohm and Haas’ preparation of consolidated financial results as well as SEC filings by more than 40%. It also states that it provides improved visibility into data, increased time for analysis, enhanced external reporting and a more efficient solution to meet compliance requirements under Sarbanes-Oxley.
Rich Clayton, vice president of product marketing at Hyperion, said: The capability to collect and consolidate results from its multiple divisions and deliver management information will result in additional insight into performance across the board.
