Leisure equipment giant Billabong International has become one of the latest organisations to implement business performance management (BPM) to improve its financial and compliance requirements. It is doing so through the implementation of System 9 from Hyperion, distributed locally by Intellient, an EOH Company.

Hyperion System 9 will provide Billabong outfit with a comprehensive financial management solution to automate its financial reporting processes.

Billabong, which specialises in boardsports such as surfing and skateboarding, will implement Hyperion System 9 to strengthen the company’s confidence in its financial and compliance data. It expects the solution to help save a significant amount of time during the reporting cycle.

The company chose Hyperion System 9 Financial Management (HFM) for Hyperion’s experience in providing global collection reporting and analysis solutions. Hyperion System 9 Financial Data Quality Management (FDM) also offered a way to validate the data on which Billabong builds its financial reports and compliance documentation.

Billabong International has market capitalisation of about $2,5 billion and is listed on the Australian stock exchange. It is responsible for the marketing, distribution and sale of boardsport clothing, accessories, shoes, sunglasses, wetsuits and equipment. The company’s brands include Billabong, Element, Von Zipper, Honolua Surf Company, Kustom, Palmers Surf and Nixon.

“By transforming our existing consolidation reporting process into one that leverages Web-based HFM, we estimate we’ll realise significant time savings,” says Craig White, CFO of Billabong International. “At the same time, we’ll improve the integrity of our reporting and compliance data with Hyperion FDM, 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.