CODA in Software Deal with Leading Vehicle Remarketing Business

Harrogate, United Kingdom, August 22, 2006 --( CODA Group, the finance software specialist, today announced that the UK and European arm of Manheim, the world’s largest vehicle remarketing business, has signed a contract worth more than £200,000 in software and services, for CODA-Financials, the best-of-class accounting software.

CODA was chosen over competitive products Sun Accounts and Microsoft Great Plains as it fitted with the IT strategy of the business and met the needs of the users both in the UK, France, Germany and Spain.

Paula Head, Senior Manager of Financial Strategy at Manheim, said: “Our existing system requires upgrading to meet the evolving needs of our group. CODA demonstrated that they could help us improve our accounting through aligning systems and processes across our various businesses. In addition, we think the integrated reporting modules will enable us to streamline a number of key areas.”

CODA will also support Manheim’s inter-company and multi-language requirements and is fully web-service enabled so will easily integrate with other critical business systems. This will generate information processing efficiencies and will allow Manheim to perform more advanced business analysis.

In addition to CODA-Financials and other standard products, Manheim has purchased licenses for CODA-Analytic Explorer, which uses the latest SQL Server 2005 technology from Microsoft for online analysis and modelling. It is a multi-dimensional analysis tool that takes data directly from CODA-Financials and provides key management and information users with cubes of data relevant to their function, giving them browsing, reporting and analysis capabilities quickly, easily and cost effectively.

CODA creates, markets and implements a complete 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 it with their business applications.

CODA was founded in 1979, has around 550 employees working from 13 global locations. CODA software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations, and is used by around 2,600 medium and large organizations in over 100 countries in a variety of markets and within both public and commercial sectors.

Emma Hoyle