CODA and Corefino Partner on Breakthrough Cloud Computing Accounting Service
CODA and Corefino, two of the accounting world’s most innovative technology companies, have joined forces to give mid-market chief financial officers (CFOs) a powerful new low-cost alternative to the traditional on-premise software model offered by the ‘Big 3’ enterprise resource planning (ERP) giants.
The new three-part accounting service, called Corefino 2go, combines the CODA 2go accounting package, built on the Force.com cloud computing platform, with Corefino’s Triple-C Technology Platform and experienced, outsourced accounting staffs.
The cloud-based solution is available immediately via monthly subscription service, can be deployed in a month or less and requires only an internet connection to access data and download reports.
The partnership combines UK-based CODA’s three decades of experience delivering best-of–class financials to organizations around the world with the turnkey People-Place-Platform solution of Silicon Valley-based Corefino, formally launched in May 2009. By joining forces with CODA, Corefino will maximize the power of its unique Triple-C (Connect, Correct and Comply) framework, which comprises more than 500 airtight, self-contained best practices and key business processes across the finance function.
“The Corefino People-Place-Platform approach gives mid-market CFOs an unbeatable strategic advantage, extricating them from the daily routine that keeps them from focusing on their key objectives,” said Karen Watts, CEO, Corefino. “That’s why we call it the CFO’s Strategic Accelerator. This partnership with CODA uses cloud computing, business process outsourcing and Web portal technology to deliver a breakthrough service for companies in the mid-market. There is nothing at all remotely like it available on a monthly subscription basis.
“Before founding Corefino, I was a CFO myself. I’m well aware that routine accounting is a high-touch, people-resource-heavy, technology-centric function that adds zero value to a company’s strategic mix. What we are saying is, ‘Give it to us – we are experts at this. Spend your technology and people resource money elsewhere on activities and strategies that are going to take your company to the next level.’”
Through their partnership, CODA and Corefino will deliver a wide range of benefits to mid-market enterprises including:
key business processes and applications implemented, managed and maintained by specialists leaving the company free to focus core business activities
reduced reliance on internal and frequently scarce IT and administrative resources so that organizations can ensure their people are working on more strategic business processes
a cost-effective means to access a best-of-breed finance system, delivered via the internet and charged on a per-user, per-month subscription basis
ability to benefit from affordable business process outsourcing
rapid deployment and return on investment
secure anytime, anywhere access to financial data for a complete view of business performance
none of the issues related to on-premise software, such as ongoing maintenance, post-implementation changes or system upgrades.
“This announcement could not have come at a better time,” said Jeremy Roche, CEO, CODA. “Companies around the world are trying to streamline their operations while keeping up best practices and maintaining access to the highest-quality financial data, which they absolutely need to make good business decisions. We’re seeing the result of that in the strong demand for our cloud-based accounting software, CODA 2go, where we already have customers in six countries and three continents and a healthy pipeline of opportunities.
“By partnering with Corefino, we’ll be able to reach new markets in an even more powerful way. We are combining the leading enterprise cloud computing platform in Force.com with CODA’s best-of-breed financials and Corefino’s best practices to deliver an entire family of accounting and financial solutions completely in the cloud – something we believe no one else is offering to the mid-market. It is very exciting to lead the way in what we see as a significant and market-changing development.”
“CODA and Corefino’s partnership will help mid-market companies achieve cost savings and business efficiencies by moving their routine accounting operations into the cloud,” said Steve Lucas, senior vice president, Force.com marketing and alliances, salesforce.com. “Corefino 2go customers will get the advantage of CODA’s first-class accounting solution, as well as Corefino’s Triple-C business processes framework and experienced staffing. At the same time, they will benefit from running their financials on the trusted, secure Force.com enterprise cloud computing platform.”
