JJB Sports to Speed Up Period Close with CODA-Control
Controlled and auditable processes will help meet auditor requirements under IFRS.
Harrogate, United Kingdom, August 22, 2006 --(PR.com)-- CODA Group, the finance software specialist, today announced that leading UK retailer JJB Sports plc, has purchased CODA-Control Manager to help make its financial period close faster and more controlled.
CODA-Control Manager is an innovative software programme that uses simple, Microsoft technology for implementing internal controls and processes, automating them and making them visible, repeatable and auditable across the organisation. It addresses the growing pressure from auditors to show better documented financial processes.
As a publicly listed company, JJB is subject to International Financial Reporting Standards (IFRS) and must communicate any changes likely to affect underlying performance to the wider market place. Its finance team decided to implement CODA-Control to improve its internal processes.
“It is important that our IFRS processes are sustainable over time and that our financial reports are consistent year on year,” said Bill Leyland, Finance Manager at JJB Sports. “CODA-Control Manager will help us control and automate detailed processes in a logical order that we can follow every time, and adapt as necessary. This will give us absolute visibility of our processes, and the confidence that they are being carried out consistently, yet are flexible enough to adapt to ongoing changes in the standards. Crucially, our auditors should be satisfied of that as well.”
Once implemented, this technology will help JJB achieve best practice and compliance with emerging governance legislation. It will cut the cost of documenting and maintaining internal controls.
“In theory, we can apply this technology in any department,” continued Leyland. “In addition to period close, we plan to use it for implementing project management controls, but are restricting it to the finance function in the short term. CODA-Control will help us design and document our processes in a methodical way, so that the overhead of designing, documenting, executing and testing them doesn’t have to be repeated every year.”
CODA-Control Manager integrates directly with JJB’s finance system, Dream, so that real-time financial data including information relating to individual store and department finances can be viewed and attached to tasks in the Control engine. Once processes have been documented, they will be completed in a predefined order by the finance team depending on their individual roles.
ABOUT CODA
CODA creates, markets and implements a complete range of software systems designed specifically to meet the needs of Financial Directors and Finance Departments. These include financial management systems, analysis applications, and business process management and control software to implement compliance solutions. Its service oriented architecture also makes CODA software easy for clients and other vendors to integrate it with their business applications.
CODA was founded in 1979, has around 550 employees working from 13 global locations. CODA software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations, and is used by around 2,600 medium and large organizations in over 100 countries in a variety of markets and within both public and commercial sectors.
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CODA-Control Manager is an innovative software programme that uses simple, Microsoft technology for implementing internal controls and processes, automating them and making them visible, repeatable and auditable across the organisation. It addresses the growing pressure from auditors to show better documented financial processes.
As a publicly listed company, JJB is subject to International Financial Reporting Standards (IFRS) and must communicate any changes likely to affect underlying performance to the wider market place. Its finance team decided to implement CODA-Control to improve its internal processes.
“It is important that our IFRS processes are sustainable over time and that our financial reports are consistent year on year,” said Bill Leyland, Finance Manager at JJB Sports. “CODA-Control Manager will help us control and automate detailed processes in a logical order that we can follow every time, and adapt as necessary. This will give us absolute visibility of our processes, and the confidence that they are being carried out consistently, yet are flexible enough to adapt to ongoing changes in the standards. Crucially, our auditors should be satisfied of that as well.”
Once implemented, this technology will help JJB achieve best practice and compliance with emerging governance legislation. It will cut the cost of documenting and maintaining internal controls.
“In theory, we can apply this technology in any department,” continued Leyland. “In addition to period close, we plan to use it for implementing project management controls, but are restricting it to the finance function in the short term. CODA-Control will help us design and document our processes in a methodical way, so that the overhead of designing, documenting, executing and testing them doesn’t have to be repeated every year.”
CODA-Control Manager integrates directly with JJB’s finance system, Dream, so that real-time financial data including information relating to individual store and department finances can be viewed and attached to tasks in the Control engine. Once processes have been documented, they will be completed in a predefined order by the finance team depending on their individual roles.
ABOUT CODA
CODA creates, markets and implements a complete range of software systems designed specifically to meet the needs of Financial Directors and Finance Departments. These include financial management systems, analysis applications, and business process management and control software to implement compliance solutions. Its service oriented architecture also makes CODA software easy for clients and other vendors to integrate it with their business applications.
CODA was founded in 1979, has around 550 employees working from 13 global locations. CODA software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations, and is used by around 2,600 medium and large organizations in over 100 countries in a variety of markets and within both public and commercial sectors.
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Contact
CODA
Emma Hoyle
44-01-423-537-977
www.coda.com
Emma Hoyle
44-01-423-537-977
www.coda.com
Contact
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