Company History
Since 2000, Trintech has focused on its distinctive competence – developing integrated financial software solutions that make a strategic difference to businesses everywhere. Trintech offers a comprehensive suite of transaction risk management, accounting compliance, and financial reporting applications to help organizations optimize their Last Mile of Finance. The company’s financial software solutions are built on a foundation of best practices and supported by the highest quality of client services.
Trintech has over 600 leading customers in dozens of industries including the commercial, financial services, and healthcare industries and is the only company to provide a complete set of financial software solutions for controlling critical financial processes from record to report (R2R). The company’s account reconciliation and compliance software solutions allow finance managers to easily manage their account reconciliation, financial close, financial reporting and compliance processes from data acquisition to the daily verification and reconciliation of bank deposits – to month-end reconciliation of balance sheet accounts and the financial close – to maintaining evidence of the review process – to certifying the accuracy of the financial data – to enterprise workflow and performance management.
Trintech is aggressively expanding its Unity Suite software business worldwide, through further investment in new products and markets and the acquisition of profitable, well-run companies.
In 2003, Trintech acquired DataFlow Services. DataFlow Services relieves corporate accounting and treasury departments of the burden of retrieving critical accounting data for reconciliation processes. Combined with Trintech’s account reconciliation software, ReconNET, the suite provides a highly scalable and cost-effective solution to businesses requiring reconciliation of high volumes of transactions.
In March 2006, Trintech acquired Assurity Technologies, Inc. This acquisition provided the company with an enterprise process management system, AssureNET GL, for general ledger reconciliation, review, and certification. The acquisition provided a complementary capability to the Trintech’s existing products and is a significant addition to the company’s expansion strategy in the market area of Financial GRC. AssureNET GL, a financial close application, helps companies to automate and control many processes that were formerly manual and spreadsheet-driven.
In December 2006, Trintech acquired Concuity, Inc. Concuity provides revenue management solutions that allow healthcare providers to recover revenue not paid by payers, due to the complexity of the healthcare billing process in the United States. Concuity’s contract management software provides hospitals, integrated health systems, and providers the visibility and control needed to analyze and negotiate contracts with payers; ensure accurate compliance with contractual obligations; and resolve revenue loss tied to denials and underpayments of healthcare claims by reconciling the remittance (Explanation of Benefit) to the claim prepared on the basis of the payer contract.
In February 2008, Trintech acquired Movaris Inc. The Movaris Unity Suite of Financial Close, Sarbanes-Oxley Compliance, GRC and Enterprise Risk Manager applications are built on a workflow and process-centric platform that enable users to plan, scope, schedule, perform, manage, and report on all corporate compliance and GRC management efforts across their enterprise. The Unity solution provides a single system of record of all compliance activities – increasing confidence in business performance, reducing the risk of material weaknesses and restatements, and reducing costs while improving productivity.
Trintech was acquired in December 2010 by Spectrum Equity Investors. This acquisition allows Trintech to accelerate the growth of its suite of financial automation solutions, positioning the Company to execute on its global expansion strategy. Following the acquisition, Paul Byrne was appointed Chief Executive Officer.
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