Greene King PLC - Real Food, Real Ale and Real Efficiency in the Office of Finance

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Greene King Expands Use of Trintech’s UNITY ReconNET in Account Reconciliations

ReconNET

Trintech's Unity ReconNET for Account Reconciliation

By extending the (Trintech) solution to other account reconciliation types, we have leveraged what has proven to be a sound investment, and we’ll further improve operational efficiencies and mitigate risk adding new reconciliation types...

Trintech, the leading global provider of integrated software solutions for the Last Mile of Finance today announced that Greene King has expanded its use of Trintech’s UNITY ReconNET to improve cash controls and increase efficiency.

Greene King´s main businesses are their retail division operating Local and Destination Pubs, Pub Partners, their tenancy and leasing division and their Brewing and Brands Division. In total they operate about 2,500 pubs, restaurants and hotels, two breweries (Bury St Edmunds and Dunbar) and a number of regional depots. Learn more at http://www.greeneking.co.uk/.

Greene King PLC has been a client of Trintech for seven years, initially implementing a solution that could handle their complex bank reconciliation process. Back in 2004 Greene King required a solution that would not only provide the level of automation to reduce costs in the process but that also increased productivity and provided a higher levels of control.

As Trintech and Greene King’s relationships grew the use of our solutions expanded to include multiple reconciliation types to automate the verification and reconciliation of bank deposits, and debit and credit card transactions for an ever growing Greene King business portfolio.

“We’ve been using ReconNET successfully for seven years, and during that time we’ve seen operator productivity improve by 25%,” said Greg Mauchline, Interim Head of Financial Shared Services, Greene King PLC. “Additionally, our period-end bank-to-book process now takes us only half a day. Back in 2004, it took three to four days for this process. By extending the solution to other account reconciliation types, we have leveraged what has proven to be a sound investment, and we’ll further improve operational efficiencies and mitigate risk adding new reconciliation types that help our Shared Service Centre to continue to deliver a superior customer service.”

The business benefits that Greene King has realized can be attributed to the flexibility of the ReconNET solution, which is ideally suited to meet complex and high volume account reconciliation requirements. The latest configuration of Greene King’s enterprise gives them the ability to reconcile a variety of transactional processes.

“We’re pleased to be a long trusted partner of Greene King, and delighted that the company appreciates the versatility of ReconNET,” said Tony Bethell, VP of EMEA for Trintech. “ReconNET is a powerful solution that through matching and validating data, can address multiple transaction requirements intelligently and accurately. Our clients’ ability to consistently attain tangible results with ReconNET is a mark of product quality, something largely recognised within the European market where adoption of the ReconNET solution is rapidly growing.”

About Trintech:
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 Google, Microsoft, RR Donnelley, Regis Corporation, Walmart, O2, Blackstone, BAE Systems, HSBC and Toyota Financial Services. For more information on how Trintech can help you transform your Last Mile of Finance, please contact us online at http://www.trintech.com.

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Patrick Ferguson

Carol Orr
Trintech, Inc. - EMEA
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