Olaer Selects OCRA from CODA to Improve Financial Management and Group Reporting
Better control and visibility of information across the group. Less time spent in the consolidation process. More time spent on added value analysis
Harrogate, United Kingdom, October 18, 2006 --(PR.com)-- CODA plc, the finance systems specialist, today announced that Olaer Group, has purchased its OCRA solution for group-wide financial consolidation and management reporting.
The Olaer Group is a UK based company, comprising 26 companies around the world and is a market leader in the design and provision of coolers and hydropneumatic accumulators. OCRA was chosen because it could meet Olaer’s reporting and consolidation requirements, was quick to implement and offered an attractive return on investment.
OCRA has the flexibility to support management consolidation reporting requirements, regardless of geography – including allowing remote users to connect without the use of expensive technology. Olaer 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.”
The system provides unparalleled ease of use and releases financial staff, at all levels, to spend more time on value-added analysis. OCRA works with any number of ERP, finance and other business systems and also links to CODA’s best-of-class accounting systems – CODA-Financials and Dream. The solution provides fast and powerful inbuilt reporting and analysis so that users can easily compare actual figures with any previous period or with different versions of budgets and forecasts.
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, and is listed on AIM in London under the ticker “CODA”. 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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The Olaer Group is a UK based company, comprising 26 companies around the world and is a market leader in the design and provision of coolers and hydropneumatic accumulators. OCRA was chosen because it could meet Olaer’s reporting and consolidation requirements, was quick to implement and offered an attractive return on investment.
OCRA has the flexibility to support management consolidation reporting requirements, regardless of geography – including allowing remote users to connect without the use of expensive technology. Olaer 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.”
The system provides unparalleled ease of use and releases financial staff, at all levels, to spend more time on value-added analysis. OCRA works with any number of ERP, finance and other business systems and also links to CODA’s best-of-class accounting systems – CODA-Financials and Dream. The solution provides fast and powerful inbuilt reporting and analysis so that users can easily compare actual figures with any previous period or with different versions of budgets and forecasts.
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, and is listed on AIM in London under the ticker “CODA”. 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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