Why we care deeply about our Unit4 Financials by Coda customers
In recent discussions about financial management software, some misconceptions have emerged regarding the future of Unit4 Financials by Coda. Contrary to recent claims, Unit4 Financials by Coda is far from reaching its end of life.
This article aims to clarify these misconceptions and provide an accurate overview of this robust financial management solution's current status and future.
The current state of play
Unit4 Financials by Coda remains a cornerstone in the suite of financial tools offered by Unit4, renowned for its flexibility, configurability, and ability to handle high transactional volumes.
At Unit4, we are deeply committed to our customers who depend on Unit4 Financials by Coda. Our continuous release cycle and planned updates through 2024 and beyond demonstrate our dedication to providing a viable, long-term financial management solution.
We understand the critical role finance teams play as strategic enablers and trusted partners within their organizations, and we strive to support them by ensuring their investment in Unit4 Financials by Coda remains secure and beneficial.
At Unit4, we realize and appreciate the value that Unit4 Financials by Coda brings to our customers and see it as a distinct market to the wider ERP(x) platform. This enables Unit4 to have a bigger, better, more focused, and more well-rounded offering for organizations that typically use Unit4 Financials by Coda, such as retail, financial services, logistics, or manufacturing sectors.
These organizations require a standalone, best-of-breed financial management solution. Enterprises with very high and unpredictable transactional volumes need a sophisticated yet highly configurable solution.
We understand there is a growing demand for finance teams to be strategic enablers and trusted partners. Unit4 customers need a solution to these challenges and not added worries about the future of their investment.
Q&A
To help our valued customers understand, we have put together the following questions and answers:
Q: What is the status of Unit4 Financials by Coda?
A: Unit4 Financials by Coda is not being discontinued, nor is it at the end of its life. The software is maintained through a continuous release cycle, with updates planned throughout 2024 and beyond.
Q: Will there be support for Unit4 Financials by Coda beyond 2024?
A: While Unit4 has announced a strategic shift towards Cloud-based solutions, on-premises support for Unit4 Financials by Coda is scheduled to continue, provided that current on-premises customers sign to move to the Cloud by the end of December 2024. Unit4 will continue to support customers’ on-premises solutions until the end of 2026. During this time, customers will receive access to quarterly and maintenance releases.
Q: Are customers happy with Unit4 Financials by Coda?
A: The solution renewal rate for our customer base is 95%. This is significantly higher than the market average for software solutions, where an 80% renewal rate is favorable and indicates that a company is effective with its customer retention efforts.
Q: Are there any benefits to migrating to Unit4 Cloud?
A: Based on our experience in the Cloud, we have developed a methodology that ensures you will be up and running in the Cloud in as little as 20 days. We will also provide a clear onboarding plan delivered by a team of Cloud experts. The ROI (return on investment) of Cloud migration outweighs on-premises costs in the long term.
Your IT team is freed from burdensome maintenance tasks like updating databases, and with Unit4 Cloud, you automatically always get the latest version of the software. This helps ensure the highest integrity and security of your system data for increased peace of mind.
Q: What features does Unit4 Financials by Coda offer?
A: Unit4 Financials by Coda offers no-compromise financial management, including financial accounting, procurement management, billing management, asset management, and spend analytics. It also provides a single ledger system, multi-everything classification, and real-time financial information that is always in balance.
Q: How does Unit4 Financials by Coda support growth and change?
A: The software is designed for growth and change, allowing processes to scale and adapt to business growth. It also supports proactive decision-making with flexible, real-time financial intelligence.
Q: Can Unit4 Financials by Coda integrate with other systems?
A: Yes, it is interoperable and can add value to specialized systems without affecting them or being affected when changes are required.
Conclusion
Unit4 Financials by Coda will remain supported. The transition to Cloud-based solutions is a strategic move by Unit4, but it does not signify an end of life for the Unit4 Financials by Coda solution. Users can look forward to ongoing support for Unit4 Financials by Coda and the option to migrate to a Cloud-based platform for additional benefits.
Technology is evolving at pace. Our vision is to continue to transform the Financial Management System landscape by advancing Cloud technology, AI (Artificial Intelligence), and automation, empowering businesses to drive efficiency and foster innovation in their processes.
Unit4 Financials by Coda has been established for over 45 years and has over 750+ customers in over 100 countries. We will continue to support this solution going forward.
You can find out even more information on Unit4 Financials by Coda here.
How Unit4 Financials by Coda can help your organization
Unit4 Financials by Coda is designed to address the needs of enterprises looking for a sophisticated yet flexible financial management system. Here are some of the key benefits:
1. Comprehensive financial management
Unit4 Financials by Coda offers a suite of financial management features, including financial accounting, procurement management, billing management, asset management, and spend analytics. Its single ledger system ensures real-time financial information is always in balance, providing accuracy and reliability.
2. Scalability and adaptability
The software is built to support growth and change, allowing organizations to scale their processes and adapt to business growth seamlessly. This ensures that as your organization evolves, Unit4 Financials by Coda evolves with it, providing continuous support and functionality.
3. Seamless integration
Unit4 Financials by Coda is designed to integrate with other systems, adding value without disrupting existing workflows. This interoperability makes it a versatile choice for organizations using specialized systems.
4. Cloud transition benefits
While maintaining robust on-premises support, Unit4 also offers a clear pathway to Cloud migration. This transition provides numerous benefits, including reduced IT maintenance burdens, automatic software updates, enhanced data integrity, and security. The transition to Unit4 Cloud can be completed efficiently, ensuring minimal disruption to your operations.
5. Proactive financial intelligence
The system supports proactive decision-making with flexible, real-time financial intelligence. This capability enables finance teams to act swiftly and strategically, ensuring they can meet the demands of a rapidly changing business environment.
Unit4 Financials by Coda continues to be a reliable and innovative financial management solution. Learn more about this and our suite of integrated solutions here.
