Best-in-Class Enterprise Financial Planning, Budgeting and Forecasting Combined With the World's Leading Enterprise Performance Management and Business Intelligence Foundation Corporate NewsWire Press Release BizWiz Company News BizWizWire

Best-in-Class Enterprise Financial Planning, Budgeting and Forecasting Combined With the World's Leading Enterprise Performance Management and Business Intelligence Foundation

MediaBridge Public Relations

REDWOOD CITY, CA Apr. 16, 2003

Closedloop Solutions, Inc., the leader in real-time enterprise financial planning and forecasting applications, has signed a global technology partnership with Business Objects (NASDAQ: BOBJ), the world's leading provider of business intelligence (BI) solutions, to offer companies a no-compromise solution for enterprise financial performance management.

More information and a digital media kit can be viewed at www.expresswire.com/epm.

"Collaborative financial planning and forecasting are critical elements in an effective Enterprise Performance Management (EPM) strategy," said Beverly Powell-Goldman, Group Vice President of Strategic Alliances at Business Objects. "Forward visibility to revenues and key business drivers provides greater lead time for companies to shape a cohesive, coordinated response to changing business conditions. Closedloop provides a best-of-breed platform for enabling this visibility and is highly compatible with the Business Objects BI solution."

When compared to traditional legacy cube-based financial planning solutions, the Closedloop platform offers a quantum improvement in scalability and speed for highly distributed, dynamic planning and forecasting. It can be rapidly deployed, and is both easy and inexpensive to maintain. Business Objects customers are now able to implement Closedloop's best-in-class solutions for planning, budgeting and forecasting to complement their existing business intelligence systems, without having to buy a whole new suite of older applications from legacy vendors.

"Customers and analysts are asking serious questions about the adequacy of batch-based, slow moving, hard-to-use corporate planning systems offered by legacy vendors. Closedloop's collaborative capabilities for planning, forecasting and resource control eliminate the cumbersome mechanics of legacy planning systems while increasing the span of participation in the forecasting process," said Doug Barton, Vice President at Closedloop Solutions. "The strong compatibility between the Business Objects BI platform and Closedloop's DFC applications support a higher level of enterprise financial performance management at a lower total cost than other alternatives, and ensures greater participation by key stakeholders and business managers to drive more predictable financial performance."

About Closedloop Solutions

Closedloop Solutions is the creator of the Dynamic Financial Control platform, a breakthrough in collaborative, forward-looking financial management solutions that improve managerial visibility and control of business enterprises. This next generation platform is the most complete suite of revenue, expense, headcount, and capital planning, budgeting and forecasting software ever available. Closedloop's solutions empower companies to sense market changes and respond with revised financial plans and operational actions to better achieve corporate financial targets. Named a "leader" and the "most visionary" by AMR Research and Giga Information Group respectively, Closedloop's customers include Caterpillar, Cadence Design Systems and Symantec Corporation. For complete details on Closedloop Dynamic Financial Control(TM) 3.5 for Business Objects customers, please visit www.closedloop.com/businessobjects.

Contact: Kurt Barnhart
Contact Email: Available to BizWiz Members
Contact Tel: 1-650-618-1544

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