All About Accounting Software

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October 2, 2009

Sleidrecht and San Francisco, September 30, 2009 – Unit 4 Agresso (NYSE Euronext: U4AGR), parent company of financial software specialist CODA has announced that it has joined forces with salesforce.com (NYSE:CRM), 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 unique accounting applications in the cloud that give finance professionals and CFOs the efficiency, success and confidence they desire. 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 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 world class 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. George Hu, Executive Vice President, Marketing and Alliances at salesforce.com, Chris Ouwinga, Chairman and CEO of Unit 4 Agresso, Edwin van Leeuwen, CFO of Unit 4 Agresso and Jeremy Roche make up the FinancialForce.com Board of Directors.

Jeremy Roche, CEO for FinancialForce.com, 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 will revolutionize the future of accounting by delivering a cloud computing application that helps companies get real-time insight into data from across customer services, sales and accounting, giving a complete view of the business position at a time when cash flow has never been more important.

FinancialForce.com customer Sallie Kennedy, CFO for Compliance Team, Inc., said: “Since selecting FinancialForce.com we have benefited from the improved efficiency and agility that cloud computing delivers. In addition, we have cost effective, real-time access to FinancialForce.com’s best in class financial management capabilities but without the headache of owning, managing and maintaining the software ourselves. We can access business critical financial information at anytime and from any Web-enabled device and can act on the information quickly and decisively. We also have peace of mind knowing that FinancialForce.com is built on salesforce.com’s infrastructure so our data is secure.”

George Hu from salesforce.com, said: “FinancialForce.com’s mission is to create applications that make the finance department as successful as sales and service teams are with salesforce.com. That means creating and delivering the world’s only finance applications that are as easy to deploy and use, and as customizable and trusted as Salesforce CRM. Together with Salesforce CRM, FinancialForce.com gives existing salesforce.com customers one solution for the front and back office delivered on the Force.com platform.”

FinancialForce.com – Revolutionizing the Future of Accounting with Cloud Computing

FinancialForce.com provides rich functionality for businesses around the world:

    A complete accounting application; featuring general ledger accounting, user defined budgets and spreadsheet integration, full accounts payable, accounts receivable and invoicing
    Multi-currency and multi-company support; allowing organizations to manage accounts across different countries, divisions and companies
    Support for global accounting and reporting requirements; reducing concerns about meeting the specific reporting and tax legislation of different countries
    Real-time accounting; all ledgers are instantly updated to deliver real-time financial data and ensuring the system can never go out of balance
    Quick to implement; with no infrastructure to worry about, businesses can be up and running in hours or days
    Scalable; no matter what size the business today or in the future, the product will be able to support the management of cash flows, debtors and creditors
    Access anywhere; because FinancialForce.com is accessed via the cloud, businesses can access their accounts from anywhere that has an internet connection, without the need to acquire and maintain servers, so deployment is fast and cost effective
    Predictable license fee; with no infrastructure and maintenance fees to worry about, a business just has to pay a regular subscription based license fee
    Robust and secure; because FinancialForce.com is built on the Force.com platform, customers benefit from the reliability, security and availability of salesforce.com’s proven real-time infrastructure.

Pricing and Availability

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 5 per user per month. To order, or for more information, please visit: http://www.FinancialForce.com.

About FinancialForce.com – www.financialforce.com

FinancialForce.com aims to revolutionize the future of accounting by doing for finance what salesforce.com has done for CRM. It delivers unique cloud accounting applications that give accountants and CFOs online, real-time financial information, always in balance and always up to date. This gives them a better understanding of their business, with the confidence of reliable figures, from secure systems, looked after for them by the world’s most trusted enterprise cloud computing platform.

FinancialForce.com is backed by Unit 4 Agresso (parent company of accounting software specialist CODA) and salesforce.com. It combines CODA’s 30 years of designing and building financial applications, with the salesforce.com platform’s decade of dependability, availability and security.

The result is a range of revolutionary cloud computing applications, including FinancialForce Accounting – a full Software as a Service (SaaS) accounting application, delivered on a subscription basis; the first international SaaS accounting system developed on salesforce.com’s cloud computing platform, Force.com.

