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Hyperion
announced that ArthroCare Corporation has achieved improved
management processes and increased accountability throughout
the company using Hyperion's Business Performance
Management Solutions. ArthroCare -- a $100 million
maker of minimally invasive surgical products, already used
in approximately two million surgical procedures worldwide
-- is one of the 25 fastest growing technology companies,
according to Forbes magazine, and one of Fortune's 100
fastest growing small companies in America.
ArthroCare is implementing Hyperion products to give
managers in finance, sales and marketing a common set of
information on a timely basis. Hyperion Business Performance
Management software gives ArthroCare's business unit
managers rapid visibility into performance measures by
product, region or salesperson, as well as key financial
measures, such as sales growth, operating margins, gross
margins and distribution expenses. In addition, ArthroCare
can track operational measures, such as manufacturing trends
by unit or per-person productivity.
"Hyperion software enables successful management as the
company grows," said Fernando Sanchez, senior vice president
and CFO for ArthroCare. "At the rate we're growing, we could
get out of control very quickly without Hyperion helping us
understand where we are and where we are going. When things
are out of control, there can be no accountability. Without
accountability, you can't achieve your stated goals. With
Hyperion's solutions, we are able to drill down and see
what's going on, so we can ask the right person the right
questions to determine the best course of action."
As a company growing approximately 20 percent per year,
ArthroCare found that it could easily become like a person
who wears two watches, never knowing exactly what time it
is. Prior to bringing in Hyperion, ArthroCare kept track of
finances and operations with spreadsheets authored by many
managers across the company, as is common among companies of
its size. However, reconciling conflicting versions of "what
time it is" became increasingly time consuming and costly.
With Hyperion solutions, business unit managers can link to
daily updates to track their units' performance and make
adjustments as necessary. Monthly financial closes happen
faster, and the information is crisper and more consistent
from the start.
"It's hard for people at companies as dynamic as ArthroCare
to stay on top of all the details while keeping a
perspective on the broad strokes within the organization,"
said Nazhin Zarghamee, chief marketing officer for Hyperion.
"We help everyone stay on the same page and moving in the
same direction by providing high-level insight and
visibility into the details in one system."
"Before, we were making decisions based on anecdotal ideas
of where growth was coming from," said Sanchez. "For us,
Business Performance Management is about solid numbers every
day and achievement toward stated objectives -- in our case,
sales growth."
Source: Hyperion Solutions Corporation
Aug. 27, 2003
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