Trintech’s ReconNET™ automates daily, monthly, and periodic reconciliation and account balances to help you increase efficiencies, tighten controls, reduce risk, leverage cash, and, overall, make more informed decisions.
The solution is used by more than 500 organizations worldwide in virtually every industry including apparel, automotive, banking, financial services, retail, education, healthcare, insurance, pharmacy, telecommunications, utilities, transportation, grocery, and business services.
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Effective operational account reconciliation enables you to spend less time on low-value activities and more time on the value-added areas that matter most. Many ReconNET customers experience:
• Reconciliation productivity increases of 100%
• Reduction of write-offs of 30% or greater
• Reductions of 50 or more in idle funds
• Bank-to-Book reconciliation efforts reduced from weeks to days
• Knowing where cash is at any time
• Multi-million dollar annual resource savings
• Ability to perform specialty reconciliation specific to their organization
Use ReconNET’s powerful matching algorithms to electronically match transaction data and automatically reconcile accounts, especially high-volume transaction accounts. Now you can easily and automatically reconciles credit and debit card transactions, identify shortfalls, and provides the ability for businesses to pass stringent PCI audits.
Maximize balances in interest-bearing, concentration accounts by eliminating the need for proprietary bank ACH systems and their associated fees. ReconNET automates the ACH calculation process and reduces your company’s exposure to ACH overdraft fees.
ReconNET automates daily, monthly, and periodic reconciliation and account balancing processes, especially high-volume transaction accounts, through powerful matching algorithms to electronically match transaction data and automatically reconcile accounts.
The solution features both detective and preventative controls to improve audibility and compliance with Sarbanes-Oxley (SOX) requirements, BASEL II, and other compliance mandates.
Powerful reporting tools in ReconNET allow you to compare key performance metrics to optimize processes and financial relationships through easily accessible reports.
During the reconciliation process, ReconNET detects and flags issues for review, resolves exceptions quickly and eliminates losses due to fraud, error or unnecessary charge-backs. The solution provides insight into your unique business trends allowing you to proactively reduce losses. All useful information needed to resolve exceptions is available in one place.
ReconNET features a universal file processor, automatic matching, interactive matching, search and entry, Source A to Source B matching, as well automatic archiving are all included in ReconNET.
“Trintech’s automatic matching capabilities are best-in-class. I don’t see any other vendor with a solution this unique.”
Dr Pepper Snapple Group uses Trintech’s reconciliation solution to provide consistency to all its general ledger reconciliations Trintech’s reconciliation solution provides Dr Pepper Snapple Group with true visibility into the status of every general ledger reconciliation, increased compliance and accountability throughout the organization, a more efficient method of communicating with auditors and more timely access to data and KPIs to support executive decision-making. After just a 90-day implementation process, DPSG…View Customer