Hyundai Motor America Chooses SRC Advisor Series to Streamline and Improve Budgeting and Financial Planning.

Business Editors & High-Tech Writers

PORTLAND, Ore.--(BUSINESS WIRE)--March 11, 2002

SRC Software, the leader in providing flexible solutions for enterprise budgeting and financial planning, has announced that Hyundai Motor America has selected SRC's Advisor Series(TM) to improve its budgeting and financial reporting processes.

SRC's Advisor Series is an enterprise financial planning and reporting solution that provides extremely robust and flexible capabilities for planning, reporting and budgeting, features an intuitive and powerful Excel-based interface and is quick and efficient to deploy.

Hyundai Motor America, a subsidiary of Hyundai Motor Co. of Korea, will implement the Advisor Series, including Budget Advisor(TM), Payroll Planner(TM) and Information Advisor(TM) for 100 users company wide. Plans call for the system to be up and running by late April. The implementation will utilize an SQL Server database.

All of Hyundai's financial models, including its annual operating plan, forecasts and financial reporting are in Microsoft Excel. Hyundai previously would upload these spreadsheets to their general ledger system, but wanted to make the budgeting process more efficient.

"One of the main reasons we chose SRC is the flexibility of the Advisor Series," said Jim Carter, manager, financial planning and analysis, Hyundai Motor America. "Every time we came up with a new scenario during the sales process, the sales team showed us how the Advisor Series could handle each unique situation. This was a very impressive feature of the system.

"We are confident that our budget process will now be much more efficient. The Advisor Series will allow us to devote much more time to analysis and scenario creation rather than managing links and inputting data. We have very high expectations for both financial reporting and forecasting with the Advisor Series. We expect to reduce both of these processes to a few mouse clicks," Carter said.

Hyundai represents the first automotive company to select the SRC Advisor Series.

"We are excited to work with Hyundai to assist them in meeting the financial planning challenges of the automotive industry," said Peri Pierone, vice president of sales, SRC. "This contract with Hyundai demonstrates the `flexibility factor' of SRC's solution, which can easily adapt to fit the needs of large enterprises in a wide range of markets."

Hyundai will use three key modules of the Advisor Series: Budget Advisor, a fully user-definable solution for budget preparation, forecasting and analysis; Payroll Planner, which provides detailed payroll budgeting at the individual employee or job code level; and Information Advisor, a robust tool for consolidations, financial reporting and ad hoc analysis.

Hyundai Motor America, headquartered in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Co. of Korea. Hyundai cars and light trucks are distributed throughout the United States by Hyundai Motor America and are sold and serviced by more than 500 Hyundai dealerships nationwide.

Founded in 1972, Hyundai has already become a major global player, with plants and dealerships that span six continents. The Hyundai Group is among the world's largest and most diversified business organizations with 45 affiliated domestic companies and 254 overseas companies in nearly 200 countries. In addition to automotive, Hyundai is active in such varied industries as shipbuilding, steel, petrochemicals, heavy machinery, aerospace, electronics, and financial services.

SRC Software (www.srcsoftware.com) is the leader in providing flexible solutions for enterprise financial planning and corporate performance management. With over 1,200 installations of its multi-platform Advisor Series(TM) in mid- to high-end enterprises, SRC's highly personalized budgeting, payroll planning and multi-source consolidation/reporting solutions are used by companies such as Washington Mutual Finance, Harrah's Las Vegas casino hotel, Caterpillar Logistics Services Inc. and C-SPAN. SRC offers a full complement of financial planning and analysis tools through its unique integration of spreadsheets and industry-leading databases complete with full-scale web deployment. The company is privately held and based in Portland, Ore.; has regional offices in Massachusetts, Michigan and Texas; and distribution channels in more than 16 countries. For more information, contact SRC Software at 1-800-544-3477 or by e-mail at [e-mail].

Advisor Series, Budget Advisor, Payroll Planner and Information Advisor are trademarks of SRC Software.