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January 29, 2009
ATLANTA & LONDON, January 29, 2009 - The Hackett Group, Inc. (NASDAQ: HCKT), a global strategic advisory firm, announced today it has recognized Ontario Power Generation (OPG) as a world-class performer in finance operations.
The award recognizes OPG's status as an organization demonstrating top quartile efficiency and effectiveness in finance operations, based on metrics captured during a finance functional benchmark. The company's results were compared with results from more than 200 recent Hackett benchmarks performed with Global 1000 companies, state and federal government organizations, and academic institutions.
"We congratulate OPG on this exceptional accomplishment," said Hackett President Wayne Mincey. "OPG has reason to be proud, because it's no easy feat to achieve world-class performance. In today's increasingly competitive global marketplace, world-class performance in finance and other areas has become even more valuable. Clearly this is something that OPG has internalized."
According to The Hackett Group's Book of Numbers™ research, world-class finance organizations spend approximately 50% of what typical companies do on operations, and operate with 60% fewer staff. Keys to success include: a focus on process simplification and standardization; utilization of shared services; improved technology leverage; better data centralization and information access; and business partnering, including investments in planning and analysis processes and overall improvement in the skill set of finance staff.
"Only about 10% of all finance organizations benchmarked by Hackett achieve world-class performance. OPG joins an elite group of organizations, like Dow and Alcoa, that have been able to drive meaningful change in a balanced way," comments Bryan Hall, Hackett Finance Practice Leader.
OPG's Chief Financial Officer Donn Hanbidge said, "It's an honour to receive this prestigious award and to join the other distinguished organizations who have received it in the past. This award reflects the dedication of finance employees who are committed to continuously improving OPG's financial systems and processes. Their efforts to enhance the efficiency and effectiveness of the finance function have delivered significant value to the entire company. I am very proud of their perseverance, professionalism and dedication. This award is a testimony to their success."
The Hackett Group, Inc. (NASDAQ: HCKT), a global strategic advisory firm, is a leader in best practice advisory, benchmarking, and transformation consulting services, including shared services, offshoring and outsourcing advice. Utilizing best practices and implementation insights from more than 4,000 benchmarking engagements, executives use Hackett's empirically based approach to quickly define and prioritize initiatives to enable world-class performance. Through its REL brand, Hackett offers working capital solutions focused on delivering significant cash flow improvements. Through its Hackett Technology Solutions group, Hackett offers business application consulting services that helps maximize returns on IT investments. Hackett has worked with 2,700 major corporations and government agencies, including 97% of the Dow Jones Industrials, 73% of the Fortune 100, 73% of the DAX 30 and 45% of the FTSE 100.
Founded in 1991, The Hackett Group was acquired by Answerthink, which was renamed The Hackett Group in 2008. The Hackett Group has global offices in the United States, Europe and India.
More information on The Hackett Group is available: by phone at (770) 225-7300; by e-mail at firstname.lastname@example.org; or on the Web at www.thehackettgroup.com.
Ontario Power Generation (OPG) is an Ontario-based electricity generation company whose principal business is the generation and sale of electricity in Ontario. Their focus is on the efficient production and sale of electricity from generation assets, while operating in a safe, open and environmentally responsible manner. OPG's generating portfolio has a total capacity of almost 22,000 megawatts (MW) making OPG one of the largest power generators in North America.