Unit 4 Agresso, the parent company of financial software specialist CODA has joined forces with salesforce.com, the enterprise cloud computing company to create FinancialForce.com, a new company that delivers finance and accounting applications in the cloud. Both Unit 4 Agresso and salesforce.com are investing in FinancialForce.com, which leverages CODA’s cloud accounting application formerly known as CODA 2go, which has been transferred into the new company.
FinancialForce.com aims to change the future of accounting and finance by delivering accounting applications in the cloud that give finance professionals and CFOs the efficiency, success and confidence they desire. It is believed to be the first move by a major supplier to put high end financial application on a cloud computing platform. In an exclusive interview with FSN, David Turner, Group Marketing Director, confirmed that CFOs would appreciate the combination of two well respected brands in the market compared to the many start up accounting ventures in the cloud. The decision to rebrand from CODA 2go to FinanceForce was to give the product a more entrepreneurial feel, allow external investment by Salesforce.com and to take advantage of a more specialized product positioning. An in-depth video report with David Turner will be available later this month on FSN.
Built on salesforce.com’s enterprise cloud-computing platform, Force.com, FinancialForce.com offers accounting solutions delivered via the cloud for both salesforce.com and non-salesforce.com customers alike.
FinancialForce.com, says CODA, delivers the power of a real-time, enterprise accounting system to organizations of all sizes. It will support such businesses as they evolve, expand and outgrow more traditional accounting systems while offering all the benefits of cloud computing including ease of implementation, rapid return on investment and reduced cost and complexity. FinancialForce.com’s rich functionality is built using CODA’s 30 years’ experience in designing and building financial applications combined with the security, reliability and availability of salesforce.com’s trusted real-time Force.com service infrastructure.
The CODA 2go team and products have transferred to FinancialForce.com, which will be run from the company’s new corporate headquarters in San Mateo, California as well as from its EMEA headquarters in Harrogate in the UK. FinancialForce.com already has established sales, pre-sales and support teams in North America and the UK to take the new solution to market. Salesforce.com will provide first line support for FinancialForce.com, giving customers of both Salesforce CRM and FinancialForce applications a single consistent point of contact. Jeremy Roche, CEO of CODA, has been appointed President and CEO of FinancialForce.com.
Jeremy Roche commented: “In establishing FinancialForce.com we are revolutionizing the future of accounting. FinancialForce.com will do for finance and accounting what salesforce.com has done for CRM. We are enabling customers of all sizes to choose accounting as part of a broader, integrated cloud computing solution and giving them the power of enterprise accounting without the pain of owning the software themselves. As a pioneer on the Force.com platform, CODA has worked closely with salesforce.com while developing and launching CODA 2go. We believe that having a native solution built on the Force.com platform will give us a significant competitive advantage when selling to salesforce.com customers and is key to our go to market strategy.”
For customers using or evaluating Salesforce CRM, FinancialForce.com comes with an unequalled level of integration between its accounting functions and salesforce.com’s Sales Cloud and Service Cloud. This allows users to make the most of customer relationships - from making initial contact to ensuring smooth accounting processes and accurate invoicing, right through to the ongoing customer relationship. For non-Salesforce CRM users, FinancialForce.com offers a new choice of a comprehensive accounting solution built around salesforce.com’s enterprise cloud-computing platform.
FinancialForce.com is now available to salesforce.com customers as well as non-salesforce.com customers. Pricing for the current release of FinancialForce applications starts from $125 per user per month.
