CODA today unveiled
‘Project Neon’, a launch the software group has described as its ‘most
significant product release ever’.
The new product, in which Coda has invested £6m and 100 ‘man-years’ of work,
The product will also offer a new web browser architected procurement system
developed from the ground up. This will feature collaboration technology and
Office , and will work with any ERP or finance system.
An invoice matching system, a new workflow system and an asset management
system will also be provided.
‘Neon gives clients the most technologically and functionally advanced
financial accounting system in the world today. A state-of-the-art spend
management system that will bring control and efficiency to the procurement
process,’ said CODA chief executive Jeremy Roche.
Neon will be launched in May and unveiled at events across the world through
June. The first customer implementations will be live by the end of the year. A
Beta test programme is currently underway.
CODA tied in the
announcement with the release of its results for the year to 31 December 2006.
Revenues rose 5.7% from £50.6m in 2005 to £53.5m in 2006. Profit before tax
was down from £7.1m to £6.8 as a result of a £1m charge for non-recurring costs
in respect of payments from the employee share trust.
CODA’s share price was 2.28% up at 1,100p in early morning trade.
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