The Republic Group Selects Trintech’s ReconNET, AssureNET GL, and TRACKER to Improve Account Reconciliation and Escheatment Reporting
Dallas, Texas/Dublin, Ireland – March 2008 – Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that The Republic Group has selected ReconNET for depository and disbursement reconciliation, AssureNET GL for general ledger reconciliation, review, and certification, and TRACKER for escheatment reporting.
The Republic Group, through independent agents primarily in Texas, Oklahoma, Louisiana, Mississippi and New Mexico, provides personal property, dwelling fire, personal automobile and commercial insurance through four business segments: personal lines, commercial lines, program management, and insurance services. Based on financial condition and operating performance, the A.M. Best Company has assigned The Republic Group companies a Best’s Rating of A- (Excellent), VIII.
“We wanted one vendor for multiple solutions. We were pleased when we discovered that Trintech could provide us with all that we needed,” said Tim Morgan, AVP and Corporate Controller for The Republic Group companies. “The functionality and flexibility of ReconNET addresses our need to automate reconciliation and exception management processes, and it will help us manage certain controls over financial reporting in a more efficient manner. TRACKER will increase the level of control and visibility into our unclaimed property and escheatment processes, and we expect AssureNET GL to reduce cost and effort associated with compliance administration.”
Trintech’s solutions automate complex daily, monthly and periodic internal processes to help finance and treasury staff of large enterprises (including enterprises with high-volume processing requirements) tighten controls, reduce risk, cut costs, leverage cash and make more informed decisions.
“Our solutions help customers like The Republic Group eliminate errors and reduce risk commonly associated with manual data-checking and allow them to redeploy staff to more critical operational issues,” said Kevin Connelly, Senior Vice President and Managing Director, Trintech Financial Services Group. “By combining the use of our financial accounting solutions, customers can process a growing number of transactions, without incurring a linear increase in operational costs.”
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