Dubai, United Arab Emirates, May 7th, 2007: HSME, the master Distributor of Hyperion Solutions in the Middle East, and UK-based Paragon Consulting Group, a leading provider of full life cycle services for Performance Management, today announced that they have signed an agreement to form a new joint venture company in the Middle East. The new entity, called Paragon Consulting Middle East (PCME), will provide world-class Performance Management solutions, consultancy and implementation services to organizations in the Middle East region.
Speaking on the joint venture, George Khouri, Managing Director of HSME, said, "With the Middle East market quickly starting to realize the importance of Business Performance Management, we at HSME realized the need to identify and ally ourselves with a leading organization in the Performance Management space that has the domain knowledge and the implementation expertise to address the growing market needs. Paragon Consulting Group was a clear choice for us. Paragon is a leading European Performance Management consultancy organization that enjoys a long-standing reputation of being one of the leading and most respected Performance Management specialists in the world. They are also one of Hyperion’s largest implementation partners in Europe. We are happy to team up with Paragon Consulting to offer our Middle East customers specialized consultancy and implementation services in areas such as financial consolidation, planning and forecasting, budgeting and information delivery. This joint venture offers exciting opportunities for both HSME and Paragon Consulting and will bring significant benefits to our customers."
Paragon Consulting Group provides Performance Management consultancy services, project management, application implementation and application management of high performance and resilient Performance Management solutions. HSME, Hyperion's master distributor in the Middle East, provides Hyperion’s best-of-breed Enterprise Performance Management solutions to customers throughout the Middle East. This joint venture will bring together Paragon Consulting's resources and expertise in Performance Management and HSME's wide reach and vast network of partners and customers in this region. In addition, Paragon Consulting's membership in BPM International, will also provide Middle East companies with access to Europe’s only integrated Performance Management consulting network, whose staff are leading practitioners in the processes, methodologies and systems that are needed to create high performance and reliable Performance Management solutions. This brings even greater value to companies that are seeking to implement successful Performance Management solutions across a multinational organization.
"We see this joint venture as a very important strategic step in Paragon Consulting Group’s growth. The Middle East region is one of the fastest growing and most dynamic markets in the world and is rapidly becoming home to several globally recognized multinational corporations in addition to many internationally expanding local companies. We believe that these organizations need local access to experienced Performance Management consultants who are fully aware of the reporting needs of multinational groups, both from an external reporting perspective and an internal Performance Management perspective. The market demand and opportunities for Performance Management consultancy in the Middle East are significant and HSME represents a partner with its roots firmly established in the region and with a presence throughout the Middle East," said David Jones, Director at Paragon Consulting Group.
"HSME also has an impressive track record of delivery. We share the same values, especially our endless drive to deliver high quality and value added solutions and services to our customers. This makes Paragon and HSME an excellent match as strategic and long term partners for providing Performance Management consulting services in the region. We look forward to working together with HSME and providing a full range of Performance Management solutions and services to the region,” Jones added.
The new joint venture company, PCME, will focus on helping companies in the Middle East to benefit from Business Performance Management solutions and implement best practice processes. PCME will cater to customers in the UAE and GCC markets and will look at expanding their services to other growing markets across the wider Middle East and into the Indian sub-continent in future.
