Solutions for the Financial Services sector

Informed decision making

Any internal financial accounting software adopted by organisations in the Finance industry needs to have a number of key capabilities. It must: be fast, powerful and scalable; be linked company-wide; provide a powerful data repository from which information can be retrieved anytime, anywhere, in any configuration; and be capable of analysing, forecasting and leveraging data to enable the user to stay ahead of the competition. And, it must be able to support global operations.

Our best-of-class Coda solutions are designed to enable fast-moving organisations, such as those operating in the global Financial Services industry, to leverage real-time financial information to increase their competitive advantage. With Coda at the heart of the enterprise, finance organisations can improve decision-making, intelligently plan for changes in the market and streamline company process both internally and externally. UNIT4 has a proven track record of success in this sector, and is already working with hundreds of financial services organisations worldwide.

International scope

By the very nature of their business, many financial service organisations handle large volumes of currency transactions, so it is absolutely crucial that they are able to consolidate in whichever currency they choose, handle multiple currencies simultaneously and report comprehensively in any number of currency combinations.

Coda’s core Financials solution is multi-everything (currency, lingual, cultural, company) and is certified fully euro-compliant - making it flexible enough to cope with the different accounting and business practices of financial service markets internationally, while supporting local reporting and taxation requirements.

Coda gives financial services organisations the international scope that they require in their back office. Financials enables sub-analysis of accounts payable accounts, speeding reconciliation. It also includes full international features, including comprehensive multi-currency capabilities, enabling users to take full control of accounts operating in more than one currency - a vital facility in today’s international market.

Powerful analysis capabilities

The trend in financial services is towards customer focus – identifying the customers that are profitable and those that are not. Organisations are therefore investing heavily in technology that can provide this level of analytical resolution and that can enable them to stay ahead of the competition. Coda enables financial services companies to move towards real-time information access and manipulation, with head offices summarising and utilising the huge amount of information coming from branches quicker than ever before. Large customers can conduct millions of transactions per month, and Coda provides them with the power and scalability to cope easily.

Global finance organisations must be able to hold trading accounts at the level of an individual account, keep track of incoming and outgoing monies and analyse performance at this micro-scale, as well as across whole product lines. They generally need to summarise sales and account information and perform sophisticated performance analysis on the resulting reports, enabling management to ascertain exactly which products and channels to market are most profitable, predict future trends and plan future strategies.

Financials’ flexible General Ledger feature is an essential tool for the Finance industry. It allows an organisation to tailor its solution to the precise way it operates, and provides an environment in which users can mould and evolve new lines of business and new products and services. The software permits an unrivalled number of dimensions (each of variable length) and unlimited account grouping and hierarchies, providing performance and profit analysis capabilities at whatever level is required.

Powerful interfacing capabilities

The Finance industry is very diverse, spanning from small companies to global enterprises. The applications and financial systems used in the industry are consequently very diverse also - many run a multitude of applications across a large number of branches, and require a seamless, secure interface between these and their higher level reporting and analysis facilities.

A key capability of Coda software is that it provides an interface between these diverse systems - bridging the gaps between applications and enabling users to collate and add value to account and financial information. This is provided by the Coda Link architecture, which provides the tools required for getting data in and out of Financials regardless of database, operating system and/or application - offering a ’single worldview’ system that increases connectivity and efficiency.

Coda Financials’ unified or single database structure also improves information availability, assisting companies in maintaining a competitive edge. Within a single database, once a transaction has been completed, the financial effect is instantly reflected across all dimensions and systems. As all data is in balance and is held in one repository, an organisation is able to obtain an immediate, up-to-date picture of its financial position.