Billabong to hasten Fast Close and improve data quality with Hyperion   4th December 2006 Billabong International Limited is to use the Hyperion System 9 financial management solution to automate the boardsports giant's financial reporting processes. An Australian Stock Exchange listed company with operations worldwide and a market capitalization of approximately US $2.5 billion, Billabong International expects Hyperion System 9 software will help the company realise significant time savings during every close and reporting cycle. Billabong is a leader in the marketing, distribution and sale of boardsport apparel, accessories, footwear, eyewear, wetsuits and hard goods. The company's product brands include Billabong, Element, Von Zipper, Honolua Surf Company, Kustom, Palmers Surf and Nixon. The company selected Hyperion System 9 Financial Management for global collection reporting and analysis solutions, and because Hyperion System 9 Financial Data Quality Management offered a streamlined way to validate the data on which Billabong builds its financial reports and compliance documentation. “By transforming our existing consolidation reporting process into one that leverages the Web-based Hyperion Financial Management, we estimate we'll realize significant time savings,” said Craig White, Chief Financial Officer of Billabong International Limited. “At the same time, we'll improve the integrity of our reporting and compliance data with Hyperion Financial Data Quality Management, which in turn helps us manage internal control risks as we continue to grow.” Working directly with Hyperion, Billabong expects to complete the consolidation phase of its worldwide Hyperion implementation by mid 2007, with full compliance capabilities up and running later next year. Related FSN articles FSN White Paper “The Impact of the newly emerging field of Financial Data Quality Management (FDQM) on Group Reporting and Performance Management Processes.”
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