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LONDON, UK - 22 Feb 2010: IBM (NYSE: IBM) announced today that Myriad Group (SIX: MYRN), one of the global leaders in mobile phone software, has selected IBM business analytics software to help streamline financial reporting across its worldwide businesses. Myriad Group has 14 offices globally and more than 800 employees
Myriad resulted from the merger of two of the industry’s leading companies, Purple Labs and Esmertec. It provides software platforms and middleware for 2G and 3G phones and has shipped software on more than two billion phones. Bringing these entities together in a quick and efficient way over the last 9 months was necessary to drive efficiencies and streamline the business, which was time consuming and complicated.
Myriad turned to IBM and IBM business partner ICit Business Intelligence Ltd to help with a successful merger of the two companies and combine the planning, analysis and reporting capabilities of the two organisations. ICit business intelligence Ltd is one of the leading independent business performance management consultancies. As an IBM Business Partner with a multi-disciplined team of finance and systems implementation experts, they work with businesses to help deliver bespoke solutions based on high quality standard software.
IBM business analytics software has helped Myriad to quickly analyse financial data from profit and loss accounts, cash flow information and balance sheets. The result has been more time for managing the performance of the business and focussing on strategic planning.
“Previously, we had a slow month end process because of the complexity of the analysis involved. Now this has been streamlined and simplified. The system is easy to use, and as a global business it’s really powerful to have information available virtually for all our executives. The clarity of the analysis is critical for future growth and prosperity of the business.” commented James Bodha, Chief Financial Officer at Myriad.
“When I started looking at our financial reporting it was clear many of our processes were manual,” James Bodha added. “We were always playing catch-up as the information was out of date by the time it was analysed. Now the time taken to validate the data is much shorter and we’ve been impressed by the software since its implementation. It was complex to bring the acquired businesses together and using one financial reporting system gives us clarity.”
Following the proof of concept for Myriad and the decision to go ahead, the implementation process was completed in just 10 weeks.
“The company has a huge amount of financial information and reporting data to be collated and analysed every month. Now it can complete financial reporting more quickly and efficiently, as well as using the software for forecasting and planning,” commented Mark Bodger, Managing Director, ICit Business Intelligence Ltd.
Ged Simmons, country manager, BI and performance management, UK and Ireland IBM, added “We are delighted that Myriad Group chose IBM business analytics software to help provide them with a clear view of the organisation’s finances as well as manage individual, team and business performance.”
The new IBM analytics system is powered by IBM Cognos Express, an integrated business intelligence and planning solution designed to meet the needs of mid-size companies.
Notes to Editor:
For further information visit: www.ibm.com/cognos/uk
Myriad Group AG is a global leader in mobile technology and has shipped software in more than 2 billion devices. Its comprehensive portfolio includes browsers, messaging, Java, social networking, user interfaces and middleware for all types of mobile phones, from ultra low cost handsets to advanced smart phones.
The company provides both individual components and complete solutions, which enable handset manufacturers and operators to deliver amazing experiences on mobile phones. Myriad also develops USSD-based customer self-care platforms that deliver over 10 billion messages a year to 220 million mobile users across more than 30 mobile operators worldwide.
Myriad was created from the combination of industry-leading companies, Esmertec and Purple Labs. It operates worldwide, with offices in Switzerland, France, UK, USA, China, South Korea, Taiwan, Japan and Australia. Headquartered in Dübendorf-Zürich Switzerland, Myriad is listed on the SIX Swiss Exchange (SIX Symbol: MYRN). For more information, visit: www.myriadgroup.com
About ICit Business Intelligence Ltd
ICit is an accredited IBM Cognos business partner that provides business performance management (BPM) solutions that help companies to plan, measure, analyse and influence future performance.
The company specialises in IBM Cognos software solutions, implementation services, training and support that help empower businesses to streamline their budgeting, planning, reporting, consolidation and analysis – all on a single, common platform.
ICit people are highly experienced, multi-skilled consultants that draw on many years working with customers across all business sectors – at ICit we do what it takes to deliver the right solution in the most cost effective way. With backgrounds in finance, information technology and project management, our consultants use best practice techniques and implementation approaches to ensure successful projects. For more information, visit www.icitbi.com
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