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Article

Salesforce Branches into Accounting

The venture is supposed to leverage the CODA cloud accounting application

Salesforce.com Journal on Ulitzer

Salesforce has invested in a joint venture that will deliver finance and accounting applications in the cloud. Its partner is Dutch-base Unit 4 Agresso, parent company of financial ISV CODA. The new company is called FinancialForce.

Nobody said how much either is throwing in, but Salesforce is in the minority.

The venture, expected to compete with products from Microsoft, Intuit and Sage Software, is supposed to leverage the CODA cloud accounting application formerly known as CODA 2go that has been transferred into the new company.

FinancialForce thinks it can change the future of accounting and finance by delivering accounting applications in the cloud, "doing for finance and accounting what Salesforce has done for CRM."

Built on Salesforce's Force cloud computing platform, FinancialForce will chase both salesforce and non-salesforce customers.

It promises easy implementation, rapid ROI and reduced cost and complexity.

The CODA 2go team and products have been seconded to FinancialForce, which will be run from San Mateo, California, as well as EMEA headquarters in Harrogate in the UK.

The venture has established sales, pre-sales and support teams in North America and the UK to take the solution to market. Salesforce will provide first-line support, giving customers of both Salesforce CRM and FinancialForce applications a single consistent point of contact.

CODA CEO Jeremy Roche is president and CEO of FinancialForce. He along with George Hu, EVP, marketing and alliances at Salesforce, Chris Ouwinga, chairman and CEO of Unit 4 Agresso and Edwin van Leeuwen, Unit 4 CFO, make up its board.

CODA was early into Force and worked with Salesforce while developing and launching CODA 2go.

It believes that having a native solution built on the Force.com platform will give it a competitive advantage when selling to Salesforce customers and is key to its go-to-market strategy. There's a lot of integration between its accounting functions and Salesforce's Sales Cloud and Service Cloud.

FinancialForce is available now. Pricing starts at $125 a user a month.

Unit 4 Agresso is the fourth-largest mid-market ERP solution provider in the world according to IDC.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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