Harrogate, United Kingdom, September 29, 2006 --(PR.com
)-- CODA Group, the finance systems specialist, today announced that Louvre Hotels has chosen CODA-Financials as its standard financial management software solution in a deal worth approximately €790,000.
The Louvre Hotels group, which is based in France, is owned by Starwood Capital and comprises over 900 hotels and restaurants across Europe under brands including Crillion, Concord, Kyriad, Blue Marine, Campanile and Premier Classe. A small part of the group had previously used CODA-Financials, and when the group decided to standardise its finances on a single system, a short-list of Aneal (GEAC) and CODA was quickly arrived at. After detailed evaluations, CODA-Financials became Louvre Hotel Group’s preferred solution.
Louvre Hotels’ new system will cater for 230 concurrent users in Italy, Spain, Holland, Belgium, Germany, Switzerland, and Poland. The system will be deployed using CODA’s ‘Flexible Deployment’ licenses to maximise return on Louvre Hotels’ investment in a variety of desktop environments. All users will also have the CODA-XL Professional interface to Microsoft Excel spreadsheets. The system will be implemented in Italian, Spanish, Dutch, German and Polish, and will also include CODA e-Billing and the CODA-XMLi interface. The contract was signed on 27th June 2006, and has a total value in excess of €790,000.
Steven Jacobs, President and CEO Louvre Hotels Budget Group, said: “We needed to bring our whole European business onto one financial platform to provide a unified and standardised financial management platform. Our previous experience with CODA in part of our group, together with CODA’s experience of an extensive client base in the industry, led us to conclude that CODA-Financials is the best platform to meet our financial needs.”
Louvre Hotels group expects to roll-out the new system to all key European business units over the course of the next year. The first phase is planned to go live at the end of November 2006 with the rest of the group fully implemented during 2007. Once the system is live within the 9 countries in which Louvre Hotels operates, it will provide simplified consolidation and reporting of the group’s finances, increased visibility for business unit and group managers, and improved accuracy of results and forecasts reported to the Starwood Capital.
CODA creates, markets and implements a complete range of software systems designed specifically to meet the needs of corporate Finance Officers 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.