Calor Gas Selects Trintech’s ReconNET to Improve Internal Controls and Reduce Exposure to Operational Risk
UK’s Leading Supplier of Liquefied Petroleum Gas to Use Trintech’s ReconNET for Reconciliation and Exception Management Process Automation
Dallas, Texas/Dublin, Ireland – 11 December, 2006 - Trintech Group Plc (NASDAQ: TTPA), a leading provider of financial software and technology services specializing in transaction verification, reconciliation management, process automation, and compliance, today announced that Calor Gas Limited has selected Trintech’s ReconNET to automate cash, check, and credit card reconciliations to reduce the risks associated with what was previously a labor-intensive manual process. ReconNET will be used to identify and resolve exceptions early within the transaction lifecycle to improve processing efficiency, and reduce exposure to operational risk.
Calor Gas is the UK’s leading supplier of Liquefied Petroleum Gas (LPG) with over 70 years of experience in the energy market. From 10,000 UK outlets, Calor Gas supplies around four million homes, businesses and individuals who rely on Calor Gas for a variety of applications.
“We wanted to eliminate time-intensive manual processes through automation and benefit from daily, rather than monthly, reconciliation,” said Geert Gyselinck, Finance Director for Calor Gas. “We looked at Trintech’s ReconNET and concluded that it not only met our immediate requirements, but also offered scalability for the further expansion of our business.”
Calor Gas conducted a thorough evaluation of reconciliation software systems that would automate financial reconciliations and improve transaction-processing rates. The flexibility and power of the ReconNET system combined with Trintech’s highly professional consultancy services “made the decision easy,” according to Gyselinck. With ReconNET, Calor Gas will be able to carry out detailed daily reconciliation to identify transaction errors and mismatches much more efficiently.
“We’re very pleased to have been selected by Calor Gas. This project validates our unique approach, incorporating best-of-breed technology and specialized services, to meet enterprise reconciliation needs,” said John Harte, General Manager for Trintech. “We’re eager to help Calor Gas automate all of their financial reconciliation and exception management processes so they can focus on their core business growth initiatives.”
About Calor Gas Limited
Established in 1935, and with 70 years experience in the gas business; Calor is the leading supplier of liquefied petroleum gas (LPG) to four million homes as well as industrial, agricultural and commercial customers across the whole of the United Kingdom. Calor Gas is headquartered at Athena Dr., Tachbrook Park, Warwick, United Kingdom. For more information visit www.calorgas.co.uk.
About Trintech Group
Trintech Group Plc (NASDAQ: TTPA) is a leading global provider of financial software and technology services specializing in transaction verification, reconciliation management, process automation and compliance for commercial, financial and healthcare markets. For over 20 years, Trintech has been providing comprehensive, industry-leading solutions to financial departments seeking greater insight into critical transaction processes. Trintech delivers a configurable, highly scalable platform that incorporates a company’s unique business logic, enabling managers to obtain greater visibility and more efficiently manage business risk throughout the transaction lifecycle. Trintech’s transaction management solutions include: ReconNET for high volume transaction reconciliation; AssureNET GL for general ledger reconciliation and certification; Treasure eNET for cash management; Bank Fee Analysis; and the DataFlow Transaction Network for data collection and delivery. Over 400 leading companies across a variety of industries rely on Trintech products and services. Clients include: North Fork Bank, 7-Eleven, Kroger, Regal Entertainment, Accor, UPMC, Farmer’s Insurance Group, YUM! Brands Restaurants, Rohm and Haas, Verizon Wireless, and Ameren.
Trintech’s principal business office is in Dallas, Texas, with international offices in Ireland, the United Kingdom and the Netherlands. Trintech can be reached at 15851 Dallas Parkway, Suite 900, Addison, TX 75001 (Tel 1.972.701.9802). Trintech’s corporate office can be contacted at Trintech Technologies, Block C, Central Park, Leopardstown, Dublin 18, Ireland (Tel 353.1.293.9840). For more information, please visit www.trintech.com.
Trintech Press Contact:
Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email: donna.martinez@trintech.com
Published Monday, December 11th, 2006 at 1:00 am and filed under Press Releases, Customers, EMEA.