Salesforce.com and Unit 4 Agresso form accounting JV

Enterprise cloud computing company Salesforce.com has forayed into the accounting software market through a joint venture with Dutch company Unit 4 Agresso.

The joint venture FinancialForce.com uses Salesforce.com's enterprise cloud-computing platform Force.com to build and distribute finance and accounting software in the cloud. FinancialForce applications are now available starting from $125 per user per month. The deal puts Salesforce.com in direct competition with Intuit, Microsoft and Sage.

Unit 4 Agresso, parent company of financial software specialist CODA, owns a majority stake in the venture. FinancialForce.com leverages CODA's cloud accounting application formerly known as CODA 2go. The CODA 2go team and products have already transferred to FinancialForce.com.

Jeremy Roche, CEO of CODA, has been appointed president and CEO of FinancialForce.com. George Hu, executive vice president, marketing and alliances at salesforce.com, Chris Ouwinga, chairman and CEO of Unit 4 Agresso, Edwin van Leeuwen, CFO of Unit 4 Agresso and Roche make up the board at FinancialForce.com.

Roche said: "FinancialForce.com will do for finance and accounting what salesforce.com has done for CRM. We are enabling customers of all sizes to choose accounting as part of a broader, integrated cloud computing solution and giving them the power of enterprise accounting without the pain of owning the software themselves."

In June Salesforce.com and Fujitsu announced a cloud partnership to provide support services including application development, systems integration, and consulting, for Salesforce.com's applications and its Force.com platform in the Asia Pacific region.

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