Designed for independently minded CFOs, the latest release of Coda Financials raises the bar on financial control with a new framework and significant new Power and Precision controls.
UNIT4 CODA, a division of UNIT4 has announced Coda Financials–Destination: Control, the 12th generation release of its Coda Financials financial management software. Coda Financials–Destination: Control helps financial and technology executives in mid- to large-sized organizations more effectively manage the risks and costs associated with shifting regulatory, financial, and organizational circumstances. The solution is applicable across all industry sectors.
The Destination: Control release includes three new layers of financial control: a control framework to automate financial controls across processes, applications and people, plus more than 10 new Power Controls and 10 new Precision Controls. UNIT4 CODA executives say that this significant and multi-faceted release once again raises the bar of financial control in best-of-class environments, and provides a compelling reason for organizations to add Coda Financials to whatever enterprise software solutions are currently installed–to greatly expand the ability to manage change and complexity, while anticipating and/or cutting costs.
“Whether you are a retailer, manufacturer, transport company or financial services organization, Coda Financials–Destination: Control will help you to accurately connect, view and control the multiple information sources that impact your financial operations,” said Steven J. Pugh, chief executive officer, UNIT4 CODA. “The control framework eliminates the risk and potential cost of non-compliance in best-of-class IT infrastructures. On top of that, the more than 20 new power and precision features embedded in this release provide the CFO/Controller an unprecedented level of precision in execution and an increased ability to do more with less through better insight and enhanced ways to manage high volumes of data. The new visibility, accuracy, analytic and reporting features far surpass the control capabilities of financial applications attached to enterprise resource planning suites.”
"No CFO wants to be on the cover of the Financial Times or BusinessWeek explaining away their recent earnings or fraud fiasco," says Brian Sommer, president of Vital Analysis. "At the root of most of these matters is a serious breakdown in controls and trust. It's human nature to be trusting but better businesses rely on more. They're the ones that have the great processes, systems and oversight. They're also the ones delighting Wall Street. Smart CFOs want more of accounting software than just debits and credits; they want capabilities such as those in Coda’s new Destination Control release,” says Sommer.
UNIT4 is known for leading solutions that support business/operational change. It has more than 6,000 global customers primarily benefiting from its Coda Financials and Agresso Business World lines. Coda is recognized for its financial control and technology interoperability strengths as a best-of-class financial backbone for organizations running on multiple software platforms. Separately, UNIT4’s Agresso Business World suite of enterprise resource planning (ERP) software is renowned for post-implementation agility features that support continuous, low-cost “do-it-yourself” changes after software deployment.
Coda Financials–Destination: Control (V12) is part of UNIT4’s “Independence” strategy geared to financial and technology executives seeking relief from “one size fits all” software solution suites. Research shows that typical Coda customers operate under challenging market conditions that require the most robust business principles and change/control management capabilities. Accordingly, they tend to reject the brand-name ERP financial modules—that may restrict creative, independent thinking—and one-vendor deployment approaches.
“The amount of growth and change Debenhams is subject to requires significant vision, a strong management team and reliable information systems,” said Michael Conway, financial manager at Debenhams, a leading U.K. retailer. “Technology plays a pivotal role in helping us to understand our operational and financial performance and at the heart of our financial infrastructure is Coda Financials. Given our complex accounting structure we need a solution that can grow and cope with ongoing changes, the addition of new stores and processing the huge volumes of daily transactions. Coda is that solution and we have been a Coda user since 2001... All in all, I believe Coda has produced a best-of-class financial management solution that is unrivalled in the market and we are already planning our upgrade to Destination: Control.”
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