Accounting firms Coda and Corefino are targeting mid-market Chief Financial Officers (CFOs) with a new online offering built on Salesforce.com's Force.com platform.
The new three-part accounting service, called Corefino 2go, combines the Coda 2go accounting package, built on Force.com, with Corefino’s Triple-C Technology Platform and experienced, outsourced accounting staff. “This announcement could not have come at a better time,” said Jeremy Roche, CEO, Coda. “Companies around the world are trying to streamline their operations while keeping up best practices and maintaining access to the highest-quality financial data, which they absolutely need to make good business decisions. We’re seeing the result of that in the strong demand for our cloud-based accounting software, Coda 2go, where we already have customers in six countries and three continents and a healthy pipeline of opportunities.
“By partnering with Corefino, we’ll be able to reach new markets in an even more powerful way. We are combining the leading enterprise cloud computing platform in Force.com with Coda’s best-of-breed financials and Corefino’s best practices to deliver an entire family of accounting and financial solutions completely in the cloud – something we believe no one else is offering to the mid-market. It is very exciting to lead the way in what we see as a significant and market-changing development.”
The solution is available immediately via monthly subscription service, can be deployed in a month or less and requires only an internet connection to access data and download reports. “The Corefino People-Place-Platform approach gives mid-market CFOs an unbeatable strategic advantage, extricating them from the daily routine that keeps them from focusing on their key objectives,” said Karen Watts, CEO, Corefino. “That’s why we call it the CFO’s Strategic Accelerator. This partnership with Coda uses Cloud Computing, business process outsourcing and Web portal technology to deliver a breakthrough service for companies in the mid-market. There is nothing at all remotely like it available on a monthly subscription basis."
Expertise online
“Before founding Corefino, I was a CFO myself. I’m well aware that routine accounting is a high-touch, people-resource-heavy, technology-centric function that adds zero value to a company’s strategic mix. What we are saying is, ‘Give it to us – we are experts at this. Spend your technology and people resource money elsewhere on activities and strategies that are going to take your company to the next level.’”
Founded in 1979, CODA has 500 employees in 14 countries. Its software is designed for multi-currency, multi-language, multi-country, multi-company and multi-site operations, and is used by 2,600 medium and large organisations in 100 countries. Established in 2004, Corefino works on several SaaS platforms and has partnerships with ADP, EASi, Intacct and others to deliver reconciliation, GAAP-based financials, and other services that facilitate monthly/quarterly/annual closes, IPOs, and mergers.
The new offering is also a further endorsement of Salesforce.com's pitch to make Force.com a development platform for a wider ecosystem of third party on demand offerings. “Coda and Corefino’s partnership will help mid-market companies achieve cost savings and business efficiencies by moving their routine accounting operations into the cloud,” said Steve Lucas, senior vice president, Force.com marketing and alliances, Salesforce.com. “Corefino 2go customers will get the advantage of Coda’s first-class accounting solution, as well as Corefino’s Triple-C business processes framework and experienced staffing. At the same time, they will benefit from running their financials on the trusted, secure Force.com enterprise Cloud Computing platform.”
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