Coda buys Sarbox software

Coda has purchased a Sarbanes-Oxley/controls evaluation tool, as it looks to
continue to extend its product range beyond core finance.

The tool, known as SOCET, enables web-based internal controls documentation,
evaluation, monitoring and project management, and is designed to facilitate
Sarbox compliance. It will be bolted onto Coda’s current process management
software.

The product was purchased from US software company Control Solutions, and
both companies have entered into an agreement to develop more compliance
software in the future.

‘The next challenge is “making SOX stick”, turning the near-impossible
project into a practical and sustainable process,’ said Frank Edelblut,
president of Control Solutions.

‘We believe Coda-Control is the best solution for making SOX compliance
sustainable for the long haul.’

Jeremy Roche, CEO of Coda, said that the alliance was a ‘key element’ in
Coda’s plan to become a ‘leading innovator’ in the field of compliance systems.