RSS feedsIn the field of IT, where customers demand more for less and technical development continues at a frantic pace, an accounting solution has to be exceptional to increase sales, gain market share and continue to command approval and loyalty from its user base.
Coda-Dream, a product produced by Coda plc, appears to fit the bill. Coda is a financial systems expert that has been providing customer solutions since 1979.
Coda-Dream has seen an increase in the number of sales in the last year, with a number of new high profile users.
It enjoys a high level of repeat business, with existing users expanding their use of the system and purchasing new modules. This has in turn enhanced the bottom line for the group, allowing funds to go into ongoing product and market development.
The product's userbase continues to rate Coda-Dream very highly in satisfaction surveys, both internally and externally, while the company's development teams continue to harness the benefits of new technology, improving the efficiency and usability of the existing system.
Success in a rapidly changing market, such as that of IT, is a clear indication of a product's merit. The accounting software market changes at an alarming rate, with price pressure eroding margins, new competitors targeting existing customers, and new technology helping to drive business benefit to those companies and users that are capable of harnessing it.
Customer satisfaction is arguably the clearest indication of a quality product. Design quality and ease of use are two other areas in which Coda-Dream scores highly.
The product has been written for accountants by accountants, with the 'unified' design of the system making it straightforward for people to use.
Coda-Dream also scores highly on functionality. It possesses a world-class suite of reporting and analytic tools.
The product has achieved effective penetration of both existing and new markets. For example, during 2003 Coda-Dream increased its higher education user base to become the number one player in that market.
Reference sites scored it highly, with users rating its customer care, functionality, design and ease of use.
Judges liked it too. 'It's a very impressive, very powerful piece of software,' said one. 'It has lots of features and lots of modules including compliance.'
Another said: 'It was a good submission with great references, impressive sales growth and good performance. It's a great product aimed at other managers in organisations - not just finance people. I liked it.'
