SOURCE: Star Analytics

August 13, 2009 10:26 ET

Star Analytics Earns Industry Praise for New Version of the Star Finance Command Center

Helping CFO's Office Do More With Less by Making Finance Systems Easier to Manage, Integrate and Use

SAN MATEO, CA--(Marketwire - August 13, 2009) -


News Summary:

-- Eliminates costly manual efforts to integrate financial and operational data and execute financial processes across multi-vendor finance applications and business intelligence tools

-- Tighter integration with Oracle Hyperion Financial Management and Oracle Essbase, plus enhanced security and authentication support

-- Deployed by pharmaceutical, technology, energy and financial services companies and helping them reduce finance system TCO by up to 80%

Star Analytics, Inc., a leading provider of enterprise data integration software for Financial Consolidation, Planning, Budgeting and Analysis, today released the new version of the Star Finance Command Center, the first centrally-controlled, secure enterprise software solution to monitor and automate the workflow of finance systems for non-technical finance users.

The new version extends the Star Financial Management Platform, a software suite that eliminates the manual intervention needed to access and integrate data and processes for reporting and analytical applications in areas such as: Global Cash Management; Incentive Compensation; Expense and Revenue Management; Capital Planning; Performance Management; and International Financial Reporting Standards (IFRS) adoption.

New features in the Star Finance Command Center:

--  Simplifies Oracle Hyperion Financial Management Tasks: Includes a
    library of 16 finance-aware widgets that enable customers to automate
    Oracle Hyperion Financial Management tasks and integrate them with process
    chains across multiple applications.
--  Streamlines lifecycle management for finance systems: Automation
    bundles can be replicated from development to test and production
    environments, reducing error-prone manual operations.
--  Enhances security: Boosts support for external authentication via LDAP
    and Microsoft Active Directory Service, making it easy to integrate secure
    role-based access with corporate security standards.
--  Complex Task Branching: Simplifies error handling, alerts and multiple
    application interaction for complete control and management of complex
    applications.
    

"Enterprise finance departments have made significant investments in maintaining and extending finance systems and BI environments that result from acquisitions and organic growth," said Tom Tortolani, vice president, products at Star Analytics. "The Star Finance Command Center does the heavy lifting to tie these systems and processes together by reducing programming and eliminating manual processes in the chain of financial applications, including Oracle's market-leading consolation application, Oracle Hyperion Financial Management."

Customer Success

Recent customer wins include a large pharmaceutical company that uses the Star Finance Command Center to automate end-to-end application processes around their worldwide Oracle Hyperion Financial Management deployment. A large energy company is also using the Star Financial Management Platform for real-time data integration of their Oracle Essbase environment with their financial data warehouse.

The July/August issue of Information Management features a product review that describes how the Star Finance Command Center is powering the Continuous Planning environment for hundreds of users at a large global technology company. Read the article at http://www.information-management.com/issues/2007_60/star_analytics-10015775-1.html.

Praise from Technology Leaders

"We are pleased that Star Analytics is leveraging Oracle's open application framework with the Star Finance Command Center," said John O'Rourke, vice president of product marketing at Oracle. "This helps makes it easy for Oracle Hyperion Financial Management customers to automate their financial processes across multiple applications and systems."

"The Star Finance Command Center helps Oracle Hyperion Financial Management customers eliminate manual processes and reduce delays that affect the timeliness and accuracy of financial information," said Jane Kozuch, HFM practice lead for Key Performance Ideas. "Allowing business users to view and manage critical finance automation processes is a major breakthrough in driving more value from their finance applications."

"Every one of the implementations we've done of Hyperion and Oracle EPM has a common thread: they all have completely different scheduling tools, wildly disparate scripting languages and totally different versions of automations across the enterprise," said Edward Roske, CEO at interRel Consulting and an ACE Director for Oracle. "Star Finance Command Center gives our customers a low cost, flexible, quick to implement solution to managing their heterogeneous finance environments that doesn't require a bunch of consultants to develop and administer."

"The Star Finance Command Center will greatly improve the ability to integrate HFM with other application processes, greatly increasing our client's ROI," said Peter Fugere, practice director at Ranzal & Associates. "The software strengthens our value proposition to our clients by allowing us to deliver integrated applications that are easier and more cost effective to manage."

About The Star Analytics Financial Management Platform

Built on the Star Finance Command Center and Star Integration Server, the Star Analytics Financial Management Platform automates processes and data integration across multiple financial applications. Some of the largest Oracle Hyperion customers are using the Star Analytics platform to accelerate decisions, speed their financial close process and power continuous planning environments.

To view product videos, visit the Star Analytics website at http://www.staranalytics.com/products/index.htm

About Star Analytics

Star Analytics is the leader in Financial Data Management software, offering enterprises a cost-effective way to integrate and access disparate financial and operational data for business decisions based on profitability. Fortune 1000 companies in all major industries use technology from Star Analytics to improve business analytics and reduce the burden on IT by automating the integration and management of financial processes and data. Partners include Oracle, IBM Cognos, SAP BusinessObjects, QlikTech, and Microsoft. Headquartered in San Mateo, California, Star Analytics is a privately-held company backed by Hummer Winblad Venture Partners and LightSpeed Venture Partners. Visit http://www.staranalytics.com.

Star Analytics is a registered trademark and the Star Analytics logo is a trademark of Star Analytics. All other names mentioned herein may be trademarks of their respective owners. This press release is for informational purposes only and no offer to buy or solicitation of an offer to sell any securities is made hereby. Certain information contained in this news release is forward-looking and is subject to unknown risks and uncertainties. The actual results, performance or achievements of the company may differ materially from the results, performance or achievements of the company expressed or implied by such forward-looking statements.

Contact Information

  • Media contact:
    Joanna Rustin
    Rustin Communications for Star Analytics
    866-496-8028
    Email Contact