About Unit 4 Agresso – www.unit4agresso.com

Headquartered in Sliedrecht, the Netherlands Unit 4 Agresso was founded in 1980. Today, Unit 4 Agresso is the 4th largest mid-market ERP solution provider in the world according to analyst IDC (2008). It develops, sells, implements and supports business software for running, managing and optimising a wide range of private and public sector organizations across the globe. The group has 3,500 staff in offices across 14 European countries and 5 countries outside Europe, from where it supports customers and partners in all regions of the world. It is publicly quoted on the NYSE Euronext Amsterdam (U4AGR).

About salesforce.com

Salesforce.com is the enterprise cloud computing company. The company’s portfolio of Salesforce CRM applications, available at http://www.salesforce.com/products/, has revolutionized the ways that companies collaborate and communicate with their customers across sales, marketing and service. The company’s Force.com platform (http://www.salesforce.com/platform/) helps customers, partners and developers to quickly build powerful business applications to run every part of the enterprise in the cloud. Based on salesforce.com’s real-time, multitenant architecture, Salesforce CRM and Force.com offer the fastest path to customer success with cloud computing.

As of July 31, 2009, salesforce.com manages customer information for approximately 63,200 customers including Allianz Commercial, Dell, Dow Jones Newswires, Japan Post, Kaiser Permanente, KONE, and SunTrust Banks. Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol “CRM”. For more information please visit http://www.salesforce.com, or call 1-800-NO-SOFTWARE.

Copyright (c) 2009 salesforce.com, inc. All rights reserved. Salesforce and the “no software” logo are registered trademarks of salesforce.com, inc., and salesforce.com owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.

About CODA – www.coda.com

CODA was founded in 1979 and has around 500 employees working at 18 offices in 14 countries. It creates, markets and implements a comprehensive 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 with their business applications.

CODA software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations. It is used by around 2,600 medium and large organizations in more than 100 countries in a variety of markets and within both public and commercial sectors. CODA is a Unit 4 Agresso company.

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Major International Software Vendor Launches Cloud Accounting Service to Australian Market

London and Boston July 17, 2009

CODA, the UK headquartered award winning accounting software specialist, today launched CODA 2go, a cloud based accounting package to the Australian market. Aimed at businesses from one user upwards, CODA 2go is the first accounting solution to be built entirely on Force.com, salesforce.com’s leading enterprise cloud computing platform, and to seamlessly integrate with the salesforce sales and service clouds.

The launch coincides with research unveiled by CODA today that shows Australian businesses lack control of their cashflow and only 10% have had any success in improving payments from debtors. In a survey of 100 CEOs and business owners, 63% of respondents said they have no idea of the state of their cashflow, have a vague idea or admit it should be better. It also revealed that typical business owners are time poor with 40% saying that doing the books is something that gets done at the weekends or in the evenings.

When asked about using a cloud based accounting package, the survey revealed openness to the concept – less than a third (30%) said they had any reservations about using an online accounting package.

Jeremy Roche, CEO of CODA, said: “This research and conversations we’ve had with businesses shows that the Australian market is incredibly open to the concept of cloud accounting and managing their business accounts in an on-demand environment, so it makes perfect sense to us to bring CODA 2go to Australia. With our knowledge of financial management and accounting solutions and building on salesforce.com’s success in Australia, we are confident of the market opportunity open to us.”

“The fact that so many respondents are not prioritizing time to get on top of accounts suggests Australian business owners are time poor. The survey also showed that 40% lack any automated processes to help manage their business, instead relying on spreadsheets or paper and pen. An easy to use, cost effective and functionally rich accounting tool is just the tonic.”

CODA 2go available today

CODA 2go is available for all businesses in Australia. As an added benefit for those using, or contemplating Salesforce CRM, it provides seamless integration allowing 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. It will help companies get insight into data from across customer services, sales and accounting, giving a complete view of the business position at a time when cash flow has never been more important.

