* New accounting, procurement, invoice matching, asset management and workflow applications

CODA Financials, Inc., the finance systems specialist, today announced initial details of the release of Neon, its new and enhanced product set. Project Neon, a development programme representing nearly 100 man-years of work and an investment of around $10m, is CODA’s biggest and most significant product release ever.

Neon includes:

* CODA’s web browser architected, web-services-enabled, international accounting system, CODA-Financials. This has additional new features to further improve its state of the art user environment technology, enhancing usability and security, as well as intercompany accounting, cost control and other functions.
* A brand new web browser architected procurement system developed from the ground up. It features unique collaboration technology and integration with Microsoft Office, and will work with any ERP or finance system.
* A new, high-volume invoice matching system that will work with any ERP or finance system.
* A new workflow system that controls processes across CODA’s transactional products and beyond.
* An asset management system with enhanced international capabilities.

Commenting on the release, Steve Pugh – CEO of CODA Financials, Inc. – said: “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; and a range of other transactional systems including world-class, high-volume invoice matching and asset systems. This further establishes CODA’s leadership in finance syste s for mid-market and enterprise-level organizations, and makes us a serious contender in the global procurement systems market.”

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. An extensive Beta test programme is currently underway with the product set being tested by customers around the world.

Debbie Ashton, CODA’s head of product management, said: “We’ve developed a very impressive new product set. Neon has a user interface and application platform that offers state-of-the-art control and visibility, alongside the ease of use and flexibility to help organisations drive efficiency and improve effectiveness in their day-to-day operations.”

Among the clients beta-testing the Neon product set is Debenhams, one of the UK’s largest retailers. Michael Conway, finance manager at Debenhams, said: “The integration with Microsoft Office makes the procurement features immediately familiar for users and therefore easy to use. It finally realises the ideal of a totally managed enterprise-wide procurement system and provides a very flexible platform for integrated financial and procurement processes that seems to be well ahead of the competition. The new Purchase Invoice Matching features build on this and could form an important part of a ‘procure-to-pay’ business process.”

CODA’s solution set supports the standard finance processes across an organisation, including purchase-to-pay and invoice-to-cash supported by full collaboration facilities and workflow management