CODA Announces Global Order From Baring Asset Management.Business Editors LONDON--(BUSINESS WIRE)--Sept. 20, 2001 - CODA-Financials to be used in Hong Kong, London, Tokyo and Boston - Licensing agreement for 40 concurrent users CODA (1) A distributed file system developed at Carnegie Mellon University in the late 1980s. Evolving from the Andrews File System, Coda is noted for its ability to withstand network failures. See AFS. (2) A software company based in the U.K. Group, a leading global provider of financial accounting and procurement software Procurement software is business software that helps to automate the purchasing function of organizations. Activities including raising and approving purchase orders, selecting and ordering the product or service, receiving and matching the invoice and order, and paying the bill is , has announced a (pound)235,000 order from Baring Asset Management - the global investment management company and part of the ING Group ING Groep N.V. (NYSE: ING, Euronext: INGA) (known as ING Group) is a financial institution of Dutch origin offering banking, insurance and asset management services. ING once stood for Internationale Nederlanden Groep. , one of the world's largest providers of integrated financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . Baring will use the best-of-class CODA-Financials solution to manage its finance operations in London, Hong Kong, Tokyo and Boston, with information available for 40 concurrent users. When fully live, this will provide Baring, for the first time, with centralised company reports and enterprise-wide analysis from its London HQ, for complete, realtime financial intelligence. Baring previously had a single finance application, which had separate isolated databases for each of the global offices. CODA-Financials will provide Baring with a globally consolidated central database of all its financial information while delivering powerful capabilities to analyse individual operations in each country. This will allow the company to drill-down to any level, to comprehensively analyse all dimensions of the business through to each department's performance and profitability. "CODA-Financials is a multicurrency and multicompany solution, providing us with the comprehensive financial intelligence we need to make key business decisions," said Julian Swayne, CFO See Chief Financial Officer. , Baring Asset Management. "We are a truly global company, and as such the solution's global financial capabilities cover our requirements for the present and foreseeable future. By implementing CODA-Financials, we have a clear realtime view of the business across all regions - regardless of the country or currency the separate business operations trade in." About CODA CODA is a leading global provider of Internet-architected business intelligence, accounting and procurement software that provides the financial intelligence needed to make business-critical decisions. More than 2,000 companies worldwide use CODA solutions to maximise value in Business-to-Business and Business-to-Consumer environments including IKEA IKEA Ingvar Kamprad Elmtaryd Agunnaryd (Swedish home furnishings retailer founder's initials and location) , UUNet, Gerling Insurance, easyJet, Virgin Retail and P&O. CODA is headquartered in the UK, has global sales, service and support operations and employs 400 people worldwide. CODA's parent company, Science Systems Plc, is listed on the Alternative Investment Market of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. (stock symbol: SSY SSY Simpson Spence Young (Hong Kong shipbrokers) SSY Siddha Samadhi Yoga SSY Scottish Socialist Youth ). http//www.coda.com Full release www.iba-europe.com/coda/baring.html Picture www.iba-europe.com/baringpicture.jpg |
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