Cloud Computing on Ulitzer

Coda and Corefino, two accounting ISVs, say they have joined forces to give mid-market CFOs a low-cost alternative to the traditional on-premise software offered by the "Big 3" ERP giants.

The new three-part accounting service, called Corefino 2go, combines Coda's 2go SaaS accounting package, built on Saleforce.com's Force.com cloud computing platform, with Corefino's Triple-C best practices/workflow framework.

The cloud-based solution, available for a monthly subscription, can reportedly be deployed in a month or less and requires only an Internet connection to access data and download reports.

The partnership combines UK-based Coda's 30 years of experience delivering financials with the turnkey People-Place-Platform solution of Silicon Valley start-up Corefino, formally launched in May.

By joining forces with Coda, Corefino expects to maximize its Triple-C (Connect, Correct and Comply) framework, which comprises more than 500 airtight self-contained best practices and key business processes across the finance function.

The pair promises to relieve companies of the issues related to on-premise software, such as ongoing maintenance, post-implementation changes and system upgrades.

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 100 countries in a variety of markets and in both the public and commercial sectors.

Corefino sees itself as the "future of 21st century accounting" - a completely outsourced solution for replacing the aging on-premise approach to performing routine financials.

Corefino services include reconciliation, GAAP-based financials, plus others that facilitate monthly/quarterly/annual closes and IPO and merger preparation.

The company was founded in 2004, the Triple-C platform was completed in 2006, and the company was capitalized last year.

Coda is part of Unit 4 Agresso NV, which is headquartered in the Netherlands and listed on the Dutch stock exchange. CODA 2go is the first international SaaS accounting system developed on Salesforce.com's cloud platform.