Baring Asset Management has placed a £235,000 order with financial accounting and procurement software vendor Coda Group to implement a centralised financial management system.
Baring will use the Coda-Financials solution to manage its finance operations in London, Hong Kong, Tokyo and Boston, with information available to, and actionable by, 40 concurrent users, from the firm's London headquarters.
Baring previously had a single finance application, which had separate isolated databases for each of its major offices. Coda-Financials will provide the firm with a globally consolidated central database of all of its financial information while also delivering capabilities to analyse operations in each country on an individual basis. The solution will enable the company to drill down and analyse the performance and profitability of a single department.
Julian Swayne, CFO, Baring Asset Management, says: "By implementing Coda-Financials, we have a clear real-time view of the business across all regions - regardless of the country or currency the separate business operations trade in."