Software group’s vital role in helping to protect companies

UNIT4, the business software and services company, has launched a financial management software, Coda Financials – Destination: Control.

According to UNIT4, which has an office in Harrogate, the new software will help bosses to manage their risks and costs more efficiently.

As a result, they are less likely to fall victim to fraud.

UNIT4, which is based in Sliedrecht, in the Netherlands, has more than 4,000 staff.

David Turner, group marketing director at Unit4, said the new financial software would strengthen the company’s market position.

He added: “We are increasingly seeing demand for services that offer improved control over financial and management information.

“This latest release provides customers with greater insight into the financial data they generate and the ability to report that information in greater detail and depth.

“This all ensures that the decisions a business makes about its direction and future are based on accurate and timely financial information.

“We have around 200 people based in our Harrogate office.

“Of that number the research and development team, which has around 86 staff, were instrumental in delivering CODA Financials – Destination: Control.

“Coda’s roots are firmly in Harrogate but now it is part of a global software business.”

Brian Sommer, the president of industry analysts Vital Analysis, said: “No CFO wants to be on the cover of the Financial Times or BusinessWeek explaining away their recent earnings or fraud fiasco.

“At the root of most of these matters is a serious breakdown in controls and trust.

“It’s human nature to be trusting but better businesses rely on more. They’re the ones that have the great processes, systems and oversight.

“They’re also the ones delighting Wall Street.

“Smart CFOs want more from accounting software than just debits and credits.”

UNIT4 has operations in 17 European countries, as well as clients in North America, Asia Pacific and Africa.

Its total revenue was 421.7 million euros in 2010. In the UK, the company focuses on the public sector, where it is a major provider of software systems to local government as well as having a “considerable presence” in the emergency services and health sectors.