CODA Announces Plans to Provide On-Demand Products and Software as a Service

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Enhanced product & platform strategy addresses market requirement from 10s of employees to 10,000 plus.

CODA Group, the finance systems specialist, today announced its intentions to provide a 'Software as a Service' (SaaS) solution to broaden the availability of its award winning finance systems.

In addition to the already extensive list of technology platforms that support its products, CODA has committed to deliver a true 'on demand' application suite delivered using the Software as a Service (SaaS) method. This will become a core finance application, offered in addition to CODA's established 'Financials' and 'Dream' products.

CODA's strategy remains the provision of software solutions to meet the business challenges of CFOs and their finance teams from organisations of all sizes, using all leading technology platforms. The increasing popularity of SaaS makes it a logical direction to extend this 'multi platform' commitment. It also allows CODA to develop a product portfolio to appeal to a far wider range of businesses. CODA will be able to address the accounting system needs of companies ranging in size from tens to tens of thousands of employees.

Jeremy Roche, CEO of CODA plc said: "Good financial control matters to big and small organisations alike. CODA's on demand solution will support the finance needs of all types of organisation, bringing the benefits of our acclaimed global accounting applications to businesses of all shapes and sizes. Our vision is to be able to address the financial application software needs of virtually any business."

CODA's new application suite will be built as a true multi-tenanted solution that will allow genuine on-demand SaaS delivery. In order for customers to achieve maximum benefit from this method of delivery they will need a range of applications that can easily be integrated, and CODA will therefore support the latest industry standards.

Mr. Roche continued: "Our on demand solution will incorporate many of the best features of Dream and Financials. In particular it will continue CODA's unique and powerful unified ledger design, widely acknowledged as the best for transaction processing and information delivery. We will release our solution process by process, with the first being Revenue Management (opportunity-to-cash) followed by Procurement and Financial Management."

CODA creates some of the most advanced application software for finance departments currently available. Its 28 year history has been dedicated to the development of this class of product and the expertise needed to support, implement and enhance solutions based on them. This background of providing sophisticated solutions to complex accounting problems is reflected in CODA's approach to the 'SaaS Market'. The company aims to use this experience by targeting businesses on a rapid growth path with this new solution.

CODA continues to be strongly committed to more traditional delivery models, believing the choice of approach should depend on the strategic and technology requirements of the individual business. By continuing its multi platform strategy CODA will be able to apply the right technology and delivery method to each individual customer.

This announcement makes CODA the only financial management specialist with solutions for organisations of all sizes. It will meet the widespread demand from users wishing to be free to select the most suitable finance system combined with strong integration capabilities, and the most appropriate technology platform choice for their business.

About CODA
CODA creates, markets and implements a complete range of software systems designed specifically to meet the needs of Financial Directors and Finance Departments. These include financial management systems, analysis applications, and business process management and control software to implement compliance solutions. Its service oriented architecture also makes CODA software easy for clients and other vendors to integrate it with their business applications.

CODA was founded in 1979, has around 600 employees working at 18 offices in 14 countries. CODA software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations, and is used by around 2,600 medium and large organizations in over 100 countries in a variety of markets and within both public and commercial sectors.

For more information, please visit: http://www.coda.com

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Emma Hoyle
CODA
+44 (0)1423 537977
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Christopher Webb
CODA
+44 (0)1423 537 837
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