One of the advantages of choosing CODA as a financial business tool is the reliance on the service support from an organization point of view. CODA offers quality training, consulting and expert support to help organizations achieve their objectives. It’s a fact that CODA has been recognized by many analysts, professionals and media for customer satisfaction, which even led them to win 2 consecutives awards for best enterprise software of the year. In addition, CODA’s particular characteristic to allow customers to build their own financial system platform makes the software itself, user-friendly. Having a customized interface screen environment facilitates data entry as well as any other task such as reporting or analysing, which contributes to the performance of the organization as a whole. Another advantage of CODA, which applies only for small companies, is its affordability. CODA’s newest product, “CODA 2Go”, allows small companies with at most 5 to 6 users to purchase the application for $8,000 per year compared to their already existing conventional software sold at a price of $100,000 a year.



On the other hand, CODA’s disadvantage is also related to its cost, which applies for larger organizations. Traditional software products used in medium and large companies include diverse types of functionalities that are included in the software package. However, coping with the entire packaging might not be of the interest or usage of certain organizations. CODA’s traditional software should not only customize platforms for larger organizations but also consider in customizing functionalities within the actual software. Considering the fact that many companies are paying around $100,000 per year to have their licensees renewed but that might only be using less than 50% of its functionalities is not worth paying that amount of money; since there might be similar software in the market equally capable of doing the same work for cheaper, especially during an economic recession.


References:
http://www.coda.com/about/awards
http://industry.bnet.com/technology/10001553/coda-how-to-build-a-cloud-company/