Leeds-based Coda Ltd claims to have exceeded its profits target in the US by marketing its IAS accounting package through its US subsidiary, Coda Inc. The subsidiary, unlike its British parent, serves only the VAX market with its software, and is cooperating closely with DEC, having been given Digital Co-operative Marketing Programme status. Rod Potts, one of the directors of Coda Ltd, attributes the product’s successful penetration of the American market to the fact that the package, being European based, is designed for multi-currency and multi-lingual use. Consequently, no reports are hard-wired and all are user definable which gives the programme flexibility to cope with the varying accounting conventions of different countries. The Coda IAS was conceived to meet a broad spectrum of needs from producing end-of-year management accounts to straightforward book-keeping. Two of the biggest US customers for the accounting package are packaging giant Alcan, and television programme maker Aaron Spelling Productions. Although exact figures have not yet been released, Coda is looking at turnover for 1988 of approximately UKP3.3m, with a 20% growth in profits. Despite the failure of other British software companies, such as Logica Plc and a whole string of other disappointments in the US market, as well as the threat of British competitors, like Mega, for the marketing of DEC applications software in America, Coda says it is seriously considering going public in two years.
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