Lafarge Selects Trintech to Help Improve Performance in its UK Financial Shared Services Environment
Lafarge to Automate Reconciliation Workflow with Trintech's ReconNET
LONDON and DUBLIN, Ireland, Sept. 4 / -- Trintech Group Plc (NASDAQ:TTPA), a leading provider of integrated financial governance, risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide, today announced that Lafarge has selected ReconNET to automate bank account reconciliation and to reduce exposure to risk.
Lafarge Services (UK) Limited is the Shared Services operation that provides services to Lafarge operating entities in the UK, including Lafarge Aggregates, Lafarge Cement UK, and Lafarge Plasterboard. Lafarge is a leading supplier to the professional construction industry and the home improvement market.
"We're introducing a new ERP system into our environment. It was this project that led us to investigate other advanced technology solutions," said Harry Ruprah, Controller for Lafarge UK One. "We chose ReconNET for its ease of use, flexibility, and scalability. We're also interested in incorporating other solutions from Trintech into our Shared Service Centre in the future. By eliminating our current manual processes, we expect to improve key controls, ensure compliance, and increase efficiency by substantially reducing reconciliation and exception resolution time."
Trintech's ReconNET will automate complex daily, monthly, and periodic processes, including daily verification of deposits, payments, and reporting functions, to help Lafarge finance and treasury groups tighten controls, reduce risks, cut costs, leverage cash, and make more informed decisions.
"We're pleased to help Lafarge make this transition from largely manual reconciliation processes to automated functionality that fully integrates with the new ERP system," said Tony Bethell, VP EMEA. "Furthermore, we look forward to working with Lafarge on future projects as they continue to streamline processes within their Shared Services organization."
"Effective management of operational risk is extremely important to large enterprises. We're delighted that Lafarge has selected Trintech to more effectively manage transaction and account reconciliation," said John Harte, EVP and General Manager for Trintech. "Our financial governance solutions are driving the evolution of how global corporations look to solve their ever-changing and complex financial accounting and compliance requirements."
About Lafarge
Lafarge is the world leader in building materials, with top-ranking positions in all of its businesses: Cement, Aggregates & Concrete and Gypsum. With 71,000 employees in over 70 countries, Lafarge posted sales of Euros 17 billion in 2006. Lafarge has been committed to sustainable development for many years, pursuing a strategy that combines industrial know-how with performance, value creation, respect for employees and local cultures, environmental protection and the conservation of natural resources and energy. Lafarge is the only company in the construction materials sector to be listed in the 2007 '100 Global Most Sustainable Corporations in the World'. To make advances in building materials, Lafarge places the customer at the heart of its concerns. It offers the construction industry and the general public innovative solutions bringing greater safety, comfort and quality to their everyday surroundings.
About Trintech Group
Trintech Group Plc (NASDAQ:TTPA) is a leading provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech's recognized expertise in reconciliation underpins its suite of financial governance solutions, enabling businesses to address critical business objectives leading to more informed decision making and better overall business performance.
Over 500 leading global organizations, including -- North Fork Bank, 7-Eleven, Kroger, Regal Entertainment, Accor, UPMC, Farmer's Insurance Group, YUM! Brands Restaurants, Rohm and Haas, Verizon Wireless, and Ameren -- realize the benefits of Trintech's configurable and highly scalable solutions everyday to: improve performance through stronger management of the revenue cycle and disbursements; ensure the accuracy and integrity of financial data; identify and reduce transaction risk; improve the quality and timeliness of financial reporting; and strengthen internal controls to support compliance requirements.
For more information on how Trintech can help you gain greater visibility and control of your critical financial processes, please contact us online at www.trintech.com/ or at our principal business office in Addison, Texas, or through an international office in Ireland, the United Kingdom, or the Netherlands.
Trintech
15851 Dallas Parkway
Suite 900
Addison
TX 75001
Tel
1.972.701.9802
Trintech Technologies
Block C, Central Park
Leopardstown, Dublin 18
Ireland
Tel 353.1.293.9840
Trintech Press Contact:
Dallas:
Donna Martinez
Marketing Communications Manager, Trintech
Tel. +1 972 739 1611
email:donna.martinez@trintech.com
Source: Trintech Group Plc
Web site: www.trintech.com/
