Budgeting Software Journal

Budgeting and Forecasting Software News And Reviews

AVEVA selects OCRA from CODA for Consolidation and Reporting

By Budgeting Software Journal

Engineering systems specialist live on CODA’s new financial consolidation system. Less reliance on spreadsheets means less time and effort spent on monthly reports.

CODA Group, the finance software specialist, today announced that global specialist in engineering and computer aided design systems, AVEVA, has implemented its OCRA software to improve Group reporting.

AVEVA wanted to enhance Group financial visibility and improve management information. The company has experienced significant benefits from the new OCRA solution over spreadsheets including a reduction in the time and effort that it takes to produce its monthly reports.

“This has freed up more time for monitoring and reviewing financial information even as the business is experiencing considerable growth,” said Karl Grenz, Group Financial Controller at AVEVA. “We now benefit from a more efficient inter-company reconciliation process and an audit trail running throughout the consolidation process. The budgeting process is also much improved as OCRA enables us to take and hold information from Microsoft Excel which can then be accessed easily for reporting against actuals. The solution helps us define an accurate single view of our global finances.” [Read more…]

CODA to provide global accounting software for Caterpillar

By Budgeting Software Journal

CODA plc, the finance systems specialist quoted on the Alternative Investment Market (AIM; stock code: CODA), today announced it has signed a contract with Caterpillar Inc, the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.

The contract covers licenses for CODA e-Finance, CODA’s web-browser based international accounting system, along with several related products (CODA-XL, CODA e-Assets and XMLi) for use at Caterpillar Inc. sites and Caterpillar dealers worldwide.

CODA focuses on financial accounting systems for medium to large organizations, particularly those that have a strong international focus. This is the latest in a series of international clients won by CODA, including the recently announced Louvre Hotels, based in France.

“We are delighted to be working with Caterpillar Inc., and providing the core finance system for their global dealer network,” said Jeremy Roche, CEO of CODA plc. “I believe this project demonstrates the ability of CODA-Financials to scale across businesses of all sizes, and particularly exploits the product’s suitability for multi-site, multi-company and dealer-network operations.”