FSN: CAT CIS updates CODA systems for international finance

CAT CIS updates CODA systems for international finance

3rd March 2008
Mantrac Group, one of Caterpillar Inc's largest equipment dealers operating in the Middle East, Africa and the Commonwealth of Independent States (CIS), has purchased CODA's international accounting and consolidation solutions in a deal worth more than £400,000 in software and services. 330 users across operations in Egypt , Ghana , Kenya , Iraq , Uganda , Nigeria , Tanzania , Sierra Leone , Russia , UK and United Arab Emirates will benefit from the software which will help the company meet its objectives of further standardising software and processes across the Group.

“We wanted to further improve, standardise and update our financial systems and processes across the Group using more modern and efficient technology,” said Dr. Wagdy El Itriby, General Manager of IT at Mantrac Group. “We are migrating to an open client server platform and are confident we will be able to reduce the level of manual accounting activity once we have up to date, centrally installed software. In addition to Financials, CODA's consolidation and budgeting software will help us to collate and gather vital information from each subsidiary, so that we have instant access for reporting purposes, saving time whilst ensuring more accurate information is delivered. It will also enable us to considerably improve our budgeting and re-forecasting processes at Group level. With everyone working from the same systems and processes, we will have a more accurate real-time picture of Group operations throughout the year.”

Mantrac plans to interface the Financials accounting system and Consolidation software with other line of business systems so that users can access the information they need easily and securely. The company has also purchased licenses for XL, CODA's add-on reporting tool for Financials and web services enabled integration tools.

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