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Wednesday, 12 August 2020, 09:00 HKT/SGT
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Source: Trintech, Inc.
Industry-Leading Enterprises Continue to Choose Trintech to Automate their Record to Report Process
Organizations looking to embark on or continue financial transformation projects partner with Trintech including ABB, Covestro and DXC Technology

DALLAS, TX / ACCESSWIRE, Aug 12, 2020 - (ACN Newswire) - Trintech, a leading global provider of integrated Record to Report software solutions for the office of finance, today announced that industry-leading organizations are continuing to partner with Trintech to automate the Record to Report process. As these complex organizations focus on scaling their business and face the new challenges of the pandemic era, they demand a seamless, integrated, and configurable solution with end-to-end encryption, supporting 100s of ERP instances including SAP(R), Oracle(R) and NetSuite(R). Trintech counts the majority of the Fortune 100 among its client roster.

"We have seen our clients pivot quickly and realize the benefits of having a comprehensive solution in place that supports a fully-operational virtual ecosystem," says Teresa Mackintosh, CEO of Trintech. "As any organization serving large enterprises knows - and this is especially true right now - you need to be able to offer more than point or narrow solutions. You need a consistent partner with a comprehensive end-to-end solution that can work remotely with existing ERPs and handle real complexities in scale, performance, security, diversity, and regulatory and geographic requirements. We call it "Enterprise Grade" financial accounting software, and this enterprise expertise is at our core."

Trintech's Cadency solution is the only System of Accounting Intelligence (SOAI) that combines end-to-end financial close activities into a single, seamless process, including operational matching, intercompany transaction management, balance sheet reconciliations, journal entry management, close task management, and compliance. In addition, it leverages innovative technologies, such as Artificial Intelligence (AI), Risk Intelligent RPA(TM) (RI RPA), and ERP Bots for further efficiencies and to support your financial transformation journey as your business evolves and grows.

"We are finding that more and more large enterprises are discovering the value of choosing a firm that is more than a vendor -- a consistent partner who provides reliable industry expertise and a complete, end-to-end solution that can scale with their growth," said Russ Hubbard, Chief Revenue Officer of Trintech. "A perfect example of this is a client of ours, a Fortune 10 premier health innovation company that went through a $70B merger and chose to replace BlackLine with Cadency. They believed Cadency was the only solution that could standardize and transform their financial processes globally as they combined their retail and insurance organizations."

DXC Technology, an organization resulting from the merger of Computer Sciences Corporation and Hewlett Packard Enterprise's Enterprise Service segment, also chose Trintech's Cadency solution, displacing BlackLine, for over 3,000 global users. The firm needed a solution that could integrate seamlessly with SAP(R) and provide full visibility and control across the entire global organization rather than merely implementing a workflow tool. DXC Technology has implemented Cadency Reconciliation Certify, Close, and Journal Entry and has also started to deploy Trintech's ERP Bots to gain further efficiencies.

In order to improve its R2R process, ABB partnered with Trintech and Capgemini to implement Trintech's Cadency solution in support of new processes, a drive for automation, and significant change management. After choosing to implement Cadency over BlackLine, ABB has achieved a single, standardized approach to balance sheet management on a global scale. Reconciliations have required less manual effort due to increased automation and the application of a risk-based strategy. ABB is now able to focus on the risk rating of their balance sheet, with high-risk accounts, such as bank accounts, being reconciled each month with low risk accounts on a less frequent reconciliation cycle.

Furthermore, a global, industry-leading office experience solution provider and a Fortune 150 real estate firm both recently came to Trintech from BlackLine, needing a more complete Record to Report solution with a proven compliance framework ideal for large enterprises. In another instance, a Fortune 20 retailer who previously used the BlackLine solution as a workflow tool for their account reconciliations decided to implement Trintech's Cadency solution to support a broader financial transformation initiative that extended well beyond their limited BlackLine implementation.

"We don't provide a one-size-fits all solution, and that's by design - a truly effective solution for the office of finance shouldn't be," said Mackintosh. "The needs and requirements of mid-sized organizations versus large enterprises are vastly different which is why Trintech has invested in two solutions, Adra and Cadency, to ensure we provide our customers with the most effective solution for their organization. When a competitor has only one solution to offer, it often means sacrificing a customer's requirements versus providing solutions built specifically to a customer or market's unique needs. As we continue to see Adra gain traction in the North American market, we're confident we'll see Trintech succeed in competitive displacements in the mid-market segment going forward as we are observing in the Enterprise market."

About Trintech

Trintech Inc., a pioneer of Financial Corporate Performance Management (FCPM) software, combines unmatched technical and financial expertise to create innovative, cloud-based software solutions that deliver world-class financial operations and insights. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, intercompany accounting, journal entries, disclosure reporting and bank fee analysis, to governance, risk and compliance - Trintech's portfolio of financial solutions, including Cadency(R) Platform, Adra(R) Suite, and targeted tools, ReconNET(TM), T-Recs(R), and UPCS(R), help manage all aspects of the financial close process. Over 3,500 clients worldwide - including the majority of the Fortune 100 - rely on the company's cloud-based software to continuously improve the efficiency, reliability, and strategic insights of their financial operations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, Singapore, France, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

Media Contact:
Kristina Pereira Tully
Vested
650-464-0080
[email protected]

SOURCE: Trintech, Inc.

Topic: Press release summary
Sectors: Exchanges & Software, Retail & eCommerce, Daily Finance, Cloud & Enterprise, Banking & Insurance, Legal & Compliance
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