World's Largest Student Travel Agency Places Multi-Million Pound Order for CODA's Financial Intelligence Solution

Business Wire, Oct 31, 2001

Business Editors

LONDON--(BUSINESS WIRE)--Oct. 31, 2001

CODA (LSE:SSY)

-- Will provide realtime financial intelligence across $120 million revenue
enterprise in more than 300 locations around the globe

-- First global order for CODA's recently launched Financial Intelligence
solution

The world's largest student travel agency, STA Travel, has placed an order worth (pound)2 million for CODA's new Financial Intelligence solution. The company, which operates in more than 300 locations worldwide, will roll-out the CODA solution across its entire enterprise providing central access to online reporting and business analytics, for the first time. This is the first global order for CODA-Intelligence, the business analytics solution launched earlier this year. The order includes the international accounting system, CODA-Financials, e-Finance, e-Procurement, implementation services and support.

CODA was chosen because of its proven ability to successfully implement finance systems for global corporations including Gerling Insurance, Via Net.Works and IKEA. The company's capability to provide centralised financial control and analysis across multiple subsidiaries operating in different currencies and languages was another key factor.

"CODA's accounting and Financial Intelligence solution will have a dramatic effect on STA Travel worldwide," said Mark Adams, chief financial officer, STA Travel. "It will improve the way we do business by automating our financial processes. For the first time, we will have one centralised database of our financial interactions from bookings and suppliers, through to the banks. We are predicting substantial time and cost savings from the CODA finance system."

CODA's Financial Intelligence solution will allow the company to see its realtime financial status with the latest data available via the Internet.

"With operations in 70-plus countries, we needed a truly global player whose solutions could handle our large turnover, language and associated currency barriers. CODA has proven experience with worldwide roll-outs to large global companies like ourselves, and so was the natural choice," said Mark Adams.

About CODA

CODA is a leading global provider of Internet-architected business intelligence, accounting and procurement software that provides the financial intelligence needed to make business-critical decisions.

CODA is headquartered in the UK and it's parent company, Science Systems Plc, is listed on the Alternative Investment Market of the London Stock Exchange (SSY).

www.coda.com