Accounting and Financial Software
Financial Software streamlines reconciliation workflow.
Press Release Summary:
Reducing resource allocation to reconciliation and exception management process, ReconNET v7.4 helps improve auditing, documentation, and internal control. It allows users to automate, monitor, and document effectiveness of account reconciliation process. Account reconciliation lockdown features let clients close specific time periods to ensure integrity in governance process. Other features include purge functionality, search capability, system management, and transaction matching.
Original Press Release:
Trintech Announces New Version of ReconNET Reconciliation and Exception Management Solution
Trintech's ReconNET 7.4 Streamlines Reconciliation Workflow and Improves Auditing, Documentation, and Internal Control
DALLAS and DUBLIN, Ireland, Aug. 7 / Trintech Group Plc (NASDAQ:TTPA), a leading provider of financial software and services specializing in reconciliation workflow, revenue enhancement, transaction risk management, and compliance, today announced the availability of ReconNET 7.4. ReconNET 7.4 is Trintech's latest release in its integrated suite of Financial Governance software. The newest version of Trintech's reconciliation and account balancing application will help clients further streamline reconciliation workflow; reduce resource allocation to the reconciliation and exception management process; improve auditing, documentation, and internal control; and speed exception management resolution.
ReconNET 7.4 extends its ability to allow users to automate, monitor, and document the effectiveness of the account reconciliation process. The new account reconciliation lockdown features let clients close or "lockdown" specific time periods to ensure complete integrity throughout the accounting, reconciliation and financial governance process.
ReconNET 7.4 incorporates support for current versions of Oracle and Microsoft databases and the Microsoft Windows Vista operating system. Additional new functionality is provided to support the complex nature of global enterprise accounting and financial governance practices, including new purge functionality, enhanced search capabilities, extended system management and administration functions, and transaction matching features to improve integration and reporting with general ledger systems.
These new features will save clients valuable time while improving overall usability and controls over the reconciliation process. Using a large client database, some purge processes were reduced by more than 95 percent for Oracle, and 75 percent for MS SQL. Enhancements to search functionality will allow clients to more quickly resolve exceptions. Less time will be spent on manual intervention, resulting in quicker resolution of transaction errors. ReconNET easily automates complex daily, monthly, and periodic accounting processes, and is ideal for organizations with high-volume or complex transaction matching, exception identification, and operational risk management requirements.
"The sophistication of ReconNET allows clients to explore new avenues for reconciliation process improvement. Our clients continue to creatively expand and increase their use of ReconNET for a variety of transaction types," said John Harte, EVP and General Manager for Trintech. "This release of the solution will increase their ability to improve operational efficiencies; more effectively manage risk; and achieve a measurable return on their investment."
About Trintech Group
Trintech Group Plc (NASDAQ:TTPA) is a leading global provider of financial software and services specializing in reconciliation workflow, revenue enhancement, transaction risk management, and compliance for commercial, financial, and healthcare markets. For over 20 years, Trintech has been providing comprehensive, industry-leading solutions to financial departments seeking greater insight into critical transaction processes. Trintech delivers a configurable, highly scalable platform that incorporates a company's unique business processes, enabling managers to obtain greater visibility and more efficiently manage business risk throughout the transaction lifecycle. Trintech's transaction process management solutions include: ReconNET for high volume transaction reconciliation; AssureNET GL for general ledger reconciliation and certification; On-Demand solutions for ASP ReconNET and AssureNET services and the Dataflow Transaction Network for data collection and delivery; and ClearContracts, an ASP service which enables health care providers to optimize contract profitability by reconciling payments received from their patients' insurers to amounts they should have received from claims under the terms of their respective contracts. Five hundred leading companies across a variety of industries rely on Trintech products and services. Clients include: North Fork Bank, 7-Eleven, Kroger, Regal Entertainment, Accor, UPMC, Farmer's Insurance Group, YUM! Brands Restaurants, Rohm and Haas, Verizon Wireless, and Ameren.
Trintech's principal business office is in Dallas, Texas, with international offices in Ireland, the United Kingdom and the Netherlands. Trintech can be reached at 15851 Dallas Parkway, Suite 900, Addison, TX 75001 (Tel 1.972.701.9802). Trintech's corporate office can be contacted at Trintech Technologies, Block C, Central Park, Leopardstown, Dublin 18, Ireland (Tel 353.1.293.9840). For more information, please visit http://www.trintech.com/.
Source: Trintech Group Plc
Trintech Press Contact:
Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email: donna.martinez@trintech.com
Web site: http://www.trintech.com/
