London October 4, 2001 Baring Asset Management, a global investment management company that is part of the ING Group, a provider of integrated financial services, has selected CODA-Financials, offered by New Hampshire-based CODA, to manage its finance operations in London, Hong Kong, Tokyo and Boston. When fully live, this will provide Baring, for the first time, with centralized company reports and enterprise-wide analysis from its London HQ, for complete, real-time financial intelligence.
Baring previously had a single finance application, which had separate, isolated databases for each of the global offices. CODA-Financials will now provide Baring with a globally consolidated central database of all of its financial information, while also delivering capabilities to analyze operations in each country on an individual basis. This will allow the company to drill-down to any level, through to each department's performance and profitability, in order to comprehensively analyze all dimensions of the business.
CODA-Financials is a multi-currency and multi-company solution, providing us with the comprehensive financial intelligence we need to make key business decisions, said Julian Swayne, CFO, Baring asset management. By implementing CODA-Financials, we have a clear, real-time view of the business across all regions regardless of the country or currency the separate business operations trade in.
Graham Steinsberg, CEO, CODA, said, CODA-Financials is ideally placed to address major global organizations, increasing requirement to implement financial solutions worldwide. As a supplier, we are finding that this is becoming a key requirement of accounting solutions and CODA is extremely strong in this respect.