Olaer selects OCRA from CODA to improve financial management and group reporting
23rd October 2006 Olaer Group, has purchased OCRA a financial consolidation and management reporting solution from CODA plc, the financials software house. The Olaer Group, a UK based company, comprising 26 companies around the world and a market leader in the design and provision of coolers and hydropneumatic accumulators plans to use OCRA as a central repository for financial data across the group, to provide more local and Group control and enhance visibility of the performance of each subsidiary and of the Group as a whole.
“Our old system was difficult to use and wasn't well supported, so information across the group was fragmented,” said Richard Knill, Group Financial Controller at Olaer. “CODA convinced us that OCRA could be implemented quickly, with little disruption and would be fully supported internationally. With local controllers able to access the central system from every location, our financial information will be kept up to date and our reports more timely and accurate. It also allows for us to account in Euros for management reporting and GBP for statutory reporting, so we're confident we'll save a lot of time and have a first class reporting regime as a result.”
