June 7, 2011

The Hackett Group Recognizes HP As a World-Class Performer in Corporate Finance

  • HP Achieved Top-Quartile Efficiency and Effectiveness in Finance Benchmark

ATLANTA & LONDON, June 7, 2011 - The Hackett Group, Inc. (NASDAQ: HCKT), a global strategic advisory firm, today recognized HP as a world-class performer in corporate finance, according to its finance benchmarking efforts.

The award was presented to HP Executive Vice President and CFO Cathie Lesjak and accepted by HP Vice President, Finance Strategy & Transformation, Michael Bordoni at The Hackett Group's 21th Best Practices Conference in Atlanta. It was based on the results of an in-depth benchmark performed by The Hackett Group, and recognizes HP's status as an organization demonstrating top quartile efficiency and effectiveness in finance operations. HP generated $126 billion in net revenue in 2010. The company currently has more than 300,000 employees and does business in over 170 countries.

Finance is the third business operations function at HP to achieve world-class performance levels. HP has also achieved world-class performance standing in both human resources and indirect procurement, based on The Hackett Group's benchmarking efforts.

According to The Hackett Group Principal Bryan Hall, "HP did their initial benchmark with us in 2007, and has completed several world-class progress reports since then. Overall, the speed with which they've achieved world-class performance has been uniquely impressive. HP has done an exceptional job of streamlining and standardizing their processes to reduce the cost and effort required to handle the transactional elements of finance. This has enabled them to provide more strategic value to the business.

"One key to their success has been their proactive approach to expanding the global footprint of their finance operation," said Mr. Hall. "They have made highly effective use of low-cost labor markets, and have used the savings they've generated in this area and others to help drive improved value, through the development of systems such as a powerful data warehousing tool that enables them to achieve a new level of insight into their business. These are just a few examples of what they've been able to achieve."

According to HP's Lesjak, "HP has made a comprehensive commitment to improving the efficiency and effectiveness of our finance operations to drive real value for the business and to use the G&A functions to offer strategic insights and guidance that helps the company succeed in the marketplace. For several years now, using The Hackett Group's benchmarks as our guide, we have built a true process improvement mindset, and it has enabled us to achieve our goal of world-class performance in finance faster than we had even hoped to."

According to The Hackett Group's best practices benchmarking research, world-class finance organizations operate at nearly half the annual cost of typical companies and have less than half the staff. At the same time, these finance organizations are dramatically more effective than their peers, better at strategic business support, and drive improved bottom line results for their companies.


About The Hackett Group, Inc.

The Hackett Group (NASDAQ: HCKT) is an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices implementation firm to global companies. Services include business transformation, enterprise performance management, working capital management, and global business services. The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement, and information technology, including its award-winning Oracle EPM and SAP practices.

The Hackett Group has completed more than 11,000 benchmarking studies with major corporations and government agencies, including 93% of the Dow Jones Industrials, 86% of the Fortune 100, 87% of the DAX 30 and 52% of the FTSE 100. These studies drive its Best Practice Intelligence Center™ which includes the firm's benchmarking metrics, best practices repository, and best practice configuration guides and process flows, which enable The Hackett Group's clients and partners to achieve world-class performance.