Released on = October 17, 2006, 7:35 am

Press Release Author = CODA

Industry = Small Business

Press Release Summary = . Better control and visibility of information across the group
. Less time spent in the consolidation process
. More time spent on added value analysis

Press Release Body = CODA plc, the finance systems specialist, today announced that
Olaer Group, has purchased its OCRA solution for group-wide financial consolidation
and management reporting.
The Olaer Group is a UK based company, comprising 26 companies around the world and
is a market leader in the design and provision of coolers and hydropneumatic
accumulators. OCRA was chosen because it could meet Olaer's reporting and
consolidation requirements, was quick to implement and offered an attractive return
on investment.
OCRA has the flexibility to support management consolidation reporting requirements,
regardless of geography - including allowing remote users to connect without the use
of expensive technology. Olaer plans to use OCRA as a central repository for
financial data across the group, to provide more local and Group control and enhance
visibility of the performance of each subsidiary and of the Group as a whole.
"Our old system was difficult to use and wasn't well supported, so information
across the group was fragmented," said Richard Knill, Group Financial Controller at
Olaer. "CODA convinced us that OCRA could be implemented quickly, with little
disruption and would be fully supported internationally. With local controllers able
to access the central system from every location, our financial information will be
kept up to date and our reports more timely and accurate. It also allows for us to
account in Euros for management reporting and GBP for statutory reporting, so we're
confident we'll save a lot of time and have a first class reporting regime as a
result."
The system provides unparalleled ease of use and releases financial staff, at all
levels, to spend more time on value-added analysis. OCRA works with any number of
ERP, finance and other business systems and also links to CODA's best-of-class
accounting systems - CODA-Financials and Dream. The solution provides fast and
powerful inbuilt reporting and analysis so that users can easily compare actual
figures with any previous period or with different versions of budgets and
forecasts.
ABOUT CODA
CODA creates, markets and implements a complete range of software systems designed
specifically to meet the needs of Financial Directors and Finance Departments. These
include financial management systems, analysis applications, and business process
management and control software to implement compliance solutions. Its service
oriented architecture also makes CODA software easy for clients and other vendors to
integrate it with their business applications.
CODA was founded in 1979, has around 550 employees working from 13 global locations,
and is listed on AIM in London under the ticker "CODA". CODA software is designed
for multi-currency, multi-language, multi-country, multi-company and multi-site
operations, and is used by around 2,600 medium and large organizations in over 100
countries in a variety of markets and within both public and commercial sectors.


Web Site = http://www.coda.com

Contact Details = Emma Hoyle||Beckwith Head Road-Cardale Park ||Harrogate , HG3
1RY||$$country||||44-01423-537-977||Emma.hoyle@coda.com||http://www.coda.com