Trintech Creates New Business Unit – On-Demand Solutions, for Cash Management and Reconciliation
Companies Are Eliminating the Burden of Installing and Maintaining Cash Management and Reconciliation Solutions Through Web-Based On-Demand Solutions - Low Startup Costs Provide a Near Immediate ROI
Dallas, Texas/Dublin, Ireland - 13 February, 2006 - Trintech Group Plc (NASDAQ: TTPA), a leading provider of transaction reconciliation and payment infrastructure solutions, today announced the formation of a new On-Demand Solutions business unit that provides On-Demand Solutions for cash management, reconciliation, and data collection, processing, aggregation and delivery. On-Demand Solutions will provide a cost-effective way for businesses to increase the efficiency of their cash management and reconciliation processes while avoiding the upfront costs of IT resources, application servers, software licenses, implementation and maintenance. On-Demand Solutions offers the combined power of the ReconNET reconciliation system, and the Treasure eNET treasury workstation, with the convenience of the DataFlow Transaction Network to automate, simplify and improve enterprise workflow processes.
By introducing On-Demand Solutions to the marketplace, Trintech takes advantage of a fast-growing trend in IT – hosted software solutions – giving companies access to advanced technologies without significant up-front costs. A traditional license for a software application can require capital budgeting processes, committee evaluations, multi-level and/or senior-level management approval, and IT resources. In contrast, hosted versions of the same application are affordable at minimal initial investment with modest monthly charges thereafter. Low startup costs provide a near immediate return on investment.
“With On-Demand Solutions, Trintech is taking a dramatic step towards helping businesses of all sizes meet accounting and treasury management challenges,” said Darren Heffernan, Vice President of On-Demand Solutions. “In our state-of-the-art security environment, businesses can improve their accounting processes and boost efficiencies without impacting their cash flow. Additionally, On-Demand Solutions can provide accounting and treasury managers with confidence and peace of mind through continuous control automation, ensuring compliance with Sarbanes-Oxley requirements.”
Through On-Demand Solutions, clients can securely access ReconNET and Treasure eNET from their desktops via the Internet. Daily or intra-day bank account data to Treasure eNET and ReconNET is provided through the DataFlow Transaction Network. Clients can identify, research and resolve exceptions, and generate reports as if the applications were hosted in their own environment. Trintech supports its clients’ security requirements through its SAS 70 Type I and Type II certified facility that maintains a secure and encrypted connection between remote desktops and Trintech servers.
Key On-Demand Solutions functionality includes:
Remote access via the Internet
Daily data collection (including bank data), processing, aggregation and delivery into ReconNET via DataFlow
Daily verification, month-end general ledger extract and bank-to-book reconciliation
Cash positioning, cash flow forecasting, variance analysis
Bundled report templates for daily, weekly and monthly processes
ACH service, credit card, and gift card reconciliation available as add-on modules
On-Demand Solutions facilitates speedy implementation so that businesses can promptly reduce the time and effort of manual processes, automate daily and month-end financial processes, reduce write-offs due to error or fraud, ensure effective financial controls and auditability, and reduce costs.
“Presently, On-Demand Solutions are helping numerous clients develop sustainable compliance processes that will reduce risks and increase accounting efficiencies across their organizations,” said John Harte, General Manager of Trintech’s Funds Management Systems Division. “We expect that number to grow significantly as other businesses choose to leverage the power of the Web to reduce time, costs and the risks associated with implementing application software.”
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), in the UK The Colonnades, Beaconsfield Close, Hatfield, Hertfordshire, AL10 8YD (Tel: +44 1707 632900) and on the web at www.trintech.com.
- Contact Information
- Donna Martinez
- Marketing Communications Manager, FMS
- Trintech Group
- Contact via E-mail
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