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Coda Financials – Destination: Control Raises the Bar for Financial Control with New Control Framework and Significant Power and Precision Controls

UNIT4, the world’s leading provider of enterprise software for Businesses Living IN Change (BLINC)™, today announced Coda Financials – Destination: Control, the 12th generation release of its market-leading, best-of-class Coda Financials financial management software.  Coda Financials – Destination: Control helps financial and technology executives in mid- to large-sized organizations to 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 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 Ton Dobbe, V.P, Product Marketing, UNIT4. “The control framework thereby eliminates the risk and potential cost of non-compliance in such best-of-class IT infrastructures. On top of that, the 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 management software attached to enterprise resource planning suites.”

UNIT4 is known throughout the enterprise software world for market-leading solutions that support business/operational change, with 6,000+ global customers primarily benefiting from its Coda Financials and Agresso Business World lines. Coda is unparalleled 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 – a strategic component in UNIT4’s Independence Strategy

Coda Financials – Destination: Control (Version 12) 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 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. “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.”

Supporting quotes from industry analysts:

“No CFO wants to be on the cover of the Financial Times or BusinessWeek explaining away their recent earnings or fraud fiasco. 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.” – Brian Sommer, President of Vital Analysis

“In the fast-paced world of 2011 and beyond, high volumes of data are the norm and organizations are challenged to do more with fewer resources. To achieve all this with scarce resources in compressed times, financial managers will turn to proven automation tools to maximize the value of repeatable and refinable processes.” – PJ Jakovljevic, Principal Analyst, Technology Evaluation Centers (TEC)