News Article

CODA-XL combines power of CODA-Financials with flexibility of Microsoft® Excel

 

05 June 2003

  • New interface gives best of both worlds to CODA users
CODA (AIM: CSY), the financial and corporate performance management (CPM) software specialist, today announced the launch of its new product, CODA-XL. This provides a two-way bridge between Microsoft® Excel - Microsoft`s hugely popular spreadsheet - and CODA`s award winning enterprise-class financial and CPM products.

Bringing the familiarity of the Microsoft® Excel interface to CODA-Financials provides customers with several benefits, such as reducing training load for end-users of CODA-Financials during implementation. Other benefits include the elimination of transcription errors and file-handling overheads during the transfer of data between CODA-Financials and Microsoft® Excel, and the opportunity to avoid "Islands of Information" - local systems that can often contain great value and insight, but that are locked on individual`s PCs and cannot be shared across the organisation.

However, unlike some similar products from competitors, CODA-XL goes beyond exploiting the familiarity of the user interface and makes use of the success that Microsoft® Excel enjoys as an informal business modelling and planning tool to provide "What If?" scenario testing, with the option of writing back from the spreadsheet to CODA-Financials.

Tim Tribe, product manager at CODA said: "CODA-XL combines the benefits of the most widely used spreadsheet with the power of CODA-Financials. The result has a look and feel familiar to all management accountants whilst retaining the data integrity and discipline that comes from a true enterprise-class financial system. For example, the CODA Security Model is fully embedded within CODA-XL, thus ensuring consistent data security. In addition, the data manipulation capabilities of Microsoft® Excel mean that management accountants can quickly build and model scenarios that can be tested against real data - very useful for creditor and debtor management, customer profitability analysis and ad-hoc queries."

CODA-XL was officially launched in London today and will soon be released for all CODA-Financials and e-Finance users. Price information is available to customers on application.

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