Back in September last year, CODA’s CEO Jeremy Roche stood on stage at Dreamforce, Salesforce.com’s annual user conference in San Francisco and announced that we would develop a world class accounting system on Force.com. It was a big moment for us, and around the world we quickly met the question – why partner? And why Salesforce?
What we launched that day was a strategic partnership to develop a new, on demand financial management application, called CODA 2go. It will be aimed at organizations of around 25 employees and above, and will take the best of CODA’s existing design including the unified ledger and multi-everything capabilities.
You can see from our developer blogs on this site that we’re well under way with the development and making great progress. Which partly answers one of the questions – we partnered because we felt that was the best way of producing a proven, robust architecture that was designed specifically for the SaaS market – in an acceptable timeframe.
We could have developed our own SaaS framework, but that would have taken a significant time and would, by definition, not have been proven. This way we can focus on delivering the proven world-class design and functionality of CODA’s Financials, in a proven SaaS environment.
We chose Salesforce because they are the market leader in SaaS applications – they’ve been doing this for over 7 years and with more than 33,000 clients at the time (now over 38,100) can certainly be said to be a proven, robust platform. And of course, those clients represent an obvious target for CODA 2go – having used SaaS applications for CRM, they are most likely to adopt SaaS financials – indeed, they are demanding on-demand accounting systems right now!
What is exciting for those users, is that what CODA offers in this market is unique. For a start, we have a 27 year track record of designing and building international finance systems. We have a strong, profitable and growing business in the non-SaaS market, so we don’t face the pressures that the start-ups in this market do – even those that started up some years ago are struggling to grow user base and, importantly, to make money.
Our unified ledger and international capabilities are also a powerful differentiator, and delivering those in a SaaS environment will certainly provide a challenge to others in this market.
Which has to be good news for everyone!