Smart & Final Inc. Selects Trintech’s Solutions for Data Delivery and Transaction Reconciliation
US-based Smart & Final Inc. to Optimize Transaction Processing with Trintech’s ReconNET Software and DataFlow Transaction Network Services
Dallas, Texas/Dublin, Ireland - 8 August, 2006 - Trintech Group Plc (NASDAQ: TTPA), a leading provider of transaction reconciliation and payment infrastructure solutions, today announced that Smart & Final Inc. has selected ReconNET to automate the verification and reconciliation of its cash banking and credit card transactions, and the DataFlow Transaction Network to provide electronic bank data delivery.
Smart & Final, through various subsidiaries, sells food, foodservice products and culinary equipment through non-membership warehouse stores and wholesale stores. The 130-year old company operates over 250 non-membership warehouse grocery stores in the western United States and northwestern Mexico.
“We were using a homegrown automated reconciliation solution that still required significant manual effort. It also wasn’t compatible with our new general ledger system,” said Wayne Geffen, VP and Controller for Smart & Final Stores. “It was time for us to find a fully automated and scaleable solution – one that can handle our present needs while providing functionality such as gift card and NSF reconciliation that can be adopted in the future.”
The installation of ReconNET will help Smart & Final to streamline its cash management processes, and provide effective risk management and reporting across all its stores. The DataFlow Transaction Network will provide standardized, validated daily electronic bank data for the company’s regional banks. The DataFlow Transaction Network is designed to save Smart & Final valuable time, eliminating the daily effort of retrieving data in various formats from multiple banks, and converting the data for their financial systems.
“Smart & Final’s replacement of its homegrown reconciliation solution with Trintech’s solutions demonstrates its confidence in our ability to optimize performance,” said John Harte, General Manager of Trintech’s Funds Management Systems Division. “Smart & Final joins a growing number of leading warehouse stores and grocery chains that have selected ReconNET to streamline reconciliation processes and shorten end-of-month balancing, and DataFlow to simplify bank and account data collection.”
About Smart & Final Stores
Founded in 1871 in downtown Los Angeles, Smart & Final Inc. operates over 250 non-membership warehouse stores for food and foodservice supplies in California, Oregon, Washington, Arizona, Nevada, Idaho, and north western Mexico. The stores carry a broad range of restaurant-quality food, foodservice supplies and culinary equipment. Smart & Final stores target both the foodservice and household markets; however, Smart Foodservice Cash & Carry stores are focused exclusively on serving foodservice professionals. Smart & Final Inc. is a publicly held corporation with common stock traded on the New York Stock Exchange (NYSE) under the symbol SMF. For more information visit www.smartandfinal.com.
About Trintech FMS
Trintech Funds Management Systems (FMS), a division of Trintech Group, provides comprehensive, industry-leading solutions, specializing in transaction verification, reconciliation, process management and compliance. Trintech’s suite of products includes the ReconNET reconciliation product suite, AssureNET GL for managing general ledger reconciliation and compliance, Treasure eNET - an ASP hosted treasury workstation, Bank Fee Analysis, and the DataFlow Transaction Network for data collection and delivery. Trintech’s solutions are optimizing performance in over 400 leading companies in the banking and finance, convenience store and grocery, entertainment, hospitality, insurance, restaurant, retail, telecommunication, and utility industries. Clients include: Bank of America, 7-Eleven, Kroger, Regal Entertainment, Accor, Farmer’s Insurance Group, YUM! Brands Restaurants, Radio Shack, Verizon Wireless and Ameren. The FMS division is headquartered in Dallas, Texas. For more information visit Trintech online at www.trintech.com/fms or call 972-701-9802.
About Trintech Group
Trintech Group is a leading provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 19 years of experience, Trintech’s solutions manage each area of the payment transaction cycle from authentication, authorization, settlement, dispute resolution and reconciliation - enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), in Uruguay at Technology & Business Park, Zona America - Ruta 8 Km. 17.500, Of. 006 - Local 310, ZIP 91.600, Montevideo (Tel: + 598 2 518 2250) and in the UK at The Colonnades, Beaconsfield Close, Hatfield, Hertfordshire, AL10 8YD (Tel: +44 1707 632900).
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