Answerthink Announces Major Enhancements To Best Practices Implementation Tools and Knowledge Repository
June 08 2005 - 4:30PM
Business Wire
Answerthink, Inc. (NASDAQ:ANSR): -- Improvements Enable Clients to
Better Integrate Hackett-Certified(SM) Practices, Enhance Business
Performance, Speed Implementations and Increase ROI Of Enterprise
Transformation and Technology Initiatives Answerthink, Inc.
(NASDAQ:ANSR) today announced the completion of major enhancements
to its Best Practices Implementation (BPI) knowledge repository.
BPI is a comprehensive toolset designed to enhance business
performance and return on investment (ROI) from enterprise-wide
transformation initiatives by integrating best practices and
performance metrics from The Hackett Group, a business process
advisory firm. Answerthink is a leading business and technology
consulting firm that enables companies to achieve world-class
business performance. The BPI knowledge repository contains ERP
software configuration guides, best practice process flows,
detailed best practice descriptions and other tools and content
that enable Answerthink to directly correlate proven best
practices, derived from the world's most successful companies, to
configuration decisions in the implementation of leading
applications from Lawson, Oracle, PeopleSoft, SAP, and others. In
addition, BPI details the benefits, implementation risks, and key
technology enablers associated with the adoption of individual best
practices. The BPI enhancements expand its scope of
Hackett-Certified(SM) Practices in finance, IT, HR, procurement,
and other key operations areas. End-to-end process designs have
been added in procure-to-pay, order-to-cash, and planning and
performance management. The flexibility of BPI has significantly
increased, with a new data structure that enables more
sophisticated searches, including searches keyed to specific
Hackett process taxonomy elements, best practice themes, and the
applicability of best practices to specific industries. Finally,
BPI has been redesigned to enable extending access of certain
content directly to clients. The Hackett Group is a world leader in
best practice research, benchmarking, and advisory services that
empower executives to achieve world-class enterprise performance.
Hackett offers analysis and insight backed by metrics derived from
3,300 benchmark studies over 13 years by almost 2,000 of the
world's leading companies, including 93% of the Dow Jones
Industrials. Since it was formally launched in early 2003, BPI has
proven its value with clients. Answerthink estimates that BPI has
reduced overall implementation time, and helped clients generate
significantly greater value from their enterprise transformation
and technology initiatives. Executives from major Answerthink
clients, including The Williams Company, have said they clearly see
the value BPI has offered their company, and applaud Answerthink's
continued efforts to expand the knowledge repository. Hackett's
research clearly shows that companies which achieve world-class
performance levels in key operational areas see a broad array of
benefits tied to improved efficiency and effectiveness. For
example, in finance, world-class organizations spend 31 percent
less than typical companies and operate with about half the staff,
while closing their books more quickly each month and reaping
significant gains through reductions in areas such as effective tax
rates and days sales outstanding. In IT, Hackett's research shows
that world-class organizations execute projects on time, on budget,
and to specification 34 percent more often than typical companies,
while spending less and operating with fewer staff. According to
Answerthink President, CTO, and Senior Hackett Fellow Allan Frank,
"Over the past two years we've helped hundreds of clients drive
towards world-class performance using our BPI Tools and knowledge
repository. We've shown that with BPI we can help companies cut the
implementation time and make smarter design decisions in their
enterprise technology initiatives, enabling higher levels of ROI
more quickly. By using empirical data and proven best practices
from The Hackett Group as the foundation of their enterprise
transformation and technology initiatives, companies know they're
starting with proven strategies and practices that have
demonstrated their value at the world's most successful companies.
It's exceptionally valuable in a world where ROI from enterprise
technology solutions can be exceedingly elusive. "Our latest
enhancements to BPI make it an even more powerful tool for our
consulting associates and for our clients," said Mr. Frank. "We've
invested thousands of hours of staff time to further expand the
best practices in BPI, and provide associates with the knowledge
and tools to integrate those best practices as part of their
implementation efforts. We've also made BPI much easier to use, and
have reconfigured it so that clients will be able to access and
learn from it directly. In addition, the focus on key end-to-end
processes better enables us to optimize and streamline business
activities regardless of how they're split up between different
departments or functional organizations." The Williams Companies
CFO Hails Value of BPI Answerthink's largest and most successful
clients have publicly lauded the value of BPI, and the results
Answerthink has been able to accomplish through its use supporting
their enterprise technology implementations. At The Williams
Companies, a $12.6 billion producer, processor, and transporter of
natural gas, Answerthink utilized BPI to dramatically speed up the
initial stages of its Oracle implementation. "Answerthink helped us
understand the direct correlation between Hackett's benchmark
findings and the configuration decisions we were making in Oracle,"
said Don Chappel, Williams' chief financial officer. "BPI helped us
keep a demanding schedule, and move from a go decision to
implementation in less than eight months. We believe we cut two
months off the configuration design process alone. "Answerthink has
created something valuable in BPI, and the enhancements they've
made can only increase that value," said Mr. Chappel. More Best
Practices and Tools, Better Access As part of the BPI enhancements,
Answerthink reviewed, revised, and expanded best practices in 13
process areas. The number of best practices in the knowledge base
was increased by almost 30 percent, and more tools are now
available within the knowledge repository as well. These
application-specific tools, including implementation and
configuration guides, current state questionnaires, process flows,
and fit/gap requirements matrices, enable Answerthink consultants
to link Hackett-Certified(SM) Practices to technology
implementation solutions. The improved process flows contained
within BPI focus on end-to-end processes in three key areas --
procure-to-pay, order-to-cash, and planning and performance
management. These enable Answerthink consultants to optimize
processes despite the fact that responsibility for them crosses
functional boundaries within an organization, such as the shared
responsibility of procurement and finance for accounts payable. The
structure and search capabilities of the BPI knowledge base have
also been enhanced, making it significantly easier to find the best
practices that are most relevant to a specific company or client
engagement. Best practices can be searched individually using
Hackett's comprehensive process taxonomies. Best practices and
tools can also be identified by industry applicability and by their
relevancy to one or more of 13 themes such as alignment to
strategy, quality improvements, managing risk, and increasing
customer satisfaction. Finally, an external mode has been added to
BPI, enabling client direct access to large portions of the
knowledge base so that they can explore best practices that might
be most relevant to their organization. About Answerthink
Answerthink, Inc., http://www.answerthink.com, is a leading
business and technology consulting firm that enables companies to
achieve world-class business performance. By leveraging the
comprehensive database of The Hackett Group, Answerthink's business
and technology solutions help clients significantly improve
performance and maximize returns on technology investments.
Answerthink's capabilities include benchmarking, business
transformation, business applications, business intelligence, and
offshore application development and support. Founded in 1997,
Answerthink has offices throughout the United States and in Europe
and India. Certain statements in this press release are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 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 impact such forward looking statements include the ability of
the Company to attract additional business, changes in expectations
regarding the information technology industry, the ability of the
Company to attract skilled employees, possible changes in
collections of accounts receivable, risks of competition, price and
margin trends, changes in general economic conditions and interest
rates as well as other risks detailed in the Company's reports
filed with the Securities and Exchange Commission.
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