ReconNET™

Accurate account reconciliation for reliable financial performance

Products

Trintech ReconNET Logo

Automate even high-volume reconciliation to increase the efficiency, tighten controls, reduce risk, and more

Trintech’s ReconNET™ automates daily, monthly, and periodic reconciliation and account balances to help you increase efficiencies, tighten controls, reduce risk, leverage cash, and make more informed decisions overall.

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.

Complete the form below to download your free ReconNET brochure

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

High-Volume Transaction Processing

ReconNET’s powerful matching algorithms are able to match transaction data and automatically reconcile accounts, including those with a high volume of transactions. This gives organisations the ability to easily and automatically reconcile credit and debit card transactions, identify shortfalls and pass PCI compliance audits.

Anticipatory ACH

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.

Automated Matching and Account Reconciliation

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.

SOX and BASEL II Compliance

The solution features both detective and preventative controls to improve audibility and compliance with Sarbanes-Oxley (SOX) requirements, BASEL II, and other compliance mandates.

Controls and Reporting

Powerful reporting tools in ReconNET allow you to compare key performance metrics to optimize processes and financial relationships through easily accessible reports.

Exception Reporting and Management

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.

Workflow Manager and Auto Archive

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.

“Reporting from ReconNET is a big plus for us. We’ve created numerous custom reports with the data now available and can share them quickly with our stores, district managers and loss prevention personnel. Management enjoys and has grown to depend on the information, but an unforeseen advantage is how everyone has a greater sense that we’re closely monitoring their performance.”
Lee Jurgens, Director, Retail Sales and Cash Audit, Ralph Lauren
“This has been an outstanding success story for Jenny Craig. All ReconNET modules are now operational, staff has been trained and we’re efficiently reconciling funds on a daily basis. Trintech’s technologies have transformed how we conduct business and the product has paid for itself in the 12 months since re-launch.”
John Kuett, Controller, Jenny Craig

Featured Success Story

Case Study

Dr Pepper Snapple Group

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 began using Trintech’s reconciliation solution. Almost immediately, the company was able to reallocate resources to more strategic…

View Customer

Related Resource

April 6, 2017

There’s More To Operational Recs Than Matching

This complimentary guide illustrates key reconciliation challenges that your company may be facing and how you can use technology to solve these. Learn how automation allows you to spend less of your time data gathering and matching and more on reducing risk and ensuring integrity.

Read More