Actuate Adds First Spreadsheet Application Platform to Financial Performance Management Solution; Actuate FPM 2.0 Creates Secure, Auditable and Compliant Closed-Looped Processes with Server-Based Spreadsheets.

SOUTH SAN FRANCISCO, Calif. -- Actuate Corporation (NASDAQ:ACTU), the world leader in Enterprise Reporting Applications, today announced that Actuate Financial Performance Management (FPM) is the first solution to use a spreadsheet interface to automate the production, distribution, updates, workflow, and collaboration associated with financial performance management. Companies can now create closed-loop processes in server-based spreadsheets that leverage existing business logic through a familiar, preferred interface, while removing risks associated with manual spreadsheet processes through automation of data delivery, collection and return.

Every organization has some financial processes driven by error-prone manual spreadsheets. The proliferation and convenience of this desktop analysis tool makes it impossible to completely remove from the company. Many organizations have attempted to remove spreadsheets only to discover that users will sabotage new processes by continuing to export and analyze information in Excel. A strategy of embracing server-based spreadsheets will allow CFOs and the Finance organization to gain the cooperation of end-users in a repeatable, auditable business process, and it will enable IT managers to leverage existing spreadsheet infrastructure and to centralize the creation, dissemination, and updating of information in these spreadsheet-based applications.

"The balancing act between user demand for particular tools and organizational need for centralized control of information is one we've had to cope with in the past," said Steve Dewar, Assistant Comptroller and Manager, Financial Reporting of York University. "With Actuate FPM the balancing act is no longer necessary. We can provide trustworthy financial-performance spreadsheets daily or on-demand."

The Actuate FPM spreadsheet interface contains server-managed workflow, guided analysis, and automated write-back to central data stores. The server-managed workflow reminds users to update and submit changes through event based scheduling. It updates any central data store through processing rules, and generates new spreadsheets as the process requires. The spreadsheet based guided analysis includes validation rules to reduce errors introduced by the user, worksheet and cell locking to prevent fraud, and preserves business rules to keep processes and Excel models intact. Integrated write-back to corporate databases based on business rules and user/application security is also tracked in a usage log that allows the process owners to monitor user activity. By using the new spreadsheet-based functionality of Actuate FPM 2.0, companies are able to extend the value of traditional spreadsheets and create server-based spreadsheets that answer the needs of CFOs, operational managers, IT professionals, and end-users.

Spreadsheets have become the de-facto standard for communicating business information, as well as the preferred tool for analyzing and updating business data. Unlike Actuate FPM, other Business Intelligence solutions require plug-ins to enable Excel spreadsheets to update centralized data sources. These plug-ins limit the number of users able to participate in the process and raise the client maintenance costs for IT. But Actuate's spreadsheets have no deployment barriers, and do not require plug-ins, special versions of Excel, or special configurations. Actuate's managed spreadsheets eliminate version discrepancies and reduce the spread of data to multiple silos. Other solutions require separate procedures to make changes enterprise-wide, which increases process complexity and turn-around times. Actuate FPM allows users to easily make changes that can automatically update all operational systems, as well as the data warehouse.

"Actuate FPM now allows companies to use a spreadsheet interface for high frequency, high volume processes that spread fiscal accountability throughout the enterprise," said Richard Stark, director of financial performance management solutions for Actuate. "We also see demand for this type of application in a variety of broader performance management applications that link support financial processes, such as sales forecasting and supply chain planning."

Pricing and Availability

Actuate FPM 2.0 is immediately available, and a sample configuration costs approximately $200,000 for a 50-user license. This pricing includes the Actuate iServer, the Actuate e.Spreadsheet Option or the e.Report Option, and the eServices Rapid Time to Value package (RTTV), allowing companies to go from purchase to value realization in as little as 8 weeks with only 75 person days.

About Actuate Corporation

Actuate Corporation is the world leader in Enterprise Reporting Applications that ensure 100% adoption by users. Actuate's Enterprise Reporting Application Platform is the foundation on which Global 9000 organizations (companies with annual revenues greater than $1 billion) and packaged application software vendors develop intuitive, Web portal-like reporting and analytic applications that empower 100% of users with decision-making information. These applications are deployed inside and outside the firewall to improve corporate performance across a range of business functions including financial management, sales, human resource management, and customer self-service. When tested against other business intelligence products, Actuate's Enterprise Reporting Application Platform has been proven to offer industry-leading scalability and the lowest Total Cost of Ownership. Actuate has over 3,000 customers globally in a range of industries including financial services, pharmaceuticals, insurance, and distribution services, as well as the government sector.

Founded in 1993, Actuate has headquarters in South San Francisco, Calif., and has offices worldwide. Actuate is listed on the NASDAQ exchange under the symbol ACTU. For more information on Actuate, visit the company's Web site at www.actuate.com.

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