Trintech Acquires Adra Software

Leaders in financial close software combine to form comprehensive and innovative portfolio of financial solutions supporting organizations across the globe

Trintech, a leading global provider of integrated, cloud-based Record to Report software solutions for the office of finance, today announced it has acquired Adra Software, a leading provider of financial close and reconciliation software for the European marketplace. With this acquisition, Trintech broadens its portfolio of best-in-class financial solutions to better meet the needs of its existing and prospective customers across the globe. In addition, Adra Software’s strong local customer success expands Trintech’s European presence, making it the clear Record to Report solution provider in the European market. The combined company will operate under the name Trintech.

Adra Software’s financial solutions, such as its unique workflow management software, further supports Trintech’s vision of enabling customers to utilize technologies that best meet their specific needs. Whether the need is solely focused on a specific process like reconciliations, or there is a broader focus on full financial transformation, Trintech’s portfolio supports an organization’s requirements now and in the future.

“We are thrilled to announce the addition of Adra to our portfolio of financial solutions. Combined, we are better equipped to serve the Record to Report needs of organizations across the globe,” said Teresa Mackintosh, CEO of Trintech. “This acquisition is another proof point of Trintech’s commitment to strengthen our portfolio through both organic roadmap development and acquiring the best technology on the market.”

Adra Software provides cloud-based, financial close and reconciliation solutions including: ACCOUNTS, a transaction-matching software, BALANCER, a balance sheet reconciliations software, TASK MANAGER, a software for streamlining the financial close process, and RECEIVABLES, a payment matching software.

“We are excited to be joining the Trintech team and continuing our focus of providing solutions that help modernize and transform the office of finance,” said Lars Owe Nyland, CEO of Adra Software. “Existing Adra customers will have direct access to an expanded solution set and new customers can better solve their needs through our combined portfolio.”

Trintech will continue to offer, support, and innovate Adra Software’s solutions to the global marketplace as well as its flagship Record to Report software including Cadency®, T-Recs®, ReconNET™ and Trintech Disclosure Management®.

About Trintech

Trintech, Inc. pioneered the development of Financial Corporate Performance Management (FCPM) software to optimize the Record to Report process. From high volume transaction matching and streamlining daily operational reconciliations, to automating and managing balance sheet reconciliations, journal entries, bank fee analysis, reporting, governance, risk and compliance – Trintech’s portfolio of financial solutions, including Cadency®, Trintech Disclosure Management®, ReconNET™ and T-Recs® , help manage all aspects of the financial close process. Over 1,700 clients worldwide – including the majority of the Fortune 100 – rely on our cloud-based software to increase efficiency, reduce costs, and improve governance and transparency across global financial organizations.

Headquartered in Dallas, Texas, Trintech has offices located across the United States, United Kingdom, Australia, France, Ireland, the Netherlands and the Nordics, as well as strategic partners in South Africa, Latin America and Asia Pacific. To learn more about Trintech, visit www.trintech.com or connect with us on LinkedIn, Facebook and Twitter.

About Adra Software

Adra Software develops and markets software for financial process management and the financial close process, helping accounting and finance teams to work smarter and quicker, with better control and accuracy. The solutions streamline and standardize accounting departments and give them an overview of the company’s balancing process in real time.

With over 25 years’ experience Adra Software is a market leader with over 1,400 customers. To learn more about Adra Software, visit www.adra.com.

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Media Contact:

Kelli Shoevlin

1 (972) 739-1680

Kelli.Shoevlin@trintech.com

Frequently Asked Questions – Trintech Customers 
 

  • I heard that Trintech acquired another company. Can you tell me more?
    • Trintech has acquired Adra Software, a leader in the financial close and reconciliation software market and based in Oslo, Norway. Together, the companies will form one of the most innovative providers of Record to Report solutions across virtually every industry vertical. The combined company will be named Trintech and will continue to maintain all of the existing offices of both companies. This is a strategic combination that provides more resources for product R&D as well as customer operations and enables us to be a leading provider of Record to Report solutions across the globe.
  • Who is Adra Software?
    • Adra Software is a leading provider of financial close and reconciliation solutions which automate the financial close process, remove repetitive and tedious tasks, create overview and increase efficiency. Adra products are:
      • ACCOUNTS: Transaction matching software
        BALANCER: Balance sheet reconciliation software
        RECEIVABLES: Payment matching software
        TASK MANAGER: Software for streamlining financial close
  • What happens to Trintech’s current portfolio of financial solutions?
    • Trintech will continue to offer, support, and extend its existing solutions, Cadency®, T-Recs®, ReconNET™, Trintech Disclosure Management® , UPCS®, DataFlow®, and SmartAnalysis®, as well as, Adra’s solutions including ACCOUNTS, BALANCER, RECEIVABLES, TASK MANAGER.
  • Who should we contact for Trintech support or service?
    • You should continue to call your normal customer service line for support or service. Trintech customers in the United States should call 1 800 317.7998, customers in Europe should call +44 (0) 8706 260729 or email support@trintech.com, and customers in all other regions should email support@trintech.com. Alternatively, you can call your sales or account representative.