Online accountancy software gets new player: FinancialForce.com
Internet-based accountancy software gets go ahead as two companies put their weight behind new company
Financial software company Unit 4 Agresso and online computing company
Salesforce.com has launched joint venture FinancialForce.com.
Unit 4 Agresso merged with Coda in mid 2008 and created an online package
Coda2Go.
The latest offering will incorporate technology used by Coda2Go and
Salesforce.com to create the new company with Coda’s CEO Jeremy Roche heading up
FinancialForce.com.
FinancialForce.com will have head quarters in California and the UK with most
of the Coda2Go team moving over.
Roche said: “This is the next logical step for Coda2Go as we move to the next
stage of innovation.”
He added that although online accounting and finance software had just 5% of
the market but that analysts have said it is the fastest growing area and the
company wanted to position itself at the forefront.
Agresso will be the majority stakeholder in the new company.
Further reading:
Agresso results show weakened UK market