BrightPoint acknowledged that it was able to enhance and streamline its financial close and reporting processes with Oracle (News - Alert) Hyperion.
Brightpoint is a provider of device lifecycle services to the wireless industry and Oracle Hyperion enabled it to cater to the regulatory requirements demanded by the United States Securities and Exchange Commission's (SEC (News - Alert)) eXtensible Business Reporting Language (XBRL) mandate.
BrightPoint has over 4,000 full-time employees and a global footprint across more than 35 countries. It uses Oracle Hyperion Planning for financial planning, budgeting and forecasting and the Oracle Hyperion Financial Management for financial consolidation, reporting and analysis.
The Oracle Hyperion Planning is a centralized, Excel and Web-based planning, budgeting and forecasting solution that integrates financial and operational planning processes and improves business predictability and the Oracle Hyperion Financial Management is a comprehensive, Web-based application that delivers global financial consolidation, reporting and analysis in a single, highly scalable software solution.
The Oracle Hyperion Disclosure Management enables BrightPoint to centralize and effectively manage the development of XBRL tagged submissions now required by many regulatory bodies – an ability that also lets BrightPoint to set changes in its filings process even at the last minute.
Oracle claimed that its Oracle Hyperion performance management applications provide a more effective solution by integrating strategy, planning, and execution into a seamless process and they are a modular suite of integrated applications that integrate with both Oracle and non-Oracle transactional systems.
Officials with BrightPoint claimed that delivering timely, accurate financial results is key to the success of their global business. With the SEC XBRL mandate, their financial reporting process became more complicated.
By extending their investment in Oracle Hyperion, and adding Oracle Hyperion Disclosure Management, they have absolute control over their complex quarterly filing process. The latest release of Oracle Hyperion Disclosure Management is helping them to save time and streamline the XBRL filing process quarter after quarter.
Edited by Jennifer Russell