The adoption of the solution (ReconNET) turns an inefficient manual exercise into an automated, daily, controlled and enhanced process
London, UK / Dallas, TX / Dublin, Ireland (PRWEB) July 18, 2011
Trintech, a leading global provider of integrated software solutions for the Last Mile of Finance, is pleased to announce that BrightHouse has selected Trintech’s ReconNET solution to improve its operational reconciliation process efficiency. ReconNET is a component of Trintech’s Unity platform, a suite of modular software that empowers companies to automate their Last Mile of Finance to increase efficiency, improve visibility, shorten cycle times, lower costs, and reduce risk.
“ReconNET allows BrightHouse to manage the reconciliations for the high volumes of transactions that we have coming from over 230 stores throughout the UK that need to be reconciled with our GL system” said Karen Maher, Cash & Treasury Manager, BrightHouse. "At BrightHouse we offer customers a variety of payment methods to suit their needs. This results in complex reconciliations and we required a robust, easy to administer solution that could scale to match our ambitious growth plans for this year."
BrightHouse selected Trintech’s Unity ReconNET solution to manage complex reconciliations and to improve efficiencies through automation. The Unity ReconNET solution enables the company to:
- Deliver very high match rates
- Enable finance to control all the administration and rules of the solution
- Remove significant levels of manual work from the daily reconciliations
- Allocate cash faster
- Provide real-time visibility of reconciled and unreconciled items across multiple data sources
- Facilitate easier compliance with the internal policies and procedures for cash management
- Detect, flag and resolve issues and exceptions early in the process using rules based workflow
- Detect potential fraud as well as training gaps quickly
- Create capacity in the finance team so that they can focus on the high value exception tasks
“BrightHouse joins Trintech's growing client base proving the power of Trintech’s technology to deliver ROI and efficiencies for core finance processes that are not supported by most GL and ERP solutions today. The adoption of the solution turns an inefficient manual exercise into an automated, daily, controlled and enhanced process” said Tony Bethell, Trintech Vice President, EMEA.
BrightHouse is the leading UK rent-to-own company, who provides quality branded household goods to customers on affordable weekly payments through over 230 retail stores nationwide. The BrightHouse proposition allows customers access to the goods they need to furnish their homes - with no deposit, weekly payments and peace of mind, through complete servicing and right of return.For more on BrightHouse, go to: http://www.brighthousegroup.co.uk.
Trintech is the leading global provider of integrated software solutions for the Last Mile of Finance. From the time a transaction occurs to the time financial statements are issued, Trintech’s innovative Unity Suite automates data collection, account reconciliation, financial close management, financial reporting, XBRL, and financial control testing. As a result, our 600 clients and 100,000 users worldwide benefit from an enterprise wide view into critical financial processes, and are able to increase efficiency, improve visibility, shorten cycle times, lower costs, and reduce risk.
Trintech clients include 50% of the Fortune 50 and nearly 25% of the Fortune 500 representing retailers, manufacturers, financial institutions and healthcare providers globally. Trintech clients include Intel, Google, Microsoft, RR Donnelley, Regis Corporation, Walmart, O2, Blackstone, BAE Systems, Skype, HSBC and Toyota Financial Services.