CODA 2go offers an additional choice for organisations looking for best of class financial management without the time and resource costs associated with more traditional on-premise software implementations.

CODA 2go provides rich functionality for Australian businesses:

    A complete accounting application; featuring general ledger accounting, user defined budgets and spreadsheet integration, full accounts payable, accounts receivable and invoicing
    Multi-currency and multi-company support; allowing organisations to manage accounts across different countries, divisions and companies
    Support for global accounting and reporting requirements; meaning there are no concerns about meeting the specific reporting and tax legislation in Australia
    Quick to implement; with no infrastructure to worry about, businesses can be up and running in hours/days
    Scalable; meaning that no matter what size the business today or in the future, the product will be able to support the management of cash flows, debtors and creditors
    Access anywhere; because CODA 2go is accessed via the cloud, businesses can access their accounts from anywhere that has an internet connection and with no servers to acquire and maintain, deployment is fast and cost effective
    Predictable license fee; with no infrastructure and maintenance fees to worry about, a business just has to pay a regular subscription based license fee
    Robust and secure; because CODA 2 go is built on salesforce.com’s Force.com platform, it comes with the same levels of assurance and security being enjoyed by the likes of Cisco and St George bank
    Available to all; CODA 2go is available to salesforce.com customers as well as non-salesforce.com customers

Early Australian customer success

One customer already benefiting from CODA 2go is technology consultancy firm, Quattro Innovation Group Pty Ltd, based in Sydney.

David Tan, Director of Operations, said: “We first came across CODA 2go on salesforce.com’s AppExchange and decided to take advantage of the free trial. I am a qualified accountant and was impressed with the rich functionality on offer within CODA 2go and, being based on the Force.com platform, allows us to seamlessly integrate with our Salesforce CRM, staying aligned with the aim to run all our business applications on the cloud.

“We were looking for a system that did not require any server hardware, with an intuitive interface and that we could implement ourselves. CODA 2go proved to be the stand-out product available, whilst saving us money and ensuring scalability as our business grows. All in all, CODA 2go is providing us with best in class financial management capabilities hosted and managed in the cloud – it provides a nice synergy with how we run our business and what we communicate to our customers.”

A free 30 day trial of CODA 2go is available from http://www.coda2go.com.au and will be supported locally by Australian SaaS consultancy and salesforce.com partner Sqware Peg.

Shawn Stilwell, CEO, Sqware Peg said: “We’re seeing a lot of demand from customers and prospects to run more of their business in the cloud, especially as they look to upgrade from legacy business software. CODA 2go is a really attractive offering for them, bringing proven, enterprise class functionality and reliability to businesses of all sizes.”

Steve Lucas, senior vice president of Force.com and Alliances, salesforce.com said: “The Force.com platform provides a great opportunity for ISVs to build applications and services and create a frictionless route into new markets. The power of the platform to deliver real-time functionality without the need for additional infrastructure makes for a compelling offering and it’s really reduced the barriers for CODA to launch into Australia.”

About the survey

The survey was commissioned by CODA and carried out by Pure Profile. It surveyed 100 small business owners and CEOs in businesses with less than 50 staff.

Pricing and availability

CODA 2go can be accessed from http://www.coda2go.com.au and is available today. It costs businesses an introductory price of AU0 per user, per month, with read only access available for AU per user, per month. The read only version allows sales teams and execs to get instant visibility into their customer account history and other information they may need to make more informed decisions.

A free 30 day trial is available from http://www.coda2go.com.au

About CODA

CODA was founded in 1979 and has around 500 employees working at 18 offices in 14 countries. It creates, markets and implements a comprehensive 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 with their business applications.

CODA software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations. It is used by around 2,600 medium and large organisations in over 100 countries in a variety of markets and within both public and commercial sectors.

For more information please visit: http://www.coda.com

About CODA 2go

CODA 2go is CODA’s new SaaS accounting application designed to deliver high functionality accounting on a subscription basis. It is the first international SaaS accounting system developed on salesforce.com’s cloud computing platform, Force.com

For more information, please visit: http://www.coda2go.com.au

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