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January 20, 2016
MIAMI & LONDON, January 20, 2016 - The Hackett Group, Inc. (NASDAQ: HCKT) today announced the formation of a new practice and service offering within their Enterprise Performance Management Practice (EPM).
Recognizing Oracle's leadership position in cloud computing and the market's increased demand for EPM solutions in the cloud, The Hackett Group is forming a dedicated cloud practice to support Oracle's growing platform. The Hackett Group is a Platinum member of the Oracle PartnerNetwork.
Anthony Manfredi, a senior leader within the EPM practice, is now taking the new role of Oracle EPM Cloud Practice Lead, effective immediately. Mr. Manfredi brings more than 20 years of experience with Oracle EPM/BI solutions and is highly regarded as a prominent professional in this area. He will be leading a global team with resources in North America, Europe, and in The Hackett Group's Mexico and Uruguay development hubs.
This organizational change is building on investments The Hackett Group made in 2015, embedding its best practices and intellectual property within Oracle's Cloud Solutions. The Hackett Group's extensive research in the world of corporate finance combined with its experience in transforming financial planning & analysis (FP&A) and controllership functions has helped it identify a unique set of metrics, process models, and configurations that are empirically proven to help organizations achieve greater efficiency and effectiveness levels throughout finance.
With the inclusion of best practices, the focus of implementations shifts from functions and features to business value and performance outcomes and therefore can unlock greater value to the enterprise. Use of rolling forecasts, levels of detail, operational drivers, and scenario modeling are examples of the types of best practices being employed by top performers to drive greater business value, according to The Hackett Group's research. The Hackett Group has aligned these configuration models with the Oracle EPM Cloud Solutions so that clients can not only implement quickly, but also incorporate these best practices to achieve world-class technology enablement.
Jason Balogh, Hackett EPM Practice Leader states, "Today's economic climate is placing increased pressures on organizations to more rapidly leverage technology to achieve efficiency. Combining best practices with cloud computing can speed this process."
According to The Hackett Group EPM Technology Leader Scott McHale "This dedicated new practice represents The Hackett Group's further extension and investment into its Oracle relationship, We believe Oracle's Cloud leadership position and their extensive investment in this quickly evolving platform create a unique opportunity for our clients. Our clients will have the ability to more efficiently extend their EPM investments by taking advantage of Oracle's Cloud Platform and The Hackett Group's embedded best practices using this dedicated team."
The Hackett Group (NASDAQ: HCKT) is an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices implementation firm to global companies, offering digital transformation and enterprise application approaches including a robotic process automation and cloud computing. 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 13,000 benchmarking studies with major corporations and government agencies, including 93% of the Dow Jones Industrials, 87% of the Fortune 100, 87% of the DAX 30 and 58% 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.
This release contains "forward looking" statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as "expects", "anticipates", "intends", "plans", "believes", seeks", "estimates" or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward looking statements. Forward looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward looking statements. Factors that may impact such forward looking statements included without limitation, the ability of Hackett and/or Oracle to effectively market the Oracle Cloud, competition from other consulting and technology companies who may have or develop in the future, similar offerings, the commercial viability of Oracle and the Oracle Cloud, changes in expectations regarding the information technology industry, the ability of the Company to attract skilled employees, changes in collections of accounts receivable, risk of competition, price and margin trends, changes in general economic conditions and interests rates as well as other risk detailed in Hackett's reports filed with the United States Securities and Exchange Commission. Hackett does not undertake any duty to update this release or any forward looking statements contained herein.