CODA Reinforces Strength in Mid-market Financials with New Dream Release

Result of significant development investment over two years. Integrated reporting, browser based procurement and new sales order processing functionality. Meets legislative requirements for CIS taxation changes.

Harrogate, United Kingdom, March 02, 2007 --( CODA plc, the finance systems specialist, today announced the availability of the latest version of its Dream software, the best-of-class unified ledger accounting system for mid-market and growing businesses.

Version 3.3 of the software is the result of significant research and development investment over two years resulting in new and more advanced product and technical features based on the latest technology. Functional enhancements include integrated sales order processing, improved browser-based procurement, a new DreamView reporting tool and technical support for new Construction Industry Scheme (CIS) tax changes.

The latest browser-based procurement function in version 3.3 will speed up and simplify the whole purchase to pay cycle from raising the initial requisition through to central invoice matching and payment. As well as reducing costs by providing fast, controlled access to key procurement functions, Dream helps deliver accurate budgetary control over expenditure, ensures full validation of requests against specified business criteria, offers full support for commitment accounting and rounds off the process with invoice payment and posting of completed transactions into the purchase ledger.

In response to customer feedback, CODA has made significant developments to its DreamView tool in this release, the add-on reporting tool for Dream. Using Microsoft .NET technology, it has been re-written to interface directly with Dream enabling two-way communication for reporting of information and feeding data, including report changes and updates, back into the software database.

Dream 3.3 will help companies comply with the new HM Revenue & Customs’ changes to taxation for contractors and subcontractors, commencing in April 2007. Users will be able to keep records of sub-contractors they employ within their finance software, their different tax status and any payments made to them showing any tax deductions. CODA has already enabled some customers to start using the new software in preparation for these changes.

CODA will be exhibiting at the Softworld Accounting & Finance show at the Novotel London West in Hammersmith, London on March 6th and 7th 2007.

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 with their business applications.

CODA was founded in 1979, has around 550 employees working from 14 global locations, and is listed on AIM in London under the ticker “CODA”. 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