The American Red Cross Selects Hosted Versions of Trintech’s ReconNET to Automate Reconciliation and Account Balancing Processes and AssureNET GL to Improve Accounting Compliance
Dallas, Texas/Dublin, Ireland - March 24, 2008
Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance, today announced that the nation’s premier emergency response organization, the American Red Cross, has selected ReconNET to automate the reconciliation of their disbursement accounts and AssureNET GL to automate and control general ledger account reconciliation processes and closing tasks and activities.
Through over 700 locally supported chapters and a global network of 186 national societies the American Red Cross offers neutral humanitarian care to victims of war and those of devastating natural disasters. Additionally, the organization offers compassionate services to help the needy; support and comfort military members and their families; collect, process, and distribute lifesaving blood and blood products; promote health and safety; and provide international relief and development programs.
Trintech’s ReconNET is intended to meet the American Red Cross requirements for advanced matching algorithms; general ledger integration; and built-in research features that automate escalation of open items and report on incidents and exceptions. Integrated with ReconNET, AssureNET GL should provide the organization with the ability to standardize processes across their enterprise, control the accounting close process, verify and certify work in remote locations, and increase efficiency, visibility, and compliance. The reconciliation solutions are hosted in a state-of-the-art, secure facility where the highest standards are employed to ensure the absolute integrity of American Red Cross data. Trintech’s infrastructure is SAS 70 Type II compliant, as certified by a Top-Five accounting firm.
“During a natural disaster, we have some very specific and often complex reconciliation needs. ReconNET is expected to streamline and accelerate disbursement reconciliations, eliminate losses due to error, and tighten our financial controls,” said Martha Zweier, Director, General Accounting for the American Red Cross. “The tracking function within AssureNET GL should allow us to monitor reconciliations at every stage, better enforce policies and procedures, and ensure the absolute integrity of our data.”
“It’s a mark of distinction to have been selected by the American Red Cross. We’re pleased that our automated solutions can help them better focus their resources on strategic activities especially in times of crisis,” said John Harte, EVP and General Manager for Trintech. “Technology and expertise under an ASP model is an attractive value proposition for our customers. For a predictable monthly fee that frees up intellectual and monetary capital resources, we can provide infrastructure hardware, software, and system management necessary for a variety of account reconciliation and funds management processes - all configured to meet a client’s unique business processes.”
About American Red Cross
The American Red Cross helps people prevent, prepare for and respond to emergencies. Last year, almost a million volunteers and 35,000 employees helped victims of almost 75,000 disasters; taught lifesaving skills to millions; and helped U.S. service members separated from their families stay connected. Almost 4 million people gave blood through the Red Cross, the largest supplier of blood and blood products in the United States. The American Red Cross is part of the International Red Cross and Red Crescent Movement. An average of 91 cents of every dollar the Red Cross spends is invested in humanitarian services and programs. The Red Cross is not a government agency; it relies on donations of time, money, and blood to do its work. For more information, visit www.redcross.org.
About Trintech Group
Trintech Group Plc (NASDAQ: TTPA) is a leading global provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech’s recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.
Over 600 leading global organizations realize the benefits of Trintech’s configurable and highly scalable solutions everyday, including 7-Eleven, Accenture, Allianz Life North America, Ameren, Bank of Nevada, eBay, Farmer’s Insurance Group, Kinder Morgan, Regal Entertainment, Rohm and Haas, Sears, UPMC, Verizon Wireless, Wyndham Worldwide, and YUM! Brands Restaurants.
Trintech’s technology enables our customers to ensure their internal financial processes are optimized, improve performance through stronger management of revenue and cost cycles, ensure the accuracy and integrity of financial data, improve the quality and efficiency of the financial close process, as well as reduce the risk of material weaknesses and restatements.
For more information on how Trintech can help you increase confidence in business performance and reduce financial risk, please contact us online at www.trintech.com or at our principal business office in Addison, Texas, or through an international office in Ireland, the United Kingdom, or the Netherlands.
Trintech • 15851 Dallas Parkway, Suite 900 • Addison, TX 75001 • Tel 1 972 701 9802
Trintech UK Ltd. • Warnford Court, 29 Throgmorton St. • London EC2N2AT, UK • 44 (0) 20 7628 5235
Trintech Technologies • Block C, Central Park • Leopardstown, Dublin 18, Ireland • Tel 353 1 293 9840
Trintech Press Contact:
Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@www.trintech.com
Published Monday, March 24th, 2008 and filed under Customers
