HP Achieved Top-Quartile Efficiency and Effectiveness in Finance Benchmark

ATLANTA & LONDON--(BUSINESS WIRE)-- 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 21^th 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), a global strategic business advisory and operations improvement consulting firm, is a leader in best practice advisory, business benchmarking, and transformation consulting services including strategy and operations, working capital management, and globalization advice.

Utilizing best practices and implementation insights from more than 5,000 benchmarking engagements, executives use The Hackett Group's empirically-based approach to quickly define and implement initiatives to enable world-class performance. Through its REL group, The Hackett Group offers working capital solutions focused on delivering significant cash flow improvements. Through its Archstone Consulting group, The Hackett Group offers Strategy & Operations consulting services in the Consumer and Industrial Products, Pharmaceutical, Manufacturing and Financial Services industry sectors. Through its Hackett Technology Solutions group, The Hackett Group offers business application consulting services that help maximize returns on IT investments. The Hackett Group has completed benchmark studies with 2,700 major corporations and government agencies, including 97% of the Dow Jones Industrials, 73% of the Fortune 100, 73% of the DAX 30 and 50% of the FTSE 100.

More information on The Hackett Group is available: by phone at (770) 225-7300; by e-mail at info@thehackettgroup.com.

CONTACT:

The Hackett Group, Inc.
Gary Baker, 610-234-5900
Communications Director
gbaker@thehackettgroup.com

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