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Mentor Graphics Deploys Enterprise-wide Financial Planning and Forecasting Solutions Using Alphablox's InLine Analytics Platform
Planning Solution Automates Process and Reduces Cycle by Three
Full Months
CHICAGO—(BUSINESS WIRE)—April 26, 2004—
Alphablox(R) Corporation, the leading provider of InLine
Analytics(TM) for enterprise solutions, today announced that Mentor
Graphics(R) Corporation (Nasdaq:MENT) has deployed enterprise-wide
financial planning and forecasting solutions using Alphablox's InLine
Analytics platform.
"The automated financial planning solution we built with
Alphablox's analytics platform has alleviated many of our workflow
challenges and has reduced our financial planning process by a full
three months," said Tony Adrian, vice president, corporate controller,
Mentor Graphics. "We now have more in-depth budgets ready within a
week after the beginning of the new fiscal year. With over 1200
separate cost centers, our ROI is tremendous. We rolled out the
planning solution first, and given its success, we have integrated the
forecasting function with planning. Beyond these applications, we
intend to use Alphablox's analytics platform for further financial
applications."
The planning solution draws a combination of actual and forecasted
information from the forecasting solution, then automatically gathers
detail on key expense drivers for each of the worldwide cost centers.
The solution then applies new planning assumptions, allows proposed
spending on new initiatives, circulates the budget for approvals, and
consolidates the detail into the final enterprise-wide budget. This
enables cost center managers and financial planners to develop
detailed budgets backed by "what if" scenarios. Final budgets are
deployed to each cost center with only the details pertinent to the
cost center visible. The forecasting solution interoperates with the
planning solution, incorporating changes to the key expense drivers to
build a detailed forecast.
The financial planning solution has instituted a level of
consistency in the Mentor Graphics worldwide budget planning process
including standardization of benefits across all cost centers with
consistent planning of royalties and commissions between regions. The
solution enables manipulation of costs such as headcount and asset
acquisition, and forces mutual consent for cross charges between cost
centers. Now in production, this solution has over 150 users in 60
Mentor Graphics offices around the world. Recently released into
production, the forecasting solution has already successfully
completed two quarterly roll-ups.
"We selected the Alphablox platform because of its easy-to-use
interface and its superior performance on other applications we've
deployed," said Jan-Willem Beldman, the senior decision support
architect for the Mentor Graphics IT Decision Support Group. "We could
see that the platform had the flexibility and ease of personalization
needed to handle our design and performance challenges, and that it
would integrate well with our existing Essbase, SAP, and Oracle
information."
"The return on investment that Mentor Graphics has realized on
this financial planning solution exemplifies the value of integrating
business analytics in line with business processes," said Joe
Guglielmi, CEO of Alphablox. "Our InLine Analytics platform enables
companies like Mentor Graphics to increase efficiency and optimize
business performance, delivering relevant business insights to the
right people at critical decision points."
Building on its strategy to connect with the broadest possible
array of data sources, Alphablox recently announced support for
Hyperion Essbase 7, and is extending support for Hyperion's Essbase
platform. The integration of Hyperion Essbase functionality with
Alphablox Analytics provides companies such as Mentor Graphics with
unique capabilities and unparalleled analytic depth to help them
integrate analytics into their business processes and optimize their
business performance.
About Mentor Graphics
Mentor Graphics Corporation (Nasdaq:MENT) is a world leader in
electronic hardware and software design solutions, providing products,
consulting services and award-winning support for the world's most
successful electronics and semiconductor companies. Established in
1981, the company reported revenues over the last 12 months of about
$675 million and employs over 3,700 people worldwide. Corporate
headquarters are located at 8005 S.W. Boeckman Road, Wilsonville,
Oregon 97070-7777; Silicon Valley headquarters are located at 1001
Ridder Park Drive, San Jose, California 95131-2314. World Wide Web
site: www.mentor.com.
About Alphablox
Alphablox Corporation provides the leading InLine Analytics
platform enabling Global 2000 corporations to develop and deploy
real-time analytic solutions for optimizing business performance.
Combining best-in-the-industry professional services with
award-winning analytics technology, Alphablox's solutions integrate
seamlessly into existing business processes and enterprise
infrastructures, empowering front-line business people with
personalized analytic applications to drive targeted business
objectives. Market leaders in financial services, telecommunications,
manufacturing, and retail such as ABN Amro, Deutsche Bank, Blue Cross
Blue Shield, Mentor Graphics, Neiman Marcus, Seagate, and Toys R Us,
rely on Alphablox's powerful analytic solutions. The company has
financial backing from leading investment firms, including Accel
Partners, Mohr, Davidow Ventures, Integral Capital Partners, and
Deutsche Bank among others. Founded in 1996, Alphablox is
headquartered in Mountain View, California, and has offices and
distributors throughout the United States, United Kingdom, Australia,
and Asia. For additional information on Alphablox and its solutions
call 888-256-9669 or visit the company's Web site at
www.alphablox.com.
Alphablox, the Alphablox logo, SpreadsheetBlox, ReportBlox,
Alphablox Alerts and InLine Analytics are the trademarks or registered
trademarks of Alphablox Corporation.
Contact:
Alphablox Corporation
Bethany Weiss, 415-928-1796
bweiss@alphablox.com
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