Leading Financial Record-to-Report Software Provider Achieves 100% YOY Growth in Bookings Driven by its Award Winning Cadency® Cloud Solution
Dallas, TX - September 3, 2014
Trintech, the leading global provider of integrated Record-to-Report software solutions for the office of finance, today announced that it has achieved over 100 percent year-over-year growth of its Cloud-based software bookings during the first half of its fiscal 2015, which ended on July 31, 2014. The company’s growth was fueled by the adoption of Cadency®, its enterprise-class R2R software-as-a-service (SaaS) solution, across blue-chip companies in the Americas, EMEA and Australia.
“We would like to thank all of the new companies that have elected to join the Trintech family of customers so far this year,” said Paul Byrne, chief executive officer at Trintech. “We are honored to have earned their trust as their Record-to-Report vendor of choice to help them through the journey of transforming the office of finance across their respective organizations.”
Global finance organizations face a growing realization that traditional point solutions have introduced whitespace inefficiencies across their financial close process, causing rework, decreased visibility and added risk. Many such organizations are now turning to Trintech, foregoing and/or replacing these incomplete solutions with Cadency due to its integrated approach towards automating and managing all of the Record-to-Report process activities within a single, holistic solution. The result is increased efficiency across the process with complete visibility throughout each step, allowing financial executives to better manage their company’s risk profile.
“It’s also important to recognize the contribution that our existing clients have made to our success and growth,” continued Byrne. “We look forward to assisting many more with their finance transformation programs as they seek to lower their costs and reduce their Record-to-Report risk by migrating more of their processes and controls to Cadency from other non-Trintech solutions.”
During the first half of fiscal 2015, the company was invited to join the Cloud Security Alliance [CSA] alongside dozens of the most highly recognized cloud computing providers worldwide such as Cisco, eBay, Google, Microsoft, Salesforce.com and many more, further solidifying Trintech’s commitment and dedication to providing highly secure and least-risk cloud-oriented applications for its end-to-end financial governance solutions. The company’s software and private cloud data center configuration, security and controls are already certified to the highest level.
Trintech also reaffirmed its commitment to support and integrate its Record-to-Report software solutions with customer enterprise resource planning (ERP) solutions such as Oracle and SAP®. In June, the company received an update to its “SAP® Certified Integration with SAP Applications” certificate confirming that Cadency meets all of the requirements that customers require when integrating with SAP applications. To date, Trintech solutions have integrated with over 50 different software applications that customers deem critical to their finance transformation success.
As a testament to the value of its award winning solutions, Trintech pharmaceutical customer AstraZeneca received the coveted Alsbridge Innovation Award in the UK for its balance sheet reconciliation transformation project. In collaboration with AstraZeneca and Genpact, the company’s business process outsourcing partner, Trintech implemented its software to manage reconciliations of AstraZeneca’s multi-billion dollar balance sheet. The Alsbridge Innovation Award honors innovative practices of an outsourcing relationship and acknowledges the technology and techniques that help enable those successful initiatives.
Byrne added, “It’s exciting to see our customers winning awards due to their deployment of our software. Awards like these for our customers reaffirm our vision of making all of our customers successful with their finance transformation projects by adopting a strategic approach to finance transformation and delivering the most comprehensive Record-to-Report solution on the market.”
Cadency® is a single, Cloud-based financial governance software solution that encompasses all aspects of an organization’s financial close, also known as the Record-to-Report cycle – including automating and managing the balance sheet reconciliation, journal entry, governance and compliance, and financial reporting processes, including XBRL tagging. It also includes the Cadency mobile application, which extends the unprecedented visibility and transparency of Cadency’s financial close, compliance and disclosure management capabilities to the power and accessibility of un-tethered iOS mobile devices.
Trintech is the leading provider of financial software solutions for the Record-to-Report process. Over 800 clients in 100 countries – including half of the Fortune 50 and the FTSE 100 – rely on our solutions to optimize resources, reduce costs, manage risk and monitor activities across the entire finance organization worldwide. Trintech’s Cloud-based Cadency® software manages all aspects of the financial close – from automating and managing balance sheet reconciliation, journal entries, to governance, risk and compliance, and financial reporting. ReconNET™ streamlines daily operational reconciliations such as bank and credit card transactions. Trintech’s has offices located across the US, UK, Australia, France, Ireland, the Netherlands and the Nordics, with partners in South Africa, Latin America and across the Asia Pacific region. www.trintech.